Sunflower Oil Price Trend

Sunflower Oil Prices December 2023

The sunflower oil’s price for Q4 2023 in the United States reached 1370 USD/MT. The FAO vegetable price index claimed a 0.7% decline in October as compared to previous month. In addition, there was a decline in factory employment, negatively impacting the improvement seen in September. This period was expected to bring a rise in sunflower oil supplies, resulting in price drops in importing nations. The sunflower oil market experienced increased price volatility owing to the uncertain global economic situation and concerns about the shortages of future supply.

Sunflower Oil Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sunflower Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of sunflower oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of sunflower oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sunflower oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sunflower oil price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Sunflower Oil Market Analysis

The global sunflower oil market size reached US$ 36 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 60.8 Billion, at a projected CAGR of 6.00% during 2023-2032.

• The growing health consciousness among the masses around the world is catalyzing the demand for sunflower oil, as it is rich is unsaturated fats and vitamin E while being low in saturated fats, which assists in maintaining a healthy diet.
• The rising interest of people in healthy cooking oil and plant-based diets is driving the demand for sunflower oil.
• The increasing awareness among individuals about the benefits of sunflower oil, along with the wide availability of sunflower oil through various distribution channels, such as supermarkets, hypermarkets, retail stores, and online platforms, is propelling the market growth.
• Technological advancements in extraction and processing technology are making the production of sunflower oil more cost-efficient. They are also advantageous to buyers and producers by enabling them to improve quality and increase production capacities.
• There is a rise in the demand for sustainable farming due to the rising concerns about environmental sustainability and the ecological impact of agricultural practices.
• In some countries, governing agencies are supporting the production of sunflower through subsidies, technical assistance, and research investments, thereby increasing the production and quality of sunflower oil.
• As per IMARC Group’s report, the global cosmetics market size reached US$ 400.6 Billion in 2023 and is expected to reach US$ 618.7 Billion by 2032. Sunflower oil finds extensive applications in different cosmetic items because of their moisture enhancing and emollient properties that prevents premature aging. The oil softens, nourishes and improves the texture of the skin.
• According to the EU Industrial R&D Investment Scoreboard 2021, total investments made by healthcare industries around the world is about €188.7 billion in R&D in 2020. These rising investments in research and development (R&D) activities resulted in thriving pharmaceutical and healthcare industries. Sunflower oil serves as an excellent base for topical medications and ointments that reduce skin irritations and conditions.
• There is an increase in the demand for alternatives for conventional fossil fuels to reduce environmental impacts and support sustainable practices around the world. This, in turn, is catalyzing the demand for biofuels manufactured from sunflower oil via transesterification process.

Sunflower Oil News

The report covers the latest developments, updates, and trends impacting the global sunflower oil market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in sunflower oil production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sunflower oil price trend.

Latest developments in the sunflower oil industry:

• In 2022, Key Soulcare company launched its new sheer flush cheek tint made with sunflower and safflower seed oils in collaboration with board-certified dermatologist Dr. Renee Snyder.
• In 2022, Avril Group announced its plans to increase its sunflower seed crushing capacity in France from 700,000 to 1.1 million tonnes to enhance its domestic production.
• In 2023, Cargill, Incorporated launched Gemini Pureit™, a sunflower oil brand, in Karnataka, India to cater to the needs and demands of consumers for premium quality oil.

Product Description

Sunflower oil, a widely favored non-volatile cooking oil, maintains a light texture, neutral flavor, and significant biological activity. It's abundant in unsaturated fatty acids, especially linoleic and oleic acids, essential for a comprehensive diet. This oil protects against oxidative damage in the body, reflecting positively on skin health.

Regarding heart health, sunflower oil manages cholesterol levels and reduces inflammation, safeguarding cardiovascular functionality. Its high-temperature stability makes it ideal for frying and baking without producing harmful oxidative products. Additionally, its beneficial effects on hair health have made it a common ingredient in hair care products. Beyond its nutritional value, sunflower oil is employed in producing biofuels, demonstrating its versatility and contribution to sustainable energy sources.

Regional Coverage

The report provides a detailed analysis of the sunflower oil market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the sunflower oil price trend.

Global Sunflower Oil Price

The report offers a holistic view of the global sunflower oil pricing trends in the form of sunflower oil price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of sunflower oil but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed sunflower oil demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Sunflower Oil Price

The European region has experienced a volatile trend due to ongoing war in Ukraine that disrupted supply chain and the arrival of the harvesting season, exerting downward pressure on prices of sunflower oil. Moreover, the wide availability of other edible oils impacted the demand for sunflower oil from key players. In October 2023, export prices for goods, including sunflower oil increased in the region on account of the appreciation of Euro against the US dollar.

This analysis can be extended to include detailed sunflower oil price information for a comprehensive list of countries.

North America Sunflower Oil Price

In North America, sunflower oil prices witnessed a varied trajectory as in the beginning of October 2023, prices continued to decrease across the region. However, sunflower oil is considered cost-effective as compared to palm and soybean oil, thereby its utilization in producing biofuels remained high. Besides this, the export of sunflower oil became expensive due to congestion at ports that caused delays and significantly increased transportation costs.

Specific sunflower oil historical data within the United States and Canada can also be provided.

Middle East and Africa Sunflower Oil Price

The report explores the sunflower oil pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on sunflower oil prices for countries can also be provided.

Asia Pacific Sunflower Oil Price

Asia Pacific sunflower oil market was influenced by several factors throughout Q4 2023. At the start of October 2023, a record harvest in Ukraine resulted in the global surplus of sunflower oil. However, low consumer spending impacted the demand for sunflower oil, negatively affecting biofuel industry while making other edible oil like rapeseed and soybean popular in the region. At the end of the fourth quarter, logistics challenges and high destination stockpiles affected the import of sunflower oil.

This sunflower oil price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Sunflower Oil Price

The analysis of sunflower oil prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sunflower oil pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting sunflower oil price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The sunflower oil price charts ensure our clients remain at the forefront of the industry.