Overview of the Market for Crude Sunflower-Seed And Safflower Oil in Ireland
In value terms, crude sunflower-seed and safflower oil production expanded sharply to $ in 2019 estimated in export prices. In general, production saw resilient growth. The growth pace was the most rapid in 2018 when the production volume increased by % year-to-year. Over the period under review, production hit record highs in 2019 and is likely to continue growth in the near future.
The value of the market for crude sunflower-seed and safflower oil in Ireland reduced to $ in 2019, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the market value increased by % y-o-y. As a result, consumption attained the peak level of $, and then contracted slightly in the following year.