The global sunflower oil consumption has been increasing in the past decades and vegetable oil analysts hold that the consumption of sunflower oil exceeds its production. This claim can be conveniently accepted if we stand to consider the tremendous increase in the price of sunflower oil.

The normal law of economics stipulates the relationship of demand and supply in relation to price as the price will always have an indirect relationship to supply. This may mean when less is supplied prices will definitely go up. In the case of sunflower oil, less is not supplied because of lack of demand for sunflower oil but rather more is being demanded with a limited supply which causes prices to go up.

Notwithstanding, other factors like weather conditions and crop yield can also be responsible for the short supply of sunflower oil but the fact still remains the same, demand has only known one way and that is “up.”

The question is what causes the increase in the demand for sunflower oil?

As of 2020, over 4.8 million tons of sunflower oil was imported across the world (ITC calculations based on UN COMTRADE and ITC statistics) compared to the previous decade where only 2.5 million tons of sunflower oil was imported in 2001/2008. Sunflower oil is at the fourth position of the global vegetable oil market by 2017/2018 9.2% below market leaders like palm oil (36.5%) soybean (27.4%) and rapeseed oil (12.5%) (1)

Although the global market size for sunflower oil is way smaller compared to other vegetable oils like palm oil and soybean oil, and even with the higher price of the oil, demand for sunflower oil is estimated to increase as food processors are on the continuous search for quality sources of trans-fat-free vegetable oils (2).

Back in 2009, the increase in the demand for sunflower oil was seen with the growth in consumption which was due to the narrowed price difference between sunflower and other vegetable oils. Today, that is practically not the case or due to prices as sunflower oil now costs more than other vegetable oils.

Today, an increase in the demand for sunflower oil has been mostly for the outstanding benefits of the oil, for food, non-food (biofuel), and for cosmetic purposes. One may also hold that the increase in the demand for sunflower oil can be due to the shift from palm oil by many for sustainability reasons as palm cultivation is considered to be degrading the “green earth” through deforestation.

Another key factor that can’t be neglected when it comes to oil consumption has been population growth. Between the years 2021 and 2019, the world’s population has increased by 25% and total oil consumption by 209%. In tonnage, total oil consumption growth is about 105 MT/year. This growth may be attributed for 22% of population growth, 42% for the development of biodiesel production, and 36% to changes in dietary habits and non-food related purposes (3).

Health Benefits as a contributing factor to the global import of Sunflower Oil.

In recent years, there has been a dramatic shift in the eating habits of many to a healthier organic source diet. Many today are being concerned about the health benefits of natural organic eating and vegetable oils come into play as a “full package.”

Sunflower oil is well “endowed” in Oleic acids which are known for a wide variety of health benefits like reducing high cholesterol levels and fight against heart disease (4) (5). As a monosaturated fat, it is also known to increase the good cholesterol (HDL) levels in our system.

Sunflower oil is also a good source of vitamin E. It is important to note that vitamin E obtained from an organic food source is much better than vitamin E derived from supplements. Research studies have been able to prove that vitamin E can help with brain and nerve health. Vitamin E is also known to stand against the progression of Alzheimer’s disease (6).

Other health benefits may include;

– Immune booster as the oil is also rich in antioxidants

– Promote a good and healthy skin as the oil is packed with vitamin E

– Energy booster as the oil can help stimulate glycogen into the bloodstream from the liver

– Helps for digestion as the oil is extremely light and easy to digest

– Encourages a beautiful and healthy hair as the oil is rich in gamma alpha linolenic (GLA)

Major Exporters of Sunflower oil

As of 2020, Russia stands to lead the global export of sunflower with a market share of 15.1 % a 2.1% increase compared to 2019. Russia recorded an export value of over $652 million USD for exporting 712,202 tons of sunflower oil. Turkey is the second top exporter of sunflower oil with an export value of over $638 million USD for exporting 643,503 tons of sunflower oil. For the same year, Turkey holds a 14.7% market share a 3.2% increase compared to the previous year (2019).

Ukraine comes in third after a fall as the world leader of sunflower oil in 2019. Ukraine holds a 14.2% market share, with a 1.1% increase from the previous year of 2019. As of 2020, Ukraine exported over 653,815 tons of sunflower oil with an export value of over $616 million USD. (Sources: ITC calculations based on UN COMTRADE and ITC statistics.)

The Top 10 Importers of Sunflower Oil in 2020

The list below is for importers for the product : Sunflower-seed or safflower oil and their fractions, whether or not refined, but not chemically modified (excluding crude)

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Ethiopia

Ethiopia is the top importer of sunflower oil in the world as of 2020. Over 671,311 tons of sunflower oil was imported by Ethiopia with an import value of over $365 million USD. Ethiopia currently holds about an 8.5% share in world imports of sunflower oil.

Belgium

At the second position is Belgium with a world import share value of 6.3% which is almost 2.2% less of the market share of Ethiopia. Belgium imports over 276 thousand tons of coconut oil with an import value of over $272 million USD.

Djibouti

At the third position is Djibouti with an import value of over $191 million USD for the importation of over 199 thousand tons of sunflower oil. As of 2020, Djibouti holds a 4.4% share in world imports of sunflower oil.

Uzbekistan

Uzbekistan is in the fourth position with a world import share value of 4.4% as Djibouti. Uzbekistan, imports over 208 thousand tons of sunflower oil with an import value of over $188 million USD.

United States of America

The United States of America is the fifth largest importer of sunflower oil in the world. The United States imports over 111 thousand tons of sunflower oil with an import value of over $161 million, holding a 3.7% share in the world’s import of sunflower oil.

United Kingdom

After the United States is the United Kingdom at the 6th position with a 3.7% share value of world imports of sunflower oil. The United Kingdom holds an import value of over $157 million USD for over 162 thousand tons of sunflower oil imported.

Germany

At 7th place, is Germany, importing about 125,276 tons of sunflower oil with an import value of over $143 million USD. As of the same year of 2020, Germany holds a market share value of 3.3% of global imports of sunflower oil.

Netherlands

The Netherlands is in the 8th position with a market share of 3.3%, the same as with Germany. As of 2020, the Netherlands’ import value for sunflower oil was over $140 million USD for about 132,107 tons of sunflower oil imported.

Poland

Poland comes in at the 9th spot with an import value of over $131 million and a world import share value of 3.1%. As of 2020 Poland imported 132,107 tons of sunflower oil.

France

At the 10th spot, France comes in with a global share value of 3% with an import value of over $130 million. France imported over 115,711 tons of sunflower oil as of 2020.

The global trade balance is seen at a value of over $32 million USD for the same year of 2020. This indicates a positive trade balance which means, more is being exported than imported. However, this is not the case for all the countries listed above except for Germany, the Netherlands, and France with a positive trade balance of over $56.6 million, $96.2 million, and $148.3 million respectively.