Procurement Resource provides latest prices of Safflower Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Get the latest insights on price movement and trend analysis of Safflower Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
The production of safflower is highly volatile, and its planting area depends on the market prices. In 2021, the prices of safflower surged throughout China owing to reduced production, low inventories, and high downstream demand. Due to the record high prices, many medicinal farmers started safflower production in 2022 and hence the production increased, and market inventories expanded causing the prices to decline.
In China, Xinjiang and Yunnan are the two major producers of safflower. In Yunnan, the distribution price in the production area(1 mu) for scattered and bulk goods sold by farmers ranged from 135-140 RMB and the goods used for medical decoction ranged from 144-146 RMB.
The low atmospheric conditions in the early stages of production caused a delay in the peak picking season thereby, inflating the price trends for safflower slightly. However, the prices stabilized and decline further due to the incoming good from Kazakhstan. The current prices of safflower seeds are around 3.8-4 RMB/kg.
The safflower prices registered an oscillating trend which directly influence the prices of safflower oil. Despite the fluctuating raw material prices, the price trends for safflower oil remained anchored in the global market owing to the robust demand for the pharmaceutical and essential oil industry. With the absence of sunflower oil in the market, the prices of other oil soared uncontrollably.
About Safflower Oil:
Safflower Oil is a light, odourless and flavourless cold-pressed oil that is obtained from white seeds of the safflower plant. Safflower Oil is a rich source of linoleic acid (70%). It is an unsaturated base oil, and thus, could be used in combination with palm, coconut, or a similar oil. It is widely recognised for its moisturising properties and thus is commonly used in soaps, lotions, creams, and massage oils.
|Product Name||Safflower Oil|
|Industrial Uses||Cooking oil, Salad dressing, Margarine, Lubricants, Solvents, Cosmetics, Plastic additives, Resins and polymers, Biofuels, Paints and coatings, Soaps and lotions|
|Supplier Database||Adams Group, ConnOils LLC, Kshrey Inc, Ekologie Forte Pvt.Ltd|
|Region/Countries Covered||Asia Pacific: China , India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland , Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
In order to extract Safflower Oil, a process called cold pressing is used. Cold pressing is the conventional and straightforward method of producing oil, where the seeds are pressed (or squeezed) at a low temperature to finally obtain the desired product.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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