Safflower oil is the oil derived from safflower plant seeds that are white in colour. It is a light, clear, viscous, cold-pressed oil with no flavour and a vegetable odour. It is an unsaturated base oil which means it can be used with coconut, palm, and other such oils.
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It is produced using the cold pressing process, where the seeds get pressed at a low temperature yielding the ideal product. It's combustible and incompatible with strong oxidising agents.
Key Details About the Safflower oil Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Safflower oil price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Safflower oil Price trend, including India Safflower oil price, USA Safflower oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
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Industrial Uses Impacting Safflower oil Price Trend:
Owing to the various properties of safflower oil, it is widely used in lotions, soaps, creams, and massage oils which is the main market driver for the product. Furthermore, the growing consumer awareness regarding the oil's various health benefits is boosting the market demand. In addition, lifestyle changes among consumers, like a preference for low-fat foods, an increasing shift towards organic foods, and rising health consciousness etc., are factors boosting the market expansion. Also, besides the oil's use in culinary applications, it is employed in industrial applications like paint production using animal oil which in turn furthers the market development.
Key Players:
- Adams Group
- ConnOils LLC
- Kshrey Inc
- Ekologie Forte Pvt.Ltd
News & Recent Development:
- 5th April 2023- Plenty Foods, the Australian producer of cold-pressed oil, announced that its super high oleic safflower oil would create waves in the USD 920 million edible oil segment owing to its high cooking quality and health benefits. They expect their product to grow into a USD 1.2 million product for Woolworths by year-end.
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