Argentina: Linseed Oil Market 2024

Linseed Oil Market Size in Argentina

The Argentinian linseed oil market rose significantly to $X in 2022, picking up by 6.6% against the previous year. In general, consumption saw a modest increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Linseed Oil Production in Argentina

In value terms, linseed oil production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable descent. The growth pace was the most rapid in 2014 with an increase of 712%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Linseed Oil Exports

Exports from Argentina

In 2022, linseed oil exports from Argentina declined significantly to X tons, shrinking by -52% on the previous year. Over the period under review, exports faced a sharp decrease. The pace of growth appeared the most rapid in 2018 when exports increased by 290% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports shrank dramatically to $X in 2022. Overall, exports saw a precipitous slump. The most prominent rate of growth was recorded in 2018 when exports increased by 291% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa (X tons) was the main destination for linseed oil exports from Argentina, accounting for a 69% share of total exports. Moreover, linseed oil exports to South Africa exceeded the volume sent to the second major destination, Uruguay (X tons), fourfold. The third position in this ranking was taken by Chile (X tons), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Africa amounted to -19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-7.5% per year) and Chile (-29.2% per year).

In value terms, South Africa ($X), Uruguay ($X) and Chile ($X) constituted the largest markets for linseed oil exported from Argentina worldwide, with a combined 99% share of total exports.

Uruguay, with a CAGR of -2.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average linseed oil export price amounted to $X per ton, reducing by -28.1% against the previous year. In general, the export price, however, continues to indicate a measured expansion. The pace of growth appeared the most rapid in 2021 an increase of 53%. As a result, the export price attained the peak level of $X per ton, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Linseed Oil Imports

Imports into Argentina

In 2022, after four years of growth, there was significant decline in overseas purchases of linseed oil, when their volume decreased by -89.3% to X tons. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 794%. Imports peaked at X tons in 2021, and then dropped notably in the following year.

In value terms, linseed oil imports dropped rapidly to $X in 2022. Overall, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2015 when imports increased by 360%. Imports peaked at $X in 2021, and then declined markedly in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of linseed oil to Argentina, with a 86% share of total imports. Moreover, linseed oil imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X kg), more than tenfold. The United States (X kg) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +45.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+117.2% per year) and the United States (-10.3% per year).

In value terms, Brazil ($X) constituted the largest supplier of linseed oil to Argentina, comprising 84% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports. It was followed by the United States, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +47.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+130.5% per year) and the United States (-13.4% per year).

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, picking up by 2.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 185%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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