Bolivia: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Bolivia

In 2022, the Bolivian chemically modified oils market decreased by -1% to $X, falling for the second year in a row after three years of growth. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.7% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Chemically Modified Oils Production in Bolivia

In value terms, chemically modified oils production expanded to $X in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.4% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 27%. Chemically modified oils production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Chemically Modified Oils Exports

Exports from Bolivia

In 2022, the amount of animal or vegetable fats and oils chemically modified exported from Bolivia surged to X tons, jumping by 51% compared with the previous year. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 340%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 416% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Chile (X tons) and the Netherlands (X tons) were the main destinations of chemically modified oils exports from Bolivia.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +190.9%).

In value terms, the largest markets for chemically modified oils exported from Bolivia were Chile ($X) and the Netherlands ($X).

Chile, with a CAGR of +277.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, rising by 114% against the previous year. In general, the export price, however, continues to indicate a deep downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Chile totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+30.1%), while the prices for the other major destinations experienced mixed trend patterns.

Chemically Modified Oils Imports

Imports into Bolivia

In 2022, the amount of animal or vegetable fats and oils chemically modified imported into Bolivia skyrocketed to X tons, with an increase of 134% on the previous year's figure. Overall, imports, however, saw a slight contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 168% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, chemically modified oils imports contracted to $X in 2022. In general, imports recorded measured growth. The growth pace was the most rapid in 2020 with an increase of 292% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest chemically modified oils supplier to Bolivia, with a 76% share of total imports. Moreover, chemically modified oils imports from Malaysia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled +225.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-17.1% per year) and Germany (+50.9% per year).

In value terms, Malaysia ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Bolivia, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with a 20% share of total imports. It was followed by Brazil, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia totaled +64.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+51.6% per year) and Brazil (-16.4% per year).

Import Prices by Country

The average chemically modified oils import price stood at $X per ton in 2022, shrinking by -61.3% against the previous year. In general, the import price, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2020 an increase of 104% against the previous year. The import price peaked at $X per ton in 2021, and then reduced notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform