Bolivia: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Bolivia

The Bolivian margarine and shortening market reduced to $X in 2022, falling by -7% against the previous year. In general, consumption, however, recorded a buoyant increase. Margarine and shortening consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Margarine And Shortening Production in Bolivia

In value terms, margarine and shortening production dropped to $X in 2022 estimated in export price. In general, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +22.8% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 61%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Margarine And Shortening Exports

Exports from Bolivia

After two years of growth, overseas shipments of margarine and shortening decreased by -15.7% to X tons in 2022. Overall, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 35% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, margarine and shortening exports surged to $X in 2022. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 32%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for margarine and shortening exports from Bolivia, accounting for a 70% share of total exports. Moreover, margarine and shortening exports to Colombia exceeded the volume sent to the second major destination, Chile (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-19.5% per year) and Peru (0.0% per year).

In value terms, Colombia ($X) remains the key foreign market for margarine and shortening exports from Bolivia, comprising 65% of total exports. The second position in the ranking was held by Chile ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia totaled -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-17.5% per year) and Peru (0.0% per year).

Export Prices by Country

The average margarine and shortening export price stood at $X per ton in 2022, picking up by 36% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening export price increased by +68.3% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia ($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 Chile (+2.6%).

Margarine And Shortening Imports

Imports into Bolivia

In 2022, imports of margarine and shortening into Bolivia shrank markedly to X tons, declining by -59.5% compared with 2021. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 80% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, margarine and shortening imports contracted sharply to $X in 2022. Over the period under review, imports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2013 when imports increased by 56% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), Colombia (X tons) and Ecuador (X tons) were the main suppliers of margarine and shortening imports to Bolivia, with a combined 83% share of total imports. Indonesia, the United States, Argentina and Italy lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +67.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest margarine and shortening suppliers to Bolivia were Colombia ($X), Brazil ($X) and Ecuador ($X), with a combined 78% share of total imports. Indonesia, the United States, Argentina and Italy lagged somewhat behind, together accounting for a further 18%.

Italy, with a CAGR of +75.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average margarine and shortening import price stood at $X per ton in 2022, jumping by 23% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening import price increased by +77.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 44% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform