Brazil: Animal Fats Market 2024

Animal Fats Market Size in Brazil

The Brazilian animal fats market dropped markedly to $X in 2021, waning by -27.3% against the previous year. In general, consumption, however, recorded a prominent expansion. As a result, consumption attained the peak level of $X, and then contracted markedly in the following year.

Animal Fats Production in Brazil

In value terms, animal fats production shrank remarkably to $X in 2021 estimated in export price. In general, production, however, saw a prominent increase. The pace of growth was the most pronounced in 2020 when the production volume increased by 128%. As a result, production attained the peak level of $X, and then reduced dramatically in the following year.

Animal Fats Exports

Exports from Brazil

In 2021, exports of animal fats and oils from Brazil declined sharply to X tons, waning by -20.6% against the previous year. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 116%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, animal fats exports rose rapidly to $X in 2021. In general, exports faced a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 97%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Uruguay (X tons) was the main destination for animal fats exports from Brazil, with a 97% share of total exports. It was followed by the UK (X tons), with a 1.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Uruguay stood at -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Colombia (-29.1% per year).

In value terms, Uruguay ($X) remains the key foreign market for animal fats and oils exports from Brazil, comprising 96% of total exports. The second position in the ranking was held by the UK ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Uruguay totaled -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Colombia (-30.9% per year).

Export Prices by Country

The average animal fats export price stood at $X per ton in 2021, with an increase of 45% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, animal fats export price increased by +84.1% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.3%), while the prices for the other major destinations experienced mixed trend patterns.

Animal Fats Imports

Imports into Brazil

For the fifth consecutive year, Brazil recorded growth in purchases abroad of animal fats and oils, which increased by 9.3% to X tons in 2021. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 469%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, animal fats imports shrank to $X in 2021. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 869% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Peru (X tons) was the main animal fats supplier to Brazil, with a 92% share of total imports. Moreover, animal fats imports from Peru exceeded the figures recorded by the second-largest supplier, Colombia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Peru totaled +61.2%.

In value terms, Peru ($X) constituted the largest supplier of animal fats and oils to Brazil, comprising 88% of total imports. The second position in the ranking was taken by Colombia ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Peru stood at +75.6%.

Import Prices by Country

The average animal fats import price stood at $X per ton in 2021, which is down by -20.2% against the previous year. Over the period under review, the import price saw a deep downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by 126%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Peru stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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