Brazil: Linseed Oil Market 2024

Linseed Oil Market Size in Brazil

The Brazilian linseed oil market contracted to $X in 2022, which is down by -9.2% against the previous year. Over the period under review, consumption saw a noticeable curtailment. Linseed oil consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Linseed Oil Production in Brazil

In value terms, linseed oil production rose significantly to $X in 2022 estimated in export price. Over the period under review, production recorded a deep reduction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 92%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Linseed Oil Exports

Exports from Brazil

In 2022, linseed oil exports from Brazil surged to X tons, growing by 35% on 2021 figures. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2016 when exports increased by 627% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, linseed oil exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2016 when exports increased by 662% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Argentina (X tons), Panama (X tons) and Peru (X kg) were the main destinations of linseed oil exports from Brazil, with a combined 82% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +65.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for linseed oil exported from Brazil were Panama ($X), Argentina ($X) and Peru ($X), with a combined 82% share of total exports.

In terms of the main countries of destination, Panama, with a CAGR of +70.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, picking up by 30% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed oil export price increased by +94.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 52% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Argentina ($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 (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Linseed Oil Imports

Imports into Brazil

In 2022, imports of linseed oil into Brazil declined rapidly to X tons, shrinking by -26% on 2021. In general, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 172%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, linseed oil imports reached $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 253% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Belgium (X tons), Germany (X tons) and Canada (X tons) were the main suppliers of linseed oil imports to Brazil, together comprising 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +154.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and Canada ($X) were the largest linseed oil suppliers to Brazil, together comprising 97% of total imports.

Canada, with a CAGR of +116.6%, recorded the highest rates of growth with regard to 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 linseed oil import price stood at $X per ton in 2022, jumping by 37% against the previous year. Overall, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 44%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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