Brazil: Vegetable Oils Market 2024

Vegetable Oils Market Size in Brazil

The Brazilian vegetable oils market shrank to $X in 2022, reducing by X% against the previous year. Overall, consumption showed a abrupt downturn. Vegetable oils consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Oils Production in Brazil

In value terms, vegetable oils production declined to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Vegetable oils production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vegetable Oils Exports

Exports from Brazil

In 2022, overseas shipments of vegetable fats and oils increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports posted a strong expansion. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, vegetable oils exports soared to $X in 2022. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Uruguay (X tons) was the main destination for vegetable oils exports from Brazil, with a X% share of total exports. Moreover, vegetable oils exports to Uruguay exceeded the volume sent to the second major destination, Argentina (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Uruguay totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (X% per year) and the United States (X% per year).

In value terms, Uruguay ($X), Argentina ($X) and the United States ($X) were the largest markets for vegetable oils exported from Brazil worldwide, with a combined X% share of total exports. Paraguay, Colombia, Bolivia and Trinidad and Tobago lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2022, the average vegetable oils export price amounted to $X per ton, jumping by X% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Paraguay ($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 Bolivia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports

Imports into Brazil

In 2022, the amount of vegetable fats and oils imported into Brazil shrank markedly to X tons, with a decrease of X% compared with the year before. In general, imports recorded a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, vegetable oils imports surged to $X in 2022. Over the period under review, imports continue to indicate a pronounced curtailment. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Ecuador (X tons) were the main suppliers of vegetable oils imports to Brazil, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X), Indonesia ($X) and the United States ($X) were the largest vegetable oils suppliers to Brazil, together accounting for X% of total imports. Ecuador, Germany, Sweden, India and Singapore lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Ecuador, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average vegetable oils import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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