Report Update Nov 1, 2024

Chile - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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Chile: Soybean Oil Market 2024

Soybean Oil Market Size in Chile

In 2022, the Chilean soybean oil market increased by 30% to $X, rising for the third year in a row after three years of decline. In general, consumption showed significant growth. Soybean oil consumption peaked in 2022 and is expected to retain growth in the immediate term.

Soybean Oil Production in Chile

In value terms, soybean oil production plummeted to $X in 2022 estimated in export price. Overall, production enjoyed a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 1,377%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Soybean Oil Exports

Exports from Chile

In 2022, soybean oil exports from Chile soared to X tons, rising by 6,927% against 2021 figures. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 19,963% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, soybean oil exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant increase. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cuba (X tons) was the main destination for soybean oil exports from Chile, accounting for a approx. 99% share of total exports.

From 2015 to 2022, the average annual rate of growth in terms of volume to Cuba was relatively modest.

From 2015 to 2022, the average annual growth rate of value to Cuba was relatively modest.

Export Prices by Country

The average soybean oil export price stood at $X per ton in 2022, picking up by 59% against the previous year. Overall, the export price showed a buoyant expansion. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Cuba.

From 2015 to 2022, the rate of growth in terms of prices for Cuba amounted to 0.0% per year.

Soybean Oil Imports

Imports into Chile

In 2022, supplies from abroad of soybean oil increased by 9.7% to X tons, rising for the third consecutive year after three years of decline. Overall, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when imports increased by 256%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, soybean oil imports soared to $X in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 213%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of soybean oil to Chile, with a 89% share of total imports. Moreover, soybean oil imports from Argentina exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina amounted to +24.8%.

In value terms, Argentina ($X) constituted the largest supplier of soybean oil to Chile, comprising 89% of total imports. The second position in the ranking was taken by Bolivia ($X), with a 9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina amounted to +26.4%.

Import Prices by Country

In 2022, the average soybean oil import price amounted to $X per ton, picking up by 27% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soybean oil import price increased by +80.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 42%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Bolivia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.3%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for soybean oil in the world?

The countries with the highest volumes of in 2021 were China, the United States and Brazil, with a combined 59% share of global consumption. These countries were followed by India, Argentina, Nigeria and Bangladesh, which together accounted for a further 19%.

What are the largest producers of soybean oil in the world?

The countries with the highest volumes of in 2021 were China, Brazil and the United States, with a combined 64% share of global production.

What are the leading suppliers of soybean oil to Chile?

In value terms, Argentina constituted the largest supplier of soybean oil to Chile, comprising 93% of total imports. The second position in the ranking was occupied by Bolivia, with a 5.8% share of total imports.

What are the leading importers of soybean oil from Chile?

In value terms, the largest markets for soybean oil exported from Chile were Guatemala, Venezuela and Malaysia, with a combined 99% share of total exports.

What is the average export price for soybean oil in Chile?

The average soybean oil export price stood at $1,385 per ton in 2021, reducing by -26.2% against the previous year.

What is the average import price for soybean oil in Chile?

In 2021, the average soybean oil import price amounted to $1,421 per ton, surging by 42% against the previous year.

This report provides an in-depth analysis of the soybean oil market in Chile. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 237 - Oil of Soybeans

Country coverage:

Chile

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Chile
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023