Chile: Vegetable Oils Market 2024

Vegetable Oils Market Size in Chile

The Chilean vegetable oils market surged to $X in 2022, growing by X% against the previous year. Overall, consumption, however, recorded a noticeable setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Oils Production in Chile

In value terms, vegetable oils production contracted sharply to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt downturn. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Vegetable oils production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Vegetable Oils Exports

Exports from Chile

After three years of growth, overseas shipments of vegetable fats and oils decreased by X% to X tons in 2022. Overall, exports, however, posted buoyant growth. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at X tons in 2021, and then dropped notably in the following year.

In value terms, vegetable oils exports rose rapidly to $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Peru (X tons) was the main destination for vegetable oils exports from Chile, with a X% share of total exports. Moreover, vegetable oils exports to Peru exceeded the volume sent to the second major destination, Paraguay (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (X% per year) and Argentina (X% per year).

In value terms, Peru ($X) remains the key foreign market for vegetable fats and oils exports from Chile, comprising X% of total exports. The second position in the ranking was held by Paraguay ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Peru amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (X% per year) and Argentina (X% per year).

Export Prices by Country

In 2022, the average vegetable oils export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price, however, showed a mild decline. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

Vegetable Oils Imports

Imports into Chile

In 2022, after four years of decline, there was significant growth in supplies from abroad of vegetable fats and oils, when their volume increased by X% to X tons. Over the period under review, imports, however, showed a abrupt downturn. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, vegetable oils imports skyrocketed to $X in 2022. In general, imports, however, recorded a pronounced decrease. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Peru (X tons) and Ecuador (X tons) were the main suppliers of vegetable oils imports to Chile, together comprising X% of total imports. Indonesia, Sweden, Argentina and Colombia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Peru ($X) and Ecuador ($X) were the largest vegetable oils suppliers to Chile, together accounting for X% of total imports. Indonesia, Sweden, Argentina and Colombia lagged somewhat behind, together comprising a further X%.

Sweden, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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 a noticeable increase 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 2019 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Sweden ($X per ton) and Malaysia ($X per ton), while the price for Indonesia ($X per ton) and Colombia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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