Colombia: Market for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters 2024

Market Size for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Colombia

The Colombian market for oleic, linoleic or linolenic acids, their salts and esters shrank markedly to $X in 2021, with a decrease of -30.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a deep contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Exports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Exports from Colombia

In 2021, overseas shipments of oleic, linoleic or linolenic acids, their salts and esters decreased by -40.9% to X tons, falling for the second year in a row after four years of growth. In general, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 465% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, oleic, linoleic or linolenic acids exports reduced notably to $X in 2021. Over the period under review, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 454% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for oleic, linoleic or linolenic acids exports from Colombia, accounting for a 59% share of total exports. Moreover, oleic, linoleic or linolenic acids exports to Mexico exceeded the volume sent to the second major destination, Brazil (X tons), threefold. Chile (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico stood at +44.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (0.0% per year) and Chile (+4.9% per year).

In value terms, Mexico ($X) remains the key foreign market for oleic, linoleic or linolenic acids, their salts and esters exports from Colombia, comprising 59% of total exports. The second position in the ranking was taken by Brazil ($X), with an 11% share of total exports. It was followed by Costa Rica, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico amounted to +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (0.0% per year) and Costa Rica (-9.1% per year).

Export Prices by Country

In 2021, the average export price for oleic, linoleic or linolenic acids, their salts and esters amounted to $X per ton, picking up by 3.6% against the previous year. Overall, the export price, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 13% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Brazil ($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 Venezuela (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Imports into Colombia

In 2021, approx. X tons of oleic, linoleic or linolenic acids, their salts and esters were imported into Colombia; shrinking by -50.3% on 2020. Over the period under review, imports saw a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 54% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, oleic, linoleic or linolenic acids imports declined to $X in 2021. Overall, imports recorded a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by 31% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Indonesia (X tons), the United States (X tons) and Malaysia (X tons) were the main suppliers of oleic, linoleic or linolenic acids imports to Colombia, with a combined 92% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +25.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest oleic, linoleic or linolenic acids suppliers to Colombia were the United States ($X), Indonesia ($X) and Malaysia ($X), together accounting for 78% of total imports.

Indonesia, with a CAGR of +31.3%, 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 a decline.

Import Prices by Country

In 2021, the average import price for oleic, linoleic or linolenic acids, their salts and esters amounted to $X per ton, jumping by 77% against the previous year. Overall, the import price recorded a prominent increase. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 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 the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :