Ecuador: Animal Fats Market 2025

Animal Fats Market Size in Ecuador

The Ecuadorian animal fats market reduced notably to $X in 2021, declining by -20.8% against the previous year. Overall, consumption, however, saw a strong increase. As a result, consumption attained the peak level of $X, and then reduced dramatically in the following year.

Animal Fats Production in Ecuador

In value terms, animal fats production shrank remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 82%. As a result, production attained the peak level of $X, and then contracted significantly in the following year.

Animal Fats Exports

Exports from Ecuador

In 2020, approx. X kg of animal fats and oils were exported from Ecuador; falling by -18.8% on the previous year's figure. Overall, exports, however, posted a significant increase. Over the period under review, the exports reached the peak figure at X kg in 2019, and then shrank markedly in the following year.

In value terms, animal fats exports totaled $X in 2020. Over the period under review, exports, however, enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X kg) was the main destination for animal fats exports from Ecuador, with a approx. 100% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to China amounted to -18.8%.

In value terms, China ($X) also remains the key foreign market for animal fats and oils exports from Ecuador.

From 2012 to 2020, the average annual rate of growth in terms of value to China was relatively modest.

Export Prices by Country

In 2020, the average animal fats export price amounted to $X per ton, surging by 24% against the previous year. Over the period under review, the export price saw prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2020, the rate of growth in terms of prices for China amounted to +23.8% per year.

Animal Fats Imports

Imports into Ecuador

For the fourth consecutive year, Ecuador recorded growth in supplies from abroad of animal fats and oils, which increased by 8.9% to X tons in 2021. Over the period under review, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 2,398% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, animal fats imports rose notably to $X in 2021. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 1,271% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Norway (X tons) constituted the largest animal fats supplier to Ecuador, accounting for a 86% share of total imports. Moreover, animal fats imports from Norway exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume from Norway totaled +125.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+50.3% per year) and Colombia (+38.2% per year).

In value terms, Norway ($X) constituted the largest supplier of animal fats and oils to Ecuador, comprising 81% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Norway stood at +88.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+46.9% per year) and Colombia (+37.8% per year).

Import Prices by Country

The average animal fats import price stood at $X per ton in 2021, waning by -3% against the previous year. Over the period under review, the import price, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 199%. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :