Latin America and the Caribbean: Oil Crops Market 2024

Oil Crops Market Size in Latin America and the Caribbean

The Latin American oil crops market fell modestly to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Oil Crops Production in Latin America and the Caribbean

In value terms, oil crops production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a slight decline. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Brazil (X tons) constituted the country with the largest volume of oil crops production, accounting for X% of total volume. Moreover, oil crops production in Brazil exceeded the figures recorded by the second-largest producer, Argentina (X tons), threefold. The third position in this ranking was held by Paraguay (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Brazil totaled X%. The remaining producing countries recorded the following average annual rates of production growth: Argentina (X% per year) and Paraguay (X% per year).

The average oil crops yield dropped to X tons per ha in 2022, remaining stable against the year before. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2018 to 2022, the growth of the oil crops yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the oil crops harvested area in Latin America and the Caribbean declined to X ha, with a decrease of X% compared with the previous year. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of X%. The level of harvested area peaked at X ha in 2021, and then declined in the following year.

Oil Crops Exports

Exports in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in overseas shipments of oil crops (primary), when their volume decreased by X% to X tons. Total exports indicated prominent growth from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, oil crops exports surged to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value 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, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Brazil dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Argentina (X tons), making up a X% share of total exports. Uruguay (X tons) and Paraguay (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the oil crops (primary) exports, with a CAGR of X% from 2012 to 2022. At the same time, Uruguay (X%) displayed positive paces of growth. Paraguay experienced a relatively flat trend pattern. By contrast, Argentina (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Uruguay (X p.p.), Paraguay (X p.p.) and Argentina (X p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest oil crops supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports. It was followed by Uruguay, with a X% share.

In Brazil, oil crops exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Uruguay (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Uruguay ($X per ton) and Argentina ($X per ton), while Paraguay ($X per ton) and Brazil ($X per ton) were amongst the lowest.

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

Oil Crops Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of oil crops (primary) were imported in Latin America and the Caribbean; reducing by X% against the year before. Overall, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, oil crops imports shrank to $X in 2022. Over the period under review, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then declined in the following year.

Imports by Country

Argentina (X tons) and Mexico (X tons) prevails in imports structure, together generating X% of total imports. Colombia (X tons) ranks next in terms of the total imports with a X% share, followed by Brazil (X%). The following importers - Costa Rica (X tons) and Peru (X tons) - each finished at an X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Argentina (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Argentina ($X) and Colombia ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Argentina, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price posted noticeable growth. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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