Latin America and the Caribbean: Soybean Oil Market 2020

Soybean Oil Market Size in Latin America and the Caribbean

The revenue of the soybean oil market in Latin America and the Caribbean amounted to $X in 2017, going up by X% against the previous year. The soybean oil consumption continues to indicate a strong increase. The pace of growth was the most pronounced in 2008, with an increase of X% against the previous year. Over the period under review, the soybean oil market reached its maximum level of $X in 2011; however, from 2012 to 2017, it failed to regain its momentum.

Soybean Oil Production in Latin America and the Caribbean

In 2017, production of soya-bean oil in Latin America and the Caribbean totaled X tons, rising by X% against the previous year. The total output volume increased an average annual rate of +X% from 2007 to 2017; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2010, when the output figure increased by X% y-o-y. Over the period under review, the soybean oil production reached its maximum volume in 2017, and is likely to see steady growth in the near future.

Soybean Oil Exports in Latin America and the Caribbean

In 2017, approx. X tons of soya-bean oil were exported in Latin America and the Caribbean; shrinking by -X% against the previous year. The soybean oil exports continue to indicate a pronounced drop. The most prominent rate of growth was recorded in 2015, when exports increased by X% y-o-y. The volume of exports peaked of X tons in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

In value terms, soybean oil exports amounted to $X in 2017. The soybean oil exports continue to indicate a temperate downturn. The level of exports peaked of $X in 2008; however, from 2009 to 2017, it failed to regain its momentum.

Soybean Oil Exports by Country in Latin America and the Caribbean

In 2017, Argentina (X tons) represented the major exporter for soya-bean oil, comprising X% of total exports. It was distantly followed by Brazil (X tons), generating X% share of total exports. Bolivia (X tons) held the weak share of total exports.

From 2007 to 2017, average annual rates of growth with regard to soybean oil exports from Argentina stood at -X%. At the same time, Bolivia (+X%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest growing exporter in Latin America and the Caribbean, with a CAGR of +X% from 2007-2017. By contrast, Brazil (-X%) illustrated a downward trend over the same period. While the share of Argentina (X%) and Brazil (X%) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest soybean oil supplier in Latin America and the Caribbean, making up X% of global exports. The second position in the ranking was occupied by Brazil ($X), with a X% share of global exports. It was followed by Bolivia, with a X% share.

From 2007 to 2017, the average annual growth rate of value in Argentina totaled -X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-X% per year) and Bolivia (+X% per year).

Soybean Oil Export Prices by Country in Latin America and the Caribbean

In 2017, the soybean oil export price in Latin America and the Caribbean amounted to $X per ton, coming up by X% against the previous year. The soybean oil export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008, when the export prices increased by X% year-to-year. The level of export price peaked of $X per ton in 2011; however, from 2012 to 2017, it stood at a somewhat lower level.

Average export prices varied noticeably amongst the major exporting countries. In 2017, major exporting countries recorded the following export prices: in Brazil ($X per ton) and Argentina ($X per ton), while Bolivia ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Argentina (+X% per year), while the other leaders experienced more modest paces of growth.

Soybean Oil Imports in Latin America and the Caribbean

The imports amounted to X tons in 2017, coming up by X% against the previous year. The total import volume increased an average annual rate of +X% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2010, when imports increased by X% year-to-year. Over the period under review, the soybean oil imports attained its peak figure volume in 2017, and are expected to retain its growth in the near future.

In value terms, soybean oil imports amounted to $X in 2017. The total imports indicated a remarkable growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the soybean oil imports increased by +X% against 2015 indices. Over the period under review, the soybean oil imports reached its peak figure level in 2017, and are expected to retain its growth in the immediate term.

Soybean Oil Imports by Country in Latin America and the Caribbean

Venezuela (X tons) and Peru (X tons) represented roughly X% of total imports of soya-bean oil in 2017. Colombia (X tons) occupied the second position in the ranking, followed by Mexico (X tons), the Dominican Republic (X tons) and Ecuador (X tons). All these countries together took near X% share of total imports. Chile (X tons) occupied the weak share of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Chile (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X), Peru ($X) and Colombia ($X) were the countries with the highest levels of imports in 2017, together comprising X% of total imports. Mexico, the Dominican Republic, Ecuador and Chile lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries , Chile (+X% per year) recorded the highest rates of growth with regard to imports, over the last decade, while the other leaders experienced more modest paces of growth.

Soybean Oil Import Prices by Country in Latin America and the Caribbean

In 2017, the soybean oil import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period from 2007 to 2017, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008, an increase of X% year-to-year. Over the period under review, the import prices for soya-bean oil attained its peak figure level of $X per ton in 2012; however, from 2013 to 2017, it stood at a somewhat lower level.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Venezuela ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Venezuela (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform