Latin America and the Caribbean: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Latin America and the Caribbean

The Latin American soybean oilcake market soared to $X in 2021, jumping by 48% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Soybean Oilcake Production in Latin America and the Caribbean

In value terms, soybean oilcake production rose to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 8.6% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Soybean Oilcake Exports

Exports in Latin America and the Caribbean

In 2021, exports of soybean oilcake in Latin America and the Caribbean contracted to X tons, falling by -10.8% compared with the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 9%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, soybean oilcake exports rose markedly to $X in 2021. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 12% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X tons) and Brazil (X tons) prevails in exports structure, together constituting 90% of total exports. Paraguay (X tons) took the next position in the ranking, followed by Bolivia (X tons). All these countries together held near 9.7% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Paraguay (with a CAGR of +16.2%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Argentina ($X) and Paraguay ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 96% of total exports.

In terms of the main exporting countries, Paraguay, with a CAGR of +16.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, surging by 24% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Brazil ($X per ton) and Argentina ($X per ton), while Bolivia ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+0.3%), while the other leaders experienced a decline in the export price figures.

Soybean Oilcake Imports

Imports in Latin America and the Caribbean

In 2021, imports of soybean oilcake in Latin America and the Caribbean expanded markedly to X tons, picking up by 9.7% on the previous year's figure. The total import volume increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 14%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, soybean oilcake imports soared to $X in 2021. The total import value increased at an average annual rate of +4.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of soybean oilcake imports in 2021 were Mexico (X tons), Colombia (X tons), Peru (X tons), Ecuador (X tons) and Chile (X tons), together recording 75% of total import. It was distantly followed by Guatemala (X tons), comprising a 5.2% share of total imports. Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ecuador (with a CAGR of +12.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soybean oilcake importing markets in Latin America and the Caribbean were Mexico ($X), Colombia ($X) and Ecuador ($X), together accounting for 50% of total imports.

In terms of the main importing countries, Ecuador, with a CAGR of +12.6%, recorded the highest rates of growth with regard to the value of imports, 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 2021, surging by 21% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Ecuador ($X per ton) and Guatemala ($X per ton), while Venezuela ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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