Latin America and the Caribbean: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Latin America and the Caribbean

The Latin American sunflower oilcake market rose sharply to $X in 2021, surging by 5.5% against the previous year. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Sunflower Oilcake Production in Latin America and the Caribbean

In value terms, sunflower oilcake production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by 16%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Sunflower Oilcake Exports

Exports in Latin America and the Caribbean

In 2021, exports of sunflower oilcake in Latin America and the Caribbean contracted sharply to X tons, declining by -73.2% against the previous year's figure. In general, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2019 with an increase of 68%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, sunflower oilcake exports declined notably to $X in 2021. Over the period under review, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2019 with an increase of 50%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Bolivia represented the largest exporter of sunflower oilcake in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was near 68% of total exports in 2021. It was distantly followed by Argentina (X tons), comprising a 32% share of total exports.

Bolivia was also the fastest-growing in terms of the sunflower oilcake exports, with a CAGR of +3.3% from 2012 to 2021. Argentina (-28.4%) illustrated a downward trend over the same period. While the share of Bolivia (+60 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Argentina (-59.9 p.p.) displayed negative dynamics.

In value terms, Bolivia ($X) emerged as the largest sunflower oilcake supplier in Latin America and the Caribbean, comprising 80% of total exports. The second position in the ranking was held by Argentina ($X), with a 20% share of total exports.

In Bolivia, sunflower oilcake exports expanded at an average annual rate of +1.0% over the period from 2012-2021.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 44% against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sunflower oilcake export price increased by +29.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 45%. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Bolivia ($X per ton), while Argentina totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-1.1%).

Sunflower Oilcake Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of sunflower oilcake were imported in Latin America and the Caribbean; which is down by -9.8% against the year before. Over the period under review, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2020 with an increase of 77%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, sunflower oilcake imports amounted to $X in 2021. Overall, imports showed a perceptible contraction. The pace of growth appeared the most rapid in 2020 with an increase of 74% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of sunflower oilcake, namely Chile, Uruguay, Colombia and Peru, represented more than two-thirds of total import. Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +24.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Chile ($X) constitutes the largest market for imported sunflower oilcake in Latin America and the Caribbean, comprising 43% of total imports. The second position in the ranking was held by Peru ($X), with a 21% share of total imports. It was followed by Colombia, with a 21% share.

In Chile, sunflower oilcake imports declined by an average annual rate of -6.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Peru (+28.8% per year) and Colombia (-6.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 23% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Peru ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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