MERCOSUR: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in MERCOSUR

In 2022, after two years of growth, there was decline in the MERCOSUR crude rapeseed oil market, when its value decreased by -2.2% to $X. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +46.2% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2021, and then shrank modestly in the following year.

Crude Rapeseed Oil Production in MERCOSUR

In value terms, crude rapeseed oil production stood at $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Crude Rapeseed Oil Exports

Exports in MERCOSUR

In 2022, crude rapeseed oil exports in MERCOSUR soared to X tons, increasing by 58% compared with the previous year. Overall, exports saw a notable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude rapeseed oil exports soared to $X in 2022. In general, exports continue to indicate a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Paraguay (X tons) and Uruguay (X tons) prevails in exports structure, together making up 92% of total exports. Brazil (X tons) and Chile (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Brazil (with a CAGR of +90.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest crude rapeseed oil supplying countries in MERCOSUR were Paraguay ($X), Uruguay ($X) and Chile ($X), with a combined 95% share of total exports. These countries were followed by Brazil, which accounted for a further 3.7%.

Brazil, with a CAGR of +92.2%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 MERCOSUR stood at $X per ton in 2022, surging by 36% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude rapeseed oil export price increased by +116.7% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by 42% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+8.0%), while the other leaders experienced more modest paces of growth.

Crude Rapeseed Oil Imports

Imports in MERCOSUR

In 2022, the amount of crude rape, colza or mustard oil imported in MERCOSUR declined notably to X tons, shrinking by -15.3% on the previous year. In general, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2017 with an increase of 91% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, crude rapeseed oil imports expanded remarkably to $X in 2022. Over the period under review, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 101% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Chile represented the main importing country with an import of around X tons, which finished at 78% of total imports. Colombia (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (10%).

Chile was also the fastest-growing in terms of the crude rape, colza or mustard oil imports, with a CAGR of +7.4% from 2012 to 2022. At the same time, Colombia (+6.9%) and Brazil (+4.0%) displayed positive paces of growth. From 2012 to 2022, the share of Chile increased by +10 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported crude rape, colza or mustard oil in MERCOSUR, comprising 80% of total imports. The second position in the ranking was taken by Brazil ($X), with a 9.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile stood at +11.2%. In the other countries, the average annual rates were as follows: Brazil (+8.4% per year) and Colombia (+8.2% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, with an increase of 27% against the previous year. Overall, the import price posted a notable increase. The growth pace was the most rapid in 2021 when the import price increased by 76%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform