MERCOSUR: Oleo Oils Market 2024

Oleo Oils Market Size in MERCOSUR

After two years of growth, the MERCOSUR oleo oils market decreased by -28.4% to $X in 2021. Overall, consumption showed a deep downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Oleo Oils Production in MERCOSUR

In value terms, oleo oils production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2018 with an increase of 14% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Oleo Oils Exports

Exports in MERCOSUR

In 2021, shipments abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports saw a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 276%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, oleo oils exports skyrocketed to $X in 2021. Overall, exports recorded measured growth. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Uruguay prevails in exports structure, accounting for X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Argentina (X tons), making up a 9.5% share of total exports.

Uruguay was also the fastest-growing in terms of the lard stearin, lard oil, oleostearin, oleo-oil and tallow oil exports, with a CAGR of +13.7% from 2012 to 2021. At the same time, Argentina (+3.3%) displayed positive paces of growth. While the share of Uruguay (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Argentina (-10.2 p.p.) displayed negative dynamics.

In value terms, Uruguay ($X) remains the largest oleo oils supplier in MERCOSUR, comprising 88% of total exports. The second position in the ranking was taken by Argentina ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Uruguay amounted to +5.5%.

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, shrinking by -7.8% against the previous year. Over the period under review, the export price recorded a deep downturn. The pace of growth was the most pronounced in 2018 when the export price increased by 80%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Argentina ($X per ton), while Uruguay totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-4.5%).

Oleo Oils Imports

Imports in MERCOSUR

In 2021, supplies from abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by -16.9% to X tons, falling for the third consecutive year after two years of growth. In general, imports showed a mild reduction. The pace of growth was the most pronounced in 2018 when imports increased by 66% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, oleo oils imports dropped remarkably to $X in 2021. Over the period under review, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 22%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Uruguay was the largest importer of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in MERCOSUR, with the volume of imports reaching X tons, which was approx. 56% of total imports in 2021. It was distantly followed by Argentina (X tons), comprising a 35% share of total imports. Brazil (X tons), Peru (X tons) and Chile (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 main importing countries, was attained by Peru (with a CAGR of +38.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Uruguay ($X) constitutes the largest market for imported lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in MERCOSUR, comprising 61% of total imports. The second position in the ranking was taken by Argentina ($X), with a 21% share of total imports. It was followed by Peru, with a 7.2% share.

In Uruguay, oleo oils imports decreased by an average annual rate of -2.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+1.5% per year) and Peru (+42.6% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, falling by -11.8% against the previous year. In general, the import price continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2019 when the import price increased by 11%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform