Paraguay: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Paraguay

The Paraguayan chemically modified oils market expanded slightly to $X in 2022, surging by 4.4% against the previous year. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +41.7% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Chemically Modified Oils Production in Paraguay

In value terms, chemically modified oils production amounted to $X in 2022 estimated in export price. In general, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.0% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 28%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Chemically Modified Oils Exports

Exports from Paraguay

In 2022, the amount of animal or vegetable fats and oils chemically modified exported from Paraguay surged to X tons, with an increase of 87% on the previous year. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2013 with an increase of 621%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 354% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Chile (X tons), the Netherlands (X tons) and Belgium (X tons) were the main destinations of chemically modified oils exports from Paraguay.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +192.0%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Paraguay, comprising 64% of total exports. The second position in the ranking was taken by Chile ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to +210.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (0.0% per year) and Belgium (0.0% per year).

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, picking up by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+6.4%), while the prices for the other major destinations experienced a decline.

Chemically Modified Oils Imports

Imports into Paraguay

For the third year in a row, Paraguay recorded growth in purchases abroad of animal or vegetable fats and oils chemically modified, which increased by 75% to X tons in 2022. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 395% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, chemically modified oils imports soared to $X in 2022. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 332% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Argentina (X tons) was the main supplier of chemically modified oils to Paraguay, accounting for a 95% share of total imports. Moreover, chemically modified oils imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina totaled +96.3%.

In value terms, Argentina ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Paraguay, comprising 90% of total imports. The second position in the ranking was taken by Brazil ($X), with a 9.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina totaled +83.2%.

Import Prices by Country

In 2022, the average chemically modified oils import price amounted to $X per ton, increasing by 4.5% against the previous year. Overall, the import price, however, recorded a slight descent. The pace of growth appeared the most rapid in 2016 an increase of 23%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Argentina totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+5.4%).

Source: IndexBox Platform