Peru: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Peru

The Peruvian chemically modified oils market fell slightly to $X in 2022, shrinking by -2.1% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.9% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Chemically Modified Oils Production in Peru

In value terms, chemically modified oils production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, saw strong growth. The growth pace was the most rapid in 2019 when the production volume increased by 50%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Chemically Modified Oils Exports

Exports from Peru

In 2022, exports of animal or vegetable fats and oils chemically modified from Peru fell significantly to X tons, waning by -19.5% compared with the previous year. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 with an increase of 7,252%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, chemically modified oils exports reduced remarkably to $X in 2022. Overall, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 4,802% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined remarkably in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for chemically modified oils exports from Peru, accounting for a 88% share of total exports. Moreover, chemically modified oils exports to the Netherlands exceeded the volume sent to the second major destination, Portugal (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +82.4%.

In value terms, the Netherlands ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Peru, comprising 85% of total exports. The second position in the ranking was held by Portugal ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Netherlands totaled +85.8%.

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, which is down by -11.7% against the previous year. Over the period under review, the export price showed a perceptible setback. The growth pace was the most rapid in 2021 when the average export price increased by 33%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Chemically Modified Oils Imports

Imports into Peru

In 2022, the amount of animal or vegetable fats and oils chemically modified imported into Peru skyrocketed to X tons, increasing by 18% against 2021 figures. In general, imports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 44% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, chemically modified oils imports amounted to $X in 2022. Overall, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 32%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Brazil (X tons) and Chile (X tons) were the main suppliers of chemically modified oils imports to Peru, together comprising 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +12.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Brazil ($X), the United States ($X) and Chile ($X) constituted the largest chemically modified oils suppliers to Peru, with a combined 94% share of total imports.

The United States, with a CAGR of +6.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average chemically modified oils import price stood at $X per ton in 2022, waning by -12% against the previous year. Overall, the import price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 26% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Brazil ($X per ton) and Argentina ($X per ton), while the price for Chile ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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