Peru: Linseed Oil Market 2024

Linseed Oil Market Size in Peru

The Peruvian linseed oil market fell remarkably to $X in 2022, with a decrease of -20.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a abrupt setback. Linseed oil consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Linseed Oil Exports

Exports from Peru

In 2022, after two years of growth, there was significant decline in shipments abroad of linseed oil, when their volume decreased by -52.9% to X tons. In general, exports continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2021 with an increase of 262% against the previous year. As a result, the exports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, linseed oil exports contracted sharply to $X in 2022. Over the period under review, exports showed a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 128%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for linseed oil exports from Peru, accounting for a 43% share of total exports. Moreover, linseed oil exports to Malaysia exceeded the volume sent to the second major destination, the United States (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia stood at +31.8%.

In value terms, Malaysia ($X) and the United States ($X) appeared to be the largest markets for linseed oil exported from Peru worldwide.

In terms of the main countries of destination, Malaysia, with a CAGR of +14.0%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, jumping by 53% against the previous year. Over the period under review, the export price, however, saw a perceptible contraction. The pace of growth appeared the most rapid in 2019 an increase of 243% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.0%), while the prices for the other major destinations experienced mixed trend patterns.

Linseed Oil Imports

Imports into Peru

In 2022, the amount of linseed oil imported into Peru reduced markedly to X tons, shrinking by -29% compared with the previous year. In general, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 135%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, linseed oil imports declined dramatically to $X in 2022. Over the period under review, imports continue to indicate a perceptible downturn. The growth pace was the most rapid in 2021 when imports increased by 212% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of linseed oil imports to Peru, with a combined 49% share of total imports. Canada, the United States, Spain and Brazil lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +23.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Spain ($X) constituted the largest linseed oil suppliers to Peru, together accounting for 45% of total imports.

Among the main suppliers, Spain, with a CAGR of +33.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average linseed oil import price stood at $X per ton in 2022, reducing by -7.1% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed oil import price increased by +58.5% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 33% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

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 Spain ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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