Puerto Rico: Tall Oil Market 2024

Tall Oil Market Size in Puerto Rico

The Puerto Rican tall oil market amounted to less than $X in 2021, remaining relatively unchanged 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern.

Tall Oil Exports

Exports from Puerto Rico

In 2021, approx. less than X kg of tall oil were exported from Puerto Rico; standing approx. at the previous year. In general, exports recorded a relatively flat trend pattern.

In value terms, tall oil exports totaled less than $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern.

Exports by Country

In 2021, the United States (X tons) was the major exporter of tall oil, constituting 54% of total exports. It was distantly followed by Finland (X tons), Sweden (X tons) and Russia (X tons), together constituting a 31% share of total exports. Belarus (X tons), Brazil (X tons), Germany (X tons), Canada (X tons) and Spain (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to tall oil exports from the United States stood at +1.5%. At the same time, Belarus (+125.4%), Brazil (+39.9%), Sweden (+13.8%) and Russia (+6.1%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the world, with a CAGR of +125.4% from 2012-2021. Finland experienced a relatively flat trend pattern. By contrast, Spain (-1.0%), Canada (-6.4%) and Germany (-8.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sweden, Belarus, Russia and Brazil increased by +5.9, +3.3, +2.3 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest tall oil supplier from Puerto Rico, comprising 49% of global exports. The second position in the ranking was held by Finland ($X), with a 16% share of global exports. It was followed by Sweden, with a 12% share.

In the United States, tall oil exports increased at an average annual rate of +1.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Finland (+2.4% per year) and Sweden (+8.2% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, standing approx. at the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+3.5%), while the other leaders experienced more modest paces of growth.

Tall Oil Imports

Imports into Puerto Rico

In 2021, the amount of tall oil imported into Puerto Rico totaled less than X kg, therefore, remained relatively stable against the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, tall oil imports totaled less than $X in 2021. Overall, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, Finland (X tons) was the key importer of tall oil, committing 39% of total imports. France (X tons) ranks second in terms of the total imports with a 16% share, followed by Japan (12%), Austria (8.4%), China (5.5%) and Sweden (1.3%). The United States (X tons), Russia (X tons) and the UK (X tons) took a minor share of total imports.

Imports into Finland increased at an average annual rate of +5.2% from 2012 to 2021. At the same time, Russia (+35.9%), France (+19.4%) and China (+4.8%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in the world, with a CAGR of +35.9% from 2012-2021. Austria and the United States experienced a relatively flat trend pattern. By contrast, Japan (-3.5%), the UK (-24.4%) and Sweden (-26.1%) illustrated a downward trend over the same period. While the share of Finland (+15 p.p.), France (+13 p.p.), Russia (+2.6 p.p.) and China (+2 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Japan (-4.1 p.p.), the UK (-4.8 p.p.) and Sweden (-18 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Finland ($X), France ($X) and Japan ($X) were the countries with the highest levels of imports in 2021, together accounting for 58% of total imports.

In terms of the main importing countries, France, with a CAGR of +17.7%, recorded the highest growth rate of 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

In 2021, the import price in Puerto Rico amounted to less than $X per ton, standing approx. at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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