Uruguay: Rapeseed Oil Market 2025

Rapeseed Oil Market Size in Uruguay

The Uruguayan rapeseed oil market declined to $X in 2022, which is down by -6.3% against the previous year. Over the period under review, consumption, however, showed a abrupt shrinkage. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Rapeseed Oil Production in Uruguay

In value terms, rapeseed oil production rose significantly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 79%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Rapeseed Oil Exports

Exports from Uruguay

In 2022, shipments abroad of rapeseed oil increased by 70% to X tons, rising for the fourth year in a row after five years of decline. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2019 with an increase of 345% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, rapeseed oil exports surged to $X in 2022. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2019 with an increase of 286%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Chile (X tons), the Netherlands (X tons) and Colombia (X tons) were the main destinations of rapeseed oil exports from Uruguay, together accounting for 86% of total exports. The Dominican Republic, Brazil, Spain and the United States lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +30,571,900.0%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), the Netherlands ($X) and Colombia ($X) were the largest markets for rapeseed oil exported from Uruguay worldwide, together comprising 86% of total exports. The Dominican Republic, Brazil, Spain and the United States lagged somewhat behind, together comprising a further 14%.

Among the main countries of destination, Spain, with a CAGR of +911,696.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average rapeseed oil export price stood at $X per ton in 2022, picking up by 51% against the previous year. Over the period under review, the export price, however, showed a noticeable contraction. 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 stood 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 ($X per ton), while the average price for exports to Chile ($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 Colombia (+25.2%), while the prices for the other major destinations experienced more modest paces of growth.

Rapeseed Oil Imports

Imports into Uruguay

In 2022, the amount of rapeseed oil imported into Uruguay contracted sharply to X tons, declining by -16.1% compared with 2021. Overall, imports, however, saw a noticeable expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 320% against the previous year. As a result, imports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, rapeseed oil imports amounted to $X in 2022. In general, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 467% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of rapeseed oil to Uruguay, with a 87% share of total imports. Moreover, rapeseed oil imports from Belgium exceeded the figures recorded by the second-largest supplier, Paraguay (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium amounted to +30.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Paraguay (+0.3% per year) and Brazil (-20.6% per year).

In value terms, Belgium ($X) constituted the largest supplier of rapeseed oil to Uruguay, comprising 94% of total imports. The second position in the ranking was held by Brazil ($X), with a 3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Belgium amounted to +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-21.3% per year) and Paraguay (-6.6% per year).

Import Prices by Country

The average rapeseed oil import price stood at $X per ton in 2022, growing by 37% against the previous year. Overall, the import price continues to indicate slight growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Belgium ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+9.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :