Report Update Nov 1, 2024

Uruguay - Refined Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Uruguay: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Uruguay

The Uruguayan refined palm oil market rose sharply to $X in 2022, surging by 8.2% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Refined palm oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Refined Palm Oil Production in Uruguay

In value terms, refined palm oil production dropped modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 63%. Refined palm oil production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Refined Palm Oil Exports

Exports from Uruguay

After three years of growth, overseas shipments of refined palm oil decreased by -96.1% to X tons in 2022. In general, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2014 when exports increased by 730% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted remarkably in the following year.

In value terms, refined palm oil exports shrank rapidly to $X in 2022. Over the period under review, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 863%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for refined palm oil exports from Uruguay, accounting for a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil stood at -6.9%.

In value terms, Brazil ($X) also remains the key foreign market for refined palm oil exports from Uruguay.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil amounted to -14.5%.

Export Prices by Country

The average refined palm oil export price stood at $X per ton in 2022, waning by -5.5% against the previous year. Overall, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by 16%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to -8.2% per year.

Refined Palm Oil Imports

Imports into Uruguay

In 2022, overseas purchases of refined palm oil increased by 22% to X tons, rising for the third consecutive year after two years of decline. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +11.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 63% 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.

In value terms, refined palm oil imports skyrocketed to $X in 2022. Over the period under review, imports showed strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Denmark (X tons) constituted the largest refined palm oil supplier to Uruguay, with a 54% share of total imports. Moreover, refined palm oil imports from Denmark exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from Denmark totaled +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+127.6% per year) and Indonesia (+7.4% per year).

In value terms, Denmark ($X) constituted the largest supplier of refined palm oil to Uruguay, comprising 56% of total imports. The second position in the ranking was taken by Brazil ($X), with a 21% share of total imports. It was followed by Indonesia, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Denmark stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+194.2% per year) and Indonesia (+12.8% per year).

Import Prices by Country

The average refined palm oil import price stood at $X per ton in 2022, jumping by 32% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+29.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined palm oil in the world?

The country with the largest volume of refined palm oil consumption was China, accounting for 12% of total volume. Moreover, refined palm oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with a 5.6% share.

What are the largest producers of refined palm oil in the world?

Indonesia remains the largest refined palm oil producing country worldwide, accounting for 28% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. India ranked third in terms of total production with a 5.2% share.

What are the leading suppliers of refined palm oil to Uruguay?

In value terms, Denmark constituted the largest supplier of refined palm oil to Uruguay, comprising 64% of total imports. The second position in the ranking was occupied by Indonesia, with a 28% share of total imports. It was followed by Malaysia, with a 2.9% share.

What are the leading importers of refined palm oil from Uruguay?

In value terms, Brazil remains the key foreign market for refined palm oil exports from Uruguay.

What is the average export price for refined palm oil in Uruguay?

In 2021, the average refined palm oil export price amounted to $1,562 per ton, falling by -19.3% against the previous year.

What is the average import price for refined palm oil in Uruguay?

In 2021, the average refined palm oil import price amounted to $1,527 per ton, with an increase of 12% against the previous year.

This report provides an in-depth analysis of the refined palm oil market in Uruguay. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

Country coverage:

Uruguay

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Uruguay
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023