Venezuela: Crude Glycerol Market 2024

Crude Glycerol Market Size in Venezuela

The Venezuelan crude glycerol market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.7% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Crude Glycerol Production in Venezuela

In value terms, crude glycerol production rose notably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -19.6% against 2018 indices. The pace of growth appeared the most rapid in 2017 with an increase of 46% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Crude Glycerol Exports

Exports from Venezuela

In 2015, the amount of crude glycerol, glycerine waters and lyes exported from Venezuela surged to X tons, jumping by 23,995% on the previous year's figure. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude glycerol exports soared to $X in 2015. In general, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Colombia (X tons) was the main destination for crude glycerol exports from Venezuela, with a approx. 100% share of total exports.

From 2014 to 2015, the average annual growth rate of volume to Colombia was relatively modest.

From 2014 to 2015, the average annual rate of growth in terms of value to Colombia was relatively modest.

Export Prices by Country

In 2015, the average crude glycerol export price amounted to $X per ton, with a decrease of -11.5% against the previous year. In general, the export price continues to indicate a abrupt decline. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014, and then reduced in the following year.

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

From 2014 to 2015, the rate of growth in terms of prices for Colombia amounted to 0.0% per year.

Crude Glycerol Imports

Imports into Venezuela

In 2021, overseas purchases of crude glycerol, glycerine waters and lyes increased by 96% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 637% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, crude glycerol imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2016 when imports increased by 363%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) was the main supplier of crude glycerol to Venezuela, accounting for a 95% share of total imports. It was followed by Panama (X kg), with a 2.2% share of total imports. The third position in this ranking was held by Spain (X kg), with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands amounted to +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+21.8% per year) and Spain (-18.9% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of crude glycerol, glycerine waters and lyes to Venezuela, comprising 88% of total imports. The second position in the ranking was held by Panama ($X), with a 3.9% share of total imports. It was followed by Spain, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands amounted to -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-10.8% per year) and Spain (-34.0% per year).

Import Prices by Country

The average crude glycerol import price stood at $X per ton in 2021, declining by -4.2% against the previous year. In general, the import price saw a deep setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 75% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-8.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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