Venezuela: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Venezuela

The Venezuelan market for lauric acid and other acids, their salts and esters reduced to $X in 2021, falling by -9.4% 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 showed a sharp contraction. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Venezuela

In 2021, shipments abroad of lauric acid and other acids, their salts and esters increased by 18% to X kg, rising for the second consecutive year after three years of decline. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 760%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of lauric acid and other acids, their salts and esters stood at $X in 2021. In general, exports saw significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 987% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Costa Rica (X kg) was the main destination for exports of lauric acid and other acids, their salts and esters from Venezuela, accounting for a 69% share of total exports. Moreover, exports of lauric acid and other acids, their salts and esters to Costa Rica exceeded the volume sent to the second major destination, Colombia (X kg), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Costa Rica totaled +82.8%.

In value terms, Colombia ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Venezuela, comprising 84% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia stood at +22.0%.

Export Prices by Country

The average export price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, which is down by -15.3% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 107%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per ton), while the average price for exports to Costa Rica stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+12.8%), while the prices for the other major destinations experienced a decline.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Venezuela

In 2021, approx. X tons of lauric acid and other acids, their salts and esters were imported into Venezuela; shrinking by -29.8% compared with the previous year's figure. Over the period under review, imports saw a dramatic descent. The most prominent rate of growth was recorded in 2020 with an increase of 55%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Overall, imports recorded a precipitous slump. The pace of growth was the most pronounced in 2020 with an increase of 32%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Argentina (X tons), Sweden (X tons) and Mexico (X tons) were the main suppliers of imports of lauric acid and other acids, their salts and esters to Venezuela, with a combined 81% share of total imports. Germany, Belgium, the UK, the United States, India, the Netherlands and Spain lagged somewhat behind, together comprising a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of -7.0%), while imports for the other leaders experienced a decline.

In value terms, the largest lauric acid and other acids, their salts and esters suppliers to Venezuela were Argentina ($X), the UK ($X) and Germany ($X), with a combined 61% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of +3.9%, 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 a decline.

Import Prices by Country

The average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, increasing by 71% against the previous year. In general, the import price, however, recorded a deep reduction. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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