Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile - 2023

Contents:

1. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile (CIF) - 2023
2. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile (FOB) - 2022
3. Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile
4. Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile (CIF) - 2023

In November 2023, the average import price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,474 per ton, shrinking by -2.7% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 14% m-o-m. As a result, import price attained the peak level of $1,761 per ton. From May 2023 to November 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Singapore ($3,660 per ton), while the price for Indonesia ($1,074 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile (FOB) - 2022

In 2022, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $3,976 per ton, which is down by -19.2% against the previous year. Overall, the export price saw a mild downturn. The pace of growth appeared the most rapid in 2019 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $6,020 per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($10,428 per ton), while the average price for exports to Peru ($2,558 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 Brazil (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile

In 2022, supplies from abroad of liquid margarine and edible mixtures of animal or vegetable fats increased by 2.6% to 94K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a precipitous decrease.

In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats surged to $161M in 2022. In general, imports, however, continue to indicate a noticeable reduction.

Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to Chile in 2022:

1. Argentina (77.5K tons)
2. Malaysia (8.0K tons)
3. Colombia (2.9K tons)

Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Chile

For the fourth year in a row, Chile recorded growth in overseas shipments of liquid margarine and edible mixtures of animal or vegetable fats, which increased by 18% to 724 tons in 2022. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 50% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats fell to $2.9M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +9.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 82%. As a result, the exports attained the peak of $3M, and then dropped slightly in the following year.

Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from Chile in 2022:

1. Peru (327.2 tons)
2. Vietnam (166.3 tons)
3. Canada (72.0 tons)
4. Argentina (49.7 tons)
5. Australia (45.6 tons)
6. Mexico (32.0 tons)
7. India (16.0 tons)
8. South Korea (1.6 tons)
9. United States (1.2 tons)

Source: IndexBox Market Intelligence Platform