Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States - 2023
Contents:
- Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States (FOB) - 2023
- Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States (CIF) - 2022
- Exports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States
- Imports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States
Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States (FOB) - 2023
In December 2023, the average export price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds amounted to $9,273 per ton, surging by 107% against the previous month. In general, the export price saw a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In December 2023, the country with the highest price was Canada ($14,169 per ton), while the average price for exports to Chile ($4,455 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States (CIF) - 2022
The average import price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds stood at $4,687 per ton in 2022, increasing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. As a result, import price attained 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 the UK ($13,148 per ton), while the price for Belgium ($2,667 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States
In 2022, shipments abroad of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds decreased by -56.6% to 535 tons, falling for the second consecutive year after two years of growth. In general, exports faced a significant decrease. The growth pace was the most rapid in 2020 with an increase of 239% against the previous year. As a result, the exports attained the peak of 3.8K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds reduced remarkably to $2.9M in 2022. Overall, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 147% against the previous year. As a result, the exports reached the peak of $5.6M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 1,260 | 1,834 | 3,325 | 2,057 | 17.7% |
| Japan | 444 | 676 | 401 | 317 | -10.6% |
| Hong Kong SAR | 132 | 106 | 65.1 | 153 | 5.0% |
| Mexico | 54.6 | 132 | 7.4 | 125 | 31.8% |
| South Korea | 35.1 | N/A | 339 | 96.4 | 40.0% |
| China | 49.1 | 2,691 | 6.4 | N/A | -63.9% |
| Others | 288 | 157 | 104 | 159 | -18.0% |
| Total | 2,263 | 5,596 | 4,247 | 2,906 | 8.7% |
Top Export Markets for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified from the United States in 2022:
- Canada (431.1 tons)
- Mexico (30.3 tons)
- Japan (27.3 tons)
- South Korea (15.2 tons)
- Hong Kong SAR (9.0 tons)
Imports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States
In 2022, supplies from abroad of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds decreased by -18.7% to 386 tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +7.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 53%.
In value terms, imports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds dropped to $1.8M in 2022. The total import value increased at an average annual rate of +9.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 33%.
| Import of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 925 | 958 | 1,644 | 1,141 | 7.2% |
| United Kingdom | 270 | 450 | 147 | 319 | 5.7% |
| Belgium | 54.5 | 135 | 86.6 | 174 | 47.2% |
| China | 76.9 | 18.8 | 4.9 | 93.7 | 6.8% |
| Others | 54.7 | 274 | 63.2 | 78.8 | 12.9% |
| Total | 1,382 | 1,835 | 1,945 | 1,807 | 9.3% |
Top Suppliers of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified to the United States in 2022:
- Canada (262.6 tons)
- Belgium (65.3 tons)
- United Kingdom (24.3 tons)
- China (22.6 tons)
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