Argentina: Crude Palm Oil Market Overview 2021

Crude Palm Oil Market Size in Argentina

In 2020, after two years of growth, there was decline in the Argentinian crude palm oil market, when its value decreased by -X% to $X. Over the period under review, the total consumption indicated temperate growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2017 indices. The growth pace was the most rapid in 2018 when the market value increased by X% y-o-y. Over the period under review, the market reached the maximum level at $X in 2019, and then dropped modestly in the following year.

Crude Palm Oil Production in Argentina

In value terms, crude palm oil production stood at $X in 2020 estimated in export prices. Over the period under review, the total production indicated a tangible increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production decreased by -X% against 2016 indices. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. from 2017 to 2020, production growth remained at a somewhat lower figure.

Crude Palm Oil Exports

Exports from Argentina

In 2020, overseas shipments of crude palm oil were finally on the rise to reach X tonnes for the first time since 2017, thus ending a two-year declining trend. Overall, exports showed buoyant growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. As a result, exports attained the peak of X tonnes. from 2018 to 2020, the growth exports failed to regain the momentum.

In value terms, crude palm oil exports skyrocketed to $X in 2020. In general, exports posted strong growth. The pace of growth was the most pronounced in 2017 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. from 2018 to 2020, the growth exports remained at a lower figure.

Exports by Country

Malawi (X tonnes) was the main destination for crude palm oil exports from Argentina, with a X% share of total exports. Moreover, crude palm oil exports to Malawi exceeded the volume sent to the second major destination, Nepal (X tonnes), eightfold. Mozambique (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Malawi totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (-X% per year) and Mozambique (+X% per year).

In value terms, Malawi ($X) remains the key foreign market for crude palm oil exports from Argentina, comprising X% of total exports. The second position in the ranking was occupied by Mozambique ($X), with a X% share of total exports. It was followed by Nepal, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Malawi stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (+X% per year) and Nepal (-X% per year).

Export Prices by Country

The average crude palm oil export price stood at $X per tonne in 2020, increasing by X% against the previous year. Overall, the export price saw a noticeable expansion. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, export price attained the peak level of $X per tonne. from 2018 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Mozambique ($X per tonne), while the average price for exports to Nepal ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique, while the prices for the other major destinations experienced more modest paces of growth.

Crude Palm Oil Imports

Imports into Argentina

After two years of decline, overseas purchases of crude palm oil decreased by X% to X kg in 2020. Overall, imports saw a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at X tonnes in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, crude palm oil imports totaled $X in 2020. Over the period under review, imports faced a deep setback. Over the period under review, imports reached the peak figure at $X in 2007; however, from 2008 to 2020, imports remained at a lower figure.

Imports by Country

In 2017, the U.S. (X tonnes) was the main crude palm oil supplier to Argentina, accounting for a approx. X% share of total imports.

From 2007 to 2017, the average annual growth rate of volume from the U.S. was relatively modest.

In value terms, the U.S. ($X) constituted the largest supplier of crude palm oil to Argentina.

From 2007 to 2017, the average annual rate of growth in terms of value from the U.S. was relatively modest.

Import Prices by Country

In 2017, the average crude palm oil import price amounted to $X per tonne, waning by -X% against the previous year. Overall, the import price continues to indicate a deep slump. Over the period under review, average import prices reached the peak figure at $X per tonne in 2015; however, from 2016 to 2017, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the U.S..

From 2007 to 2017, the rate of growth in terms of prices for the U.S. amounted to X% per year.

Source: IndexBox Platform