Brazil: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in Brazil

The Brazilian refined rapeseed oil market reached $X in 2022, approximately reflecting the previous year. In general, consumption, however, continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2020 when the market value increased by X% against the previous year. Refined rapeseed oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Rapeseed Oil Production in Brazil

In value terms, refined rapeseed oil production reached $X in 2022 estimated in export price. Overall, production, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Refined rapeseed oil production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Refined Rapeseed Oil Exports

Exports from Brazil

For the third year in a row, Brazil recorded growth in overseas shipments of refined rape, colza or mustard oil, which increased by X% to X tons in 2022. Over the period under review, exports recorded moderate growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, refined rapeseed oil exports surged to $X in 2022. Overall, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Argentina (X tons) was the main destination for refined rapeseed oil exports from Brazil, accounting for a X% share of total exports. Moreover, refined rapeseed oil exports to Argentina exceeded the volume sent to the second major destination, India (X tons), more than tenfold. Guatemala (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Guatemala (X% per year).

In value terms, Argentina ($X) remains the key foreign market for refined rape, colza or mustard oil exports from Brazil, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Argentina totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Guatemala (X% per year).

Export Prices by Country

In 2022, the average refined rapeseed oil export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, saw a mild downturn. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Trinidad and Tobago ($X per ton) and Uruguay ($X per ton), while the average price for exports to Peru ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into Brazil

In 2022, purchases abroad of refined rape, colza or mustard oil decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped sharply in the following year.

In value terms, refined rapeseed oil imports dropped markedly to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined remarkably in the following year.

Imports by Country

Belgium (X tons), Australia (X tons) and Uruguay (X tons) were the main suppliers of refined rapeseed oil imports to Brazil, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined rapeseed oil suppliers to Brazil were Belgium ($X), Australia ($X) and the United States ($X), together accounting for X% of total imports.

Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined rapeseed oil import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price saw a notable expansion. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 United States ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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