Chile: Animal Fats Market 2024

Animal Fats Market Size in Chile

In 2023, the Chilean animal fats market decreased by X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, continues to indicate buoyant growth. Animal fats consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Animal Fats Production in Chile

In value terms, animal fats production expanded notably to $X in 2023 estimated in export price. Over the period under review, production showed a resilient increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Animal fats production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

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Animal Fats Exports

Exports from Chile

In 2023, after two years of decline, there was significant growth in shipments abroad of animal fats and oils, when their volume increased by X% to X tons. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in the near future.

In value terms, animal fats exports expanded significantly to $X in 2023. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked in 2023 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for animal fats exports from Chile, with a X% share of total exports. Moreover, animal fats exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), threefold. Japan (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Japan (X% per year).

In value terms, the United States ($X) remains the key foreign market for animal fats and oils exports from Chile, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Japan (X% per year).

Export Prices by Country

In 2023, the average animal fats export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Fats Imports

Imports into Chile

In 2023, approx. X tons of animal fats and oils were imported into Chile; which is down by X% on 2022. Overall, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, animal fats imports declined dramatically to $X in 2023. Over the period under review, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2022, and then declined markedly in the following year.

Imports by Country

In 2023, Argentina (X tons) constituted the largest supplier of animal fats to Chile, with a X% share of total imports. Moreover, animal fats imports from Argentina exceeded the figures recorded by the second-largest supplier, Colombia (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Argentina amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and the United States (X% per year).

In value terms, the largest animal fats suppliers to Chile were Argentina ($X), Colombia ($X) and the United States ($X), together accounting for X% of total imports.

Among the main suppliers, Colombia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average animal fats import price stood at $X per ton in 2023, increasing by X% against the previous year. In general, the import price, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform