Chile: Crude Palm Oil Market 2022

Crude Palm Oil Market Size in Chile

The Chilean crude palm oil market rose notably to $X in 2021, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Crude Palm Oil Exports

Exports from Chile

In 2021, approx. less than X kg of crude palm oil were exported from Chile; leveling off at the year before. In general, exports recorded a sharp descent. As a result, the exports attained the peak of X kg. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, crude palm oil exports stood at less than $X in 2021. Over the period under review, exports recorded a prominent expansion. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X kg) was the main destination for crude palm oil exports from Chile, accounting for a approx. X% share of total exports.

From 2012 to 2015, the average annual growth rate of volume to the Netherlands was relatively modest.

From 2012 to 2015, the average annual rate of growth in terms of value to the Netherlands was relatively modest.

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2015, therefore, remained relatively stable against the previous year. In general, the export price enjoyed a significant increase. The export price peaked in 2015 and is likely to see gradual growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2012 to 2015, the rate of growth in terms of prices for the Netherlands amounted to X% per year.

Crude Palm Oil Imports

Imports into Chile

Crude palm oil imports into Chile declined remarkably to X tons in 2021, waning by -X% compared with the year before. Over the period under review, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, crude palm oil imports surged to $X in 2021. Overall, imports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Colombia (X tons) constituted the largest crude palm oil supplier to Chile, accounting for a X% share of total imports. Moreover, crude palm oil imports from Colombia exceeded the figures recorded by the second-largest supplier, Peru (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Colombia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+X% per year) and Guatemala (+X% per year).

In value terms, Colombia ($X) constituted the largest supplier of crude palm oil to Chile, comprising X% of total imports. The second position in the ranking was held by Peru ($X), with a X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Colombia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+X% per year) and Guatemala (+X% per year).

Import Prices by Country

In 2021, the average crude palm oil import price amounted to $X per ton, growing by X% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crude palm oil import price increased by +X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Peru ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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