Chile: Crude Palm Oil Market Overview 2021

Crude Palm Oil Market Size in Chile

The Chilean crude palm oil market reduced notably to $X in 2019, falling by -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). Over the period under review, consumption, however, showed a modest increase. The pace of growth was the most pronounced in 2014 when the market value increased by X% y-o-y. As a result, consumption attained the peak level of $X. From 2015 to 2019, the growth of the market remained at a somewhat lower figure.

Crude Palm Oil Exports

Exports from Chile

In 2019, the amount of crude palm oil exported from Chile was estimated at X kg, approximately reflecting 2018. Overall, exports saw a dramatic setback. Over the period under review, exports reached the peak figure at X kg in 2013; however, from 2014 to 2019, exports stood at a somewhat lower figure.

In value terms, crude palm oil exports stood at $X in 2019. In general, exports enjoyed a strong increase. Exports peaked at $X in 2015; however, from 2016 to 2019, exports stood at a somewhat lower figure.

Exports by Country

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

From 2007 to 2015, the average annual rate of growth in terms of volume to the Netherlands was relatively modest.

From 2007 to 2015, the average annual growth rate of value to the Netherlands was relatively modest.

Export Prices by Country

The average crude palm oil export price stood at $X per tonne in 2015, remaining constant against the previous year. In general, the export price enjoyed a significant expansion. Over the period under review, average export prices attained the maximum in 2015 and is expected to retain growth in years to come.

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

From 2007 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

In 2019, imports of crude palm oil into Chile contracted markedly to X tonnes, shrinking by -X% on 2018. Over the period under review, imports, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. As a result, imports attained the peak of X tonnes. From 2015 to 2019, the growth imports failed to regain the momentum.

In value terms, crude palm oil imports fell dramatically to $X in 2019. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Colombia (X tonnes) was the main 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, Malaysia (X tonnes), more than tenfold.

From 2007 to 2019, the average annual growth rate of volume from Colombia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and Peru (-X% per year).

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

From 2007 to 2019, the average annual growth rate of value from Colombia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and Peru (-X% per year).

Import Prices by Country

The average crude palm oil import price stood at $X per tonne in 2019, declining by -X% against the previous year. Overall, the import price recorded a noticeable decrease. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% year-to-year. Over the period under review, average import prices attained the maximum at $X per tonne in 2014; however, from 2015 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Malaysia ($X per tonne), while the price for Colombia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Peru, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude palm oil in the world?

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Indonesia (36M tonnes) constituted the country with the largest volume of crude palm oil consumption, accounting for 46% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia (17M tonnes), twofold. India (6.6M tonnes) ranked third in terms of total consumption with a 8.5% share.

What are the largest producers of crude palm oil in the world?

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Indonesia (44M tonnes) constituted the country with the largest volume of crude palm oil production, accounting for 58% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (20M tonnes), twofold. Thailand (3M tonnes) ranked third in terms of total production with a 4% share.

What are the leading suppliers of crude palm oil to Chile?

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In value terms, Colombia ($2.5M) constituted the largest supplier of crude palm oil to Chile, comprising 85% of total imports. The second position in the ranking was occupied by Malaysia ($285K), with a 9.7% share of total imports.

What is the average export price for crude palm oil in Chile?

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The average crude palm oil export price stood at $716 per tonne in 2015, almost unchanged from the previous year.

What is the average import price for crude palm oil in Chile?

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In 2019, the average crude palm oil import price amounted to $607 per tonne, shrinking by -21% against the previous year.