Colombia: Linseed Oil Market Overview 2021

Linseed Oil Market Size in Colombia

In 2019, after four years of decline, there was significant growth in the Colombian linseed oil market, when its value increased by X% to $X. In general, consumption, however, recorded a slight setback. The most prominent rate of growth was recorded in 2011 when the market value increased by X% year-to-year. As a result, consumption attained the peak level of $X. From 2012 to 2019, the growth of the market remained at a somewhat lower figure.

Linseed Oil Exports

Exports from Colombia

In 2019, shipments abroad of linseed oil decreased by -X% to X kg for the first time since 2016, thus ending a two-year rising trend. In general, exports showed a deep downturn. The growth pace was the most rapid in 2013 when exports increased by X% y-o-y. Over the period under review, exports hit record highs at X tonnes in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

In value terms, linseed oil exports contracted markedly to $X in 2019. Over the period under review, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Exports peaked at $X in 2008; however, from 2009 to 2019, exports failed to regain the momentum.

Exports by Country

Ecuador (X kg) was the main destination for linseed oil exports from Colombia, accounting for a X% share of total exports. It was followed by Peru (X kg), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to Ecuador stood at -X%.

In value terms, Ecuador ($X) remains the key foreign market for linseed oil exports from Colombia, comprising X% of total exports. The second position in the ranking was occupied by Peru ($X), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of value to Ecuador totaled +X%.

Export Prices by Country

The average linseed oil export price stood at $X per tonne in 2019, shrinking by -X% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2011 when the average export price increased by X% year-to-year. Over the period under review, average export prices attained the peak figure at $X per tonne in 2018, and then contracted in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Ecuador ($X per tonne), while the average price for exports to Peru totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador.

Linseed Oil Imports

Imports into Colombia

In 2019, purchases abroad of linseed oil was finally on the rise to reach X tonnes after four years of decline. Overall, imports, however, continue to indicate a pronounced decrease. The pace of growth was the most pronounced in 2011 when imports increased by X% y-o-y. As a result, imports reached the peak of X tonnes. From 2012 to 2019, the growth imports remained at a somewhat lower figure.

In value terms, linseed oil imports skyrocketed to $X in 2019. Over the period under review, imports, however, saw a slight reduction. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Belgium (X tonnes) constituted the largest supplier of linseed oil to Colombia, with a X% share of total imports. Moreover, linseed oil imports from Belgium exceeded the figures recorded by the second-largest supplier, the U.S. (X tonnes), twofold.

From 2007 to 2019, the average annual rate of growth in terms of volume from Belgium totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Germany (-X% per year).

In value terms, Belgium ($X), the U.S. ($X) and Germany ($X) appeared to be the largest linseed oil suppliers to Colombia, with a combined X% share of total imports.

In terms of the main suppliers, the U.S. saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2019, the average linseed oil import price amounted to $X per tonne, waning by -X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by X% y-o-y. As a result, import price attained the peak level of $X per tonne. From 2014 to 2019, the growth in terms of the average import prices failed to regain the momentum.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., 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 linseed oil in the world?

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The country with the largest volume of linseed oil consumption was China (287K tonnes), comprising approx. 32% of total volume. Moreover, linseed oil consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (75K tonnes), fourfold. The third position in this ranking was occupied by Gambia (67K tonnes), with a 7.4% share.

What are the largest producers of linseed oil in the world?

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China (247K tonnes) remains the largest linseed oil producing country worldwide, comprising approx. 31% of total volume. Moreover, linseed oil production in China exceeded the figures recorded by the second-largest producer, Belgium (121K tonnes), twofold. The third position in this ranking was occupied by the U.S. (78K tonnes), with a 9.9% share.

What are the leading suppliers of linseed oil to Colombia?

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In value terms, the largest linseed oil suppliers to Colombia were Belgium ($222K), the U.S. ($140K) and Germany ($45K), together comprising 100% of total imports.

What are the leading importers of linseed oil from Colombia?

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In value terms, Ecuador ($3.5K) remains the key foreign market for linseed oil exports from Colombia, comprising 99% of total exports. The second position in the ranking was occupied by Peru ($43), with a 1.2% share of total exports.

What is the average export price for linseed oil in Colombia?

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In 2019, the average linseed oil export price amounted to $5,887 per tonne, which is down by -11.8% against the previous year.

What is the average import price for linseed oil in Colombia?

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In 2019, the average linseed oil import price amounted to $1,174 per tonne, waning by -2.5% against the previous year.