Ecuador: Animal Fats Market 2022

Animal Fats Market Size in Ecuador

The Ecuadorian animal fats market reduced to $X in 2021, declining by -X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Animal Fats Production in Ecuador

In value terms, animal fats production shrank remarkably to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Animal Fats Exports

Exports from Ecuador

In 2021, approx. less than X kg of animal fats and oils were exported from Ecuador; with a decrease of -X% on 2020 figures. In general, exports, however, showed significant growth. Over the period under review, the exports hit record highs at X kg in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, animal fats exports declined notably to less than $X in 2021. Overall, exports, however, continue to indicate significant growth. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X kg) was the main destination for animal fats exports from Ecuador, accounting for a approx. X% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to China amounted to -X%.

In value terms, China ($X) also remains the key foreign market for animal fats exports from Ecuador.

From 2012 to 2020, the average annual growth rate of value to China amounted to -X%.

Export Prices by Country

In 2020, the average animal fats export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, continues to indicate a abrupt shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, the export prices remained at a lower figure.

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

From 2012 to 2020, the rate of growth in terms of prices for China amounted to +X% per year.

Animal Fats Imports

Imports into Ecuador

In 2021, animal fats imports into Ecuador skyrocketed to X tons, increasing by X% on 2020. Over the period under review, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, animal fats imports surged to $X in 2021. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Colombia (X tons), Norway (X tons) and the United States (X tons) were the main suppliers of animal fats imports to Ecuador.

From 2012 to 2021, the biggest increases were in Norway (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest animal fats suppliers to Ecuador were Colombia ($X), Norway ($X) and the United States ($X, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 animal fats import price stood at $X per ton in 2021, picking up by X% against the previous year. Overall, the import price recorded a strong expansion. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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