Ecuador: Wool Grease Market Overview 2021

Wool Grease Market Size in Ecuador

In 2019, the Ecuadorian wool grease market increased by X% to $X, rising for the second year in a row after six years of decline. Overall, consumption showed a deep contraction. The pace of growth appeared the most rapid in 2010 when the market value increased by X% against the previous year. Wool grease consumption peaked at $X in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.

Wool Grease Production in Ecuador

In value terms, wool grease production surged to $X in 2019 estimated in export prices. In general, production showed a abrupt setback. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2007; however, from 2008 to 2019, production failed to regain the momentum.

The average yield of wool grease in Ecuador stood at X kg per head in 2019, approximately reflecting 2018 figures. Overall, the yield recorded a relatively flat trend pattern.

In 2019, number of animals slaughtered for wool grease production in Ecuador totaled X head, remaining stable against the previous year's figure. Overall, the number of producing animals saw a relatively flat trend pattern.

Wool Grease Exports

Exports from Ecuador

In 2019, shipments abroad of wool grease decreased by -X% to X tonnes, falling for the second consecutive year after seven years of growth. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. As a result, exports reached the peak of X tonnes. From 2018 to 2019, the growth exports failed to regain the momentum.

In value terms, wool grease exports reduced to $X in 2019. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. As a result, exports reached the peak of $X. From 2018 to 2019, the growth exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tonnes) was the main destination for wool grease exports from Ecuador, with a X% share of total exports. Moreover, wool grease exports to Hong Kong SAR exceeded the volume sent to the second major destination, Uruguay (X tonnes), fourfold.

From 2007 to 2019, the average annual growth rate of volume to Hong Kong SAR totaled -X%.

In value terms, Hong Kong SAR ($X) and Uruguay ($X) were the largest markets for wool grease exported from Ecuador worldwide.

In terms of the main countries of destination, Uruguay saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2019, the average wool grease export price amounted to $X per tonne, growing by X% against the previous year. In general, the export price, however, recorded a deep setback. Over the period under review, average export prices attained the peak figure at $X per tonne in 2008; however, from 2009 to 2019, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Uruguay ($X per tonne), while the average price for exports to Hong Kong SAR stood at $X per tonne.

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

Wool Grease Imports

Imports into Ecuador

In 2019, imports of wool grease into Ecuador amounted to X kg, almost unchanged from the year before. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2012 when imports increased by X% year-to-year. Over the period under review, imports reached the peak figure at X tonnes in 2015; however, from 2016 to 2019, imports remained at a lower figure.

In value terms, wool grease imports stood at $X in 2019. In general, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. Imports peaked at $X in 2009; however, from 2010 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2015, Peru (X tonnes) was the main supplier of wool grease to Ecuador, with a approx. X% share of total imports.

From 2007 to 2015, the average annual rate of growth in terms of volume from Peru totaled +X%.

In value terms, Peru ($X) constituted the largest supplier of wool grease to Ecuador.

From 2007 to 2015, the average annual growth rate of value from Peru amounted to -X%.

Import Prices by Country

The average wool grease import price stood at $X per tonne in 2015, falling by -X% against the previous year. Over the period under review, the import price saw a sharp descent. The pace of growth was the most pronounced in 2011 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per tonne. From 2012 to 2015, the growth in terms of the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Peru.

From 2007 to 2015, the rate of growth in terms of prices for Peru amounted to -X% per year.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wool grease in the world?

+

The countries with the highest volumes of wool grease consumption in 2019 were Australia (803K tonnes), China (688K tonnes) and South Africa (208K tonnes), with a combined 58% share of global consumption.

What are the largest producers of wool grease in the world?

+

Australia (1.2M tonnes) remains the largest wool grease producing country worldwide, comprising approx. 36% of total volume. Moreover, wool grease production in Australia exceeded the figures recorded by the second-largest producer, South Africa (572K tonnes), twofold. China (422K tonnes) ranked third in terms of total production with a 12% share.

What are the leading suppliers of wool grease to Ecuador?

+

In value terms, Peru ($18K) constituted the largest supplier of wool grease to Ecuador.

What are the leading importers of wool grease from Ecuador?

+

In value terms, Hong Kong SAR ($28K) and Uruguay ($19K) were the largest markets for wool grease exported from Ecuador worldwide.

What is the average export price for wool grease in Ecuador?

+

In 2019, the average wool grease export price amounted to $1,884 per tonne, increasing by 22% against the previous year.

What is the average import price for wool grease in Ecuador?

+

The average wool grease import price stood at $772 per tonne in 2015, waning by -16.9% against the previous year.