Latin America and the Caribbean: Castor Oil Seed Market 2020

Castor Oil Seed Market Size in Latin America and the Caribbean

The revenue of the castor oil seed market in Latin America and the Caribbean amounted to $X in 2017, falling by -X% against the previous year. The total market indicated a prominent increase from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed consumption increased by +X% against 2014 indices. The most prominent rate of growth was recorded in 2012, when it surged by X% y-o-y. In that year, the castor oil seed market reached their peak level of $X. From 2013 to 2017, growth of the castor oil seed market failed to regain its momentum.

Castor Oil Seed Production in Latin America and the Caribbean

In 2017, approx. X tons of castor oil seed were produced in Latin America and the Caribbean; flattening at the previous year. The total output volume increased an average annual rate of +X% over the period from 2007 to 2017; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013, with an increase of X% y-o-y. Over the period under review, the castor oil seed production reached its maximum volume in 2017, and is likely to continue its growth in the immediate term. The general positive trend in terms of castor oil seed output was largely conditioned by a modest expansion of the harvested area and an outstanding increase in yield figures.

The country with the largest volume of castor oil seed production was Paraguay (X tons), comprising approx. X% of total production. Moreover, castor oil seed production in Paraguay exceeded the figures recorded by the world's second largest producer, Ecuador (X tons), threefold.

In Paraguay, castor oil seed production increased at an average annual rate of +X% over the period from 2007-2017.

In 2017, average castor oil seed yield in Latin America and the Caribbean amounted to X kg per X has, rising by X% against the previous year. The castor oil seed yield continues to indicate an outstanding increase. The pace of growth was the most pronounced in 2012, when it surged by X% y-o-y. Over the period under review, the castor oil seed yield attained its maximum level in 2017, and is likely to continue its growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The castor oil seed harvested area totaled X ha in 2017, waning by -X% against the previous year. The castor oil seed harvested area continues to indicate an abrupt contraction. The most prominent rate of growth was recorded in 2011, when harvested area increased by X% year-to-year. In that year, the castor oil seed harvested area reached their peak figure of X ha. From 2012 to 2017, growth of the castor oil seed harvested area failed to regain its momentum.

Castor Oil Seed Exports

Exports in Latin America and the Caribbean

The exports amounted to X tons in 2017, increasing by X% against the previous year. The total export volume increased an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2009, with an increase of X% against the previous year. Over the period under review, the castor oil seed exports attained its peak figure volume of X tons in 2011; however, from 2012 to 2017, it stood at a somewhat lower level.

In value terms, castor oil seed exports totaled $X in 2017. The total exports indicated a pronounced expansion from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed exports decreased by -X% against 2014 indices. In that year, the castor oil seed exports reached their peak level of $X. From 2012 to 2017, growth of the castor oil seed exports failed to regain its momentum.

Exports by Country

Brazil was the largest exporter of castor oil seed in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2017. It was distantly followed by Mexico (X tons), committing X% share of total exports. Ecuador (X tons) and Colombia (X tons) followed a long way behind the leaders.

Exports from Brazil increased at an average annual rate of +X% from 2007 to 2017. At the same time, Mexico (+X%) and Colombia (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest growing exporter in Latin America and the Caribbean, with a CAGR of +X% from 2007-2017. By contrast, Ecuador (-X%) illustrated a downward trend over the same period. Ecuador (X%) significantly strengthened its position in terms of the global exports, while Mexico and Brazil saw its share reduced by -X% and -X% from 2007 to 2017, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest castor oil seed supplier in Latin America and the Caribbean, making up X% of global exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of global exports. It was followed by Ecuador, with a X% share.

In Brazil, castor oil seed exports increased at an average annual rate of +X% over the period from 2007-2017. In the other countries, the average annual rates were as follows: Mexico (+X% per year) and Ecuador (-X% per year).

Export Prices by Country

The castor oil seed export price in Latin America and the Caribbean stood at $X per ton in 2017, approximately equating the previous year. The castor oil seed export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011, an increase of X% year-to-year. In that year, the export prices for castor oil seed reached their peak level of $X per ton. From 2012 to 2017, growth of the export prices for castor oil seed stood at a somewhat lower level.

Export prices varied noticeably by the country of destination; the country with the highest export price was Mexico ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Ecuador (+X% per year), while the other leaders experienced a decline in the export price figures.

Castor Oil Seed Imports

Imports in Latin America and the Caribbean

In 2017, imports of castor oil seed in Latin America and the Caribbean stood at X tons, therefore, remained relatively stable against the previous year. The total imports indicated a noticeable growth from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed imports increased by +X% against 2014 indices. The pace of growth was the most pronounced in 2012, when it surged by X% against the previous year. Over the period under review, the castor oil seed imports attained its maximum volume of X tons in 2010; however, from 2011 to 2017, it stood at a somewhat lower level.

In value terms, castor oil seed imports amounted to $X in 2017. The total imports indicated a remarkable growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Over the period under review, the castor oil seed imports attained its maximum level of $X in 2012; however, from 2013 to 2017, it stood at a somewhat lower level.

Imports by Country

Mexico (X tons) and Brazil (X tons) represented the major importers of castor oil seed in 2017, accounting for near X% and X% of total imports, respectively. Colombia (X tons) held a X% share (based on tons) of total imports, which put it in second place, followed by Argentina (X%). Peru (X tons) held the slight share of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Colombia (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Colombia ($X) constituted the countries with the highest levels of imports in 2017, together accounting for X% of total imports.

Among the main importing countries, Colombia (+X% per year) recorded the highest growth rate of imports, over the last decade, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The castor oil seed import price in Latin America and the Caribbean stood at $X per ton in 2017, rising by X% against the previous year. The import price indicated a slight increase from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed import price decreased by -X% against 2014 indices. The growth pace was the most rapid in 2011, when the import prices increased by X% y-o-y. In that year, the import prices for castor oil seed reached their peak level of $X per ton. From 2012 to 2017, growth of the import prices for castor oil seed stood at a somewhat lower level.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Peru ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Mexico (+X% per year), while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform