Latin America and the Caribbean: Tallow Market 2024

Tallow Market Size in Latin America and the Caribbean

The Latin American tallow market shrank to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Tallow Production in Latin America and the Caribbean

In value terms, tallow production expanded significantly to $X in 2022 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Tallow Exports

Exports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded growth in shipments abroad of tallow, which increased by X% to X tons in 2022. Overall, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, tallow exports skyrocketed to $X in 2022. In general, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the four major exporters of tallow, namely Argentina, Uruguay, Brazil and Paraguay, represented more than two-thirds of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Brazil (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest tallow supplying countries in Latin America and the Caribbean were Brazil ($X), Uruguay ($X) and Paraguay ($X), together accounting for X% of total exports.

Brazil, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the other leaders experienced more modest paces of growth.

Tallow Imports

Imports in Latin America and the Caribbean

In 2022, the amount of tallow imported in Latin America and the Caribbean fell rapidly to X tons, declining by X% against the previous year's figure. In general, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, tallow imports contracted dramatically to $X in 2022. Over the period under review, imports saw a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil represented the largest importer of tallow in Latin America and the Caribbean, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Uruguay (X tons) ranks second in terms of the total imports with a X% share, followed by Mexico (X%) and Honduras (X%). Venezuela (X tons), Chile (X tons), Argentina (X tons) and Colombia (X tons) held a minor share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Uruguay (X%), Argentina (X%) and Honduras (X%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Chile experienced a relatively flat trend pattern. By contrast, Venezuela (X%), Colombia (X%) and Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Uruguay, Honduras, Chile and Argentina increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported tallow in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Uruguay ($X), with a X% share of total imports. It was followed by Mexico, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Uruguay (X% per year) and Mexico (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tallow import price increased by X% against 2018 indices. The growth pace was the most rapid in 2021 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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