MERCOSUR: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in MERCOSUR

The MERCOSUR refined palm oil market contracted to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then shrank slightly in the following year.

Refined Palm Oil Production in MERCOSUR

In value terms, refined palm oil production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Refined Palm Oil Exports

Exports in MERCOSUR

In 2022, shipments abroad of refined palm oil increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed a noticeable expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, refined palm oil exports soared to $X in 2022. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Colombia (X tons) and Ecuador (X tons) represented roughly X% of total exports in 2022. Peru (X tons) ranks next in terms of the total exports with an X% share, followed by Brazil (X%).

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest refined palm oil supplying countries in MERCOSUR were Colombia ($X), Ecuador ($X) and Peru ($X), with a combined X% share of total exports.

Peru, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The export price in MERCOSUR stood at $X per ton in 2022, with an increase of X% against the previous year. Export price indicated a moderate expansion 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, refined palm oil export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Brazil ($X per ton) and Colombia ($X per ton), while Peru ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

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

Refined Palm Oil Imports

Imports in MERCOSUR

In 2022, purchases abroad of refined palm oil decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Total imports indicated moderate growth from 2012 to 2022: its volume 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, imports increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, refined palm oil imports rose sharply to $X in 2022. Overall, imports, however, posted resilient growth. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Brazil (X tons) was the key importer of refined palm oil, constituting X% of total imports. It was distantly followed by Colombia (X tons), Uruguay (X tons) and Chile (X tons), together achieving a X% share of total imports. Venezuela (X tons), Ecuador (X tons) and Peru (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ecuador (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Colombia ($X) and Uruguay ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Chile, Ecuador, Venezuela and Peru lagged somewhat behind, together comprising a further X%.

Ecuador, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated pronounced 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, refined palm oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uruguay ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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