MERCOSUR: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in MERCOSUR

In 2022, the MERCOSUR refined soybean oil market increased by X% to $X, rising for the third year in a row after three years of decline. The total consumption indicated modest growth 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, consumption increased by X% against 2019 indices. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Refined Soybean Oil Production in MERCOSUR

In value terms, refined soybean oil production rose modestly to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced setback. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Soybean Oil Exports

Exports in MERCOSUR

In 2022, overseas shipments of refined soybean oil and its fractions increased by X% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports saw resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, refined soybean oil exports surged to $X in 2022. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Argentina (X tons) and Brazil (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Colombia (X tons), constituting a X% share of total exports.

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

In value terms, Brazil ($X), Argentina ($X) and Colombia ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Colombia, 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

In 2022, the export price in MERCOSUR amounted to $X per ton, growing by X% against the previous year. Export price indicated a noticeable increase 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 soybean oil export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably 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 Brazil (X%), while the other leaders experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports in MERCOSUR

In 2022, supplies from abroad of refined soybean oil and its fractions increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, refined soybean oil imports surged to $X in 2022. Over the period under review, imports saw prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Chile (X tons), Venezuela (X tons) and Peru (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Colombia (X tons), comprising an X% share of total imports.

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

In value terms, the largest refined soybean oil importing markets in MERCOSUR were Chile ($X), Venezuela ($X) and Peru ($X), together accounting for X% of total imports.

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

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, increasing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Chile ($X per ton) and Peru ($X per ton), while Venezuela ($X per ton) and Colombia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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