Peru: Crude Soybean Oil Market Overview 2021

Crude Soybean Oil Market Size in Peru

In 2019, the Peruvian crude soybean oil market increased by X% to $X, rising for the third year in a row after four years of decline. Over the period under review, the total consumption indicated a moderate expansion from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2010 when the market value increased by X% y-o-y. Over the period under review, the market hit record highs in 2019 and is expected to retain growth in years to come.

Crude Soybean Oil Exports

Exports from Peru

In 2019, overseas shipments of crude soybean oil increased by X% to X tonnes, rising for the fourth consecutive year after two years of decline. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2012 when exports increased by X% against the previous year. Over the period under review, exports hit record highs at X tonnes in 2013; however, from 2014 to 2019, exports failed to regain the momentum.

In value terms, crude soybean oil exports contracted to $X in 2019. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2012 when exports increased by X% against the previous year. Exports peaked at $X in 2013; however, from 2014 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tonnes) was the main destination for crude soybean oil exports from Peru, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to Colombia stood at +X%.

In value terms, Colombia ($X) also remains the key foreign market for crude soybean oil exports from Peru.

From 2007 to 2019, the average annual growth rate of value to Colombia totaled +X%.

Export Prices by Country

In 2019, the average crude soybean oil export price amounted to $X per tonne, waning by -X% against the previous year. In general, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2013 when the average export price decreased by -X% against the previous year. The export price peaked at $X per tonne in 2007; however, from 2008 to 2019, export prices failed to regain the momentum.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2007 to 2019, the rate of growth in terms of prices for Colombia amounted to -X% per year.

Crude Soybean Oil Imports

Imports into Peru

For the third year in a row, Peru recorded growth in purchases abroad of crude soybean oil, which increased by X% to X tonnes in 2019. Overall, total imports indicated a measured expansion from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2010 indices. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Imports peaked in 2019 and are expected to retain growth in the immediate term.

In value terms, crude soybean oil imports dropped slightly to $X in 2019. In general, total imports indicated a temperate increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2008 when imports increased by X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Argentina (X tonnes) constituted the largest crude soybean oil supplier to Peru, accounting for a X% share of total imports. Moreover, crude soybean oil imports from Argentina exceeded the figures recorded by the second-largest supplier, Paraguay (X tonnes), more than tenfold. Bolivia (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Argentina amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Paraguay (+X% per year) and Bolivia (+X% per year).

In value terms, Argentina ($X) constituted the largest supplier of crude soybean oil to Peru, comprising X% of total imports. The second position in the ranking was occupied by Paraguay ($X), with a X% share of total imports. It was followed by Bolivia, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Argentina amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Paraguay (+X% per year) and Bolivia (+X% per year).

Import Prices by Country

In 2019, the average crude soybean oil import price amounted to $X per tonne, reducing by -X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2011; however, from 2012 to 2019, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the countries with the highest prices were Bolivia ($X per tonne) and Argentina ($X per tonne), while the price for the U.S. ($X per tonne) and Paraguay ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Paraguay, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude soybean oil in the world?

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The countries with the highest volumes of crude soybean oil consumption in 2019 were China (4.4M tonnes), India (3.1M tonnes) and the U.S. (1.8M tonnes), with a combined 31% share of global consumption. These countries were followed by Japan, Russia, Algeria, Indonesia, Brazil, Bangladesh, Pakistan, Mexico, Morocco and Germany, which together accounted for a further 24%.

What are the largest producers of crude soybean oil in the world?

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The countries with the highest volumes of crude soybean oil production in 2019 were Argentina (5.1M tonnes), China (3.8M tonnes) and the U.S. (2.6M tonnes), together accounting for 38% of global production.

What are the leading suppliers of crude soybean oil to Peru?

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In value terms, Argentina ($307M) constituted the largest supplier of crude soybean oil to Peru, comprising 88% of total imports. The second position in the ranking was occupied by Paraguay ($17M), with a 4.9% share of total imports. It was followed by Bolivia, with a 3.4% share.

What are the leading importers of crude soybean oil from Peru?

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In value terms, Colombia ($130K) remains the key foreign market for crude soybean oil exports from Peru.

What is the average export price for crude soybean oil in Peru?

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The average crude soybean oil export price stood at $650 per tonne in 2019, falling by -8.5% against the previous year.

What is the average import price for crude soybean oil in Peru?

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In 2019, the average crude soybean oil import price amounted to $698 per tonne, declining by -9.7% against the previous year.