U.S.: Oleo Oils Market Overview 2021

Oleo Oils Market Size in the U.S.

After three years of growth, the U.S. oleo oils market decreased by -X% to $X in 2019. Overall, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the market value increased by X% y-o-y. As a result, consumption attained the peak level of $X. From 2012 to 2019, the growth of the market remained at a somewhat lower figure.

Oleo Oils Production in the U.S.

In value terms, oleo oils production declined slightly to $X in 2019. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2012 to 2019, production growth failed to regain the momentum.

Oleo Oils Exports

Exports from the U.S.

In 2019, the amount of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil exported from the U.S. skyrocketed to X tonnes, growing by X% compared with the previous year's figure. In general, exports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2010 when exports increased by X% y-o-y. As a result, exports reached the peak of X tonnes. From 2011 to 2019, the growth exports remained at a somewhat lower figure.

In value terms, oleo oils exports soared to $X in 2019. Over the period under review, exports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2010 when exports increased by X% y-o-y. Over the period under review, exports hit record highs at $X in 2011; however, from 2012 to 2019, exports remained at a lower figure.

Exports by Country

Nigeria (X tonnes) was the main destination for oleo oils exports from the U.S., accounting for a X% share of total exports. Moreover, oleo oils exports to Nigeria exceeded the volume sent to the second major destination, Mexico (X tonnes), twofold. Honduras (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Nigeria totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and Honduras (-X% per year).

In value terms, the largest markets for oleo oils exported from the U.S. were Nigeria ($X), Mexico ($X) and Honduras ($X), with a combined X% share of total exports.

Mexico recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2019, the average oleo oils export price amounted to $X per tonne, waning by -X% against the previous year. Over the period under review, the export price saw a perceptible setback. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. As a result, export price attained the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average export prices failed to regain the momentum.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was Aruba ($X per tonne), while the average price for exports to Nigeria ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to South Korea, while the prices for the other major destinations experienced a decline.

Oleo Oils Imports

Imports into the U.S.

Oleo oils imports into the U.S. contracted sharply to X tonnes in 2019, which is down by -X% against the previous year's figure. Over the period under review, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. Over the period under review, imports reached the maximum at X tonnes in 2014; however, from 2015 to 2019, imports remained at a lower figure.

In value terms, oleo oils imports dropped markedly to $X in 2019. Overall, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Canada (X tonnes) was the main supplier of oleo oils to the U.S., with a approx. X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of volume from Canada amounted to -X%.

In value terms, Canada ($X) constituted the largest supplier of oleo oils to the U.S..

From 2007 to 2019, the average annual rate of growth in terms of value from Canada totaled -X%.

Import Prices by Country

The average oleo oils import price stood at $X per tonne in 2019, picking up by X% against the previous year. Over the period under review, the import price recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 an increase of X% y-o-y. As a result, import price attained the peak level of $X per tonne. From 2018 to 2019, the growth in terms of the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Canada.

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

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in the world?

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The countries with the highest volumes of oleo oils consumption in 2019 were China (5.6M tonnes), the U.S. (2.8M tonnes) and India (2.3M tonnes), with a combined 27% share of global consumption. These countries were followed by Japan, Germany, Russia, Pakistan, Brazil, Bangladesh, Indonesia, France, Mexico and Nigeria, which together accounted for a further 30%.

What are the largest producers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in the world?

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The countries with the highest volumes of oleo oils production in 2019 were China (5.6M tonnes), the U.S. (2.8M tonnes) and India (2.3M tonnes), together accounting for 28% of global production. These countries were followed by Japan, Germany, Russia, Pakistan, Brazil, Bangladesh, Indonesia, France, Mexico and Nigeria, which together accounted for a further 30%.

What are the leading suppliers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil to the U.S.?

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In value terms, Canada ($6.8K) constituted the largest supplier of oleo oils to the U.S..

What are the leading importers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil from the U.S.?

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In value terms, Nigeria ($1.9M), Mexico ($957K) and Honduras ($796K) constituted the largest markets for oleo oils exported from the U.S. worldwide, with a combined 81% share of total exports.

What is the average export price for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in the U.S.?

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The average oleo oils export price stood at $715 per tonne in 2019, with a decrease of -10.5% against the previous year.

What is the average import price for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in the U.S.?

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In 2019, the average oleo oils import price amounted to $2,522 per tonne, growing by 9% against the previous year.