Uruguay: Animal Fats Market 2022

Animal Fats Market Size in Uruguay

After five years of growth, the Uruguayan animal fats market decreased by -X% to $X in 2021. Over the period under review, consumption, however, continues to indicate a buoyant increase. As a result, consumption attained the peak level of $X, and then shrank remarkably in the following year.

Animal Fats Production in Uruguay

In value terms, animal fats production dropped notably to $X in 2021 estimated in export price. In general, production, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X, and then reduced sharply in the following year.

Animal Fats Exports

Exports from Uruguay

In 2021, approx. less than X kg of animal fats and oils were exported from Uruguay; almost unchanged from the previous year. Overall, exports saw a relatively flat trend pattern. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, animal fats exports stood at less than $X in 2021. In general, exports continue to indicate a buoyant expansion. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Swaziland (X tons) was the main destination for animal fats exports from Uruguay, accounting for a approx. X% share of total exports.

From 2012 to 2017, the average annual rate of growth in terms of volume to Swaziland was relatively modest.

From 2012 to 2017, the average annual growth rate of value to Swaziland was relatively modest.

Export Prices by Country

In 2017, the average animal fats export price amounted to $X per ton, leveling off at the previous year. In general, the export price enjoyed strong growth. The export price peaked in 2017 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2017, the rate of growth in terms of prices for Swaziland amounted to X% per year.

Animal Fats Imports

Imports into Uruguay

After five years of growth, supplies from abroad of animal fats and oils decreased by -X% to X tons in 2021. In general, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, animal fats imports dropped to $X in 2021. Over the period under review, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of animal fats to Uruguay, accounting for a X% share of total imports. Moreover, animal fats imports from Brazil exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Argentina (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and Argentina (-X% per year).

In value terms, Brazil ($X) constituted the largest supplier of animal fats to Uruguay, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and Argentina (-X% per year).

Import Prices by Country

The average animal fats import price stood at $X per ton in 2021, increasing by X% against the previous year. In general, the import price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Brazil ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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