Uruguay: Oil Crops Market 2024

Oil Crops Market Size in Uruguay

The Uruguayan oil crops market expanded rapidly to $X in 2022, with an increase of X% against the previous year. In general, consumption, however, recorded a abrupt setback. Oil crops consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Oil Crops Production in Uruguay

In value terms, oil crops production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2019 with an increase of X%. Oil crops production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The average yield of oil crops (primary) in Uruguay soared to X tons per ha in 2022, with an increase of X% on the previous year. In general, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The oil crops yield peaked at X tons per ha in 2013; however, from 2014 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The oil crops harvested area in Uruguay contracted slightly to X ha in 2022, with a decrease of X% compared with 2021 figures. The harvested area 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 most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The oil crops harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area remained at a lower figure.

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Oil Crops Exports

Exports from Uruguay

In 2022, after two years of decline, there was significant growth in shipments abroad of oil crops (primary), when their volume increased by X% to X tons. Over the period under review, total exports 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. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, oil crops exports soared to $X in 2022. Overall, exports showed a perceptible increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Free Zones (X tons) was the main destination for oil crops exports from Uruguay, with a X% share of total exports. Moreover, oil crops exports to Free Zones exceeded the volume sent to the second major destination, China (X tons), fourfold. Argentina (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Argentina (X% per year).

In value terms, Free Zones ($X) remains the key foreign market for oil crops (primary) exports from Uruguay, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Argentina, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Argentina (X% per year).

Export Prices by Country

In 2022, the average oil crops export price amounted to $X per ton, surging by X% against the previous year. In general, export price indicated a mild 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, oil crops export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Bangladesh ($X per ton) and Free Zones ($X per ton), while the average price for exports to China ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Uruguay

In 2022, approx. X tons of oil crops (primary) were imported into Uruguay; increasing by X% compared with the year before. In general, imports, however, saw a perceptible contraction. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, oil crops imports soared to $X in 2022. Overall, imports, however, showed a noticeable downturn. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest oil crops supplier to Uruguay, with a X% share of total imports. Moreover, oil crops imports from Argentina exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), more than tenfold. Paraguay (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Argentina stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (X% per year) and Paraguay (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina stood at 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

The average oil crops import price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Paraguay ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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