Market research

Castor oil and fractions market in Latin America and the Caribbean

$Castor oil and fractions market in Latin America and the Caribbean$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"Latin America and the Caribbean" region includes following countries:

Argentina

Bolivia

Bouvet Island

Brazil

Chile

Colombia

Ecuador

Falkland Islands (Malvinas)

South Georgia and the South Sandwich Islands

French Guiana

Guyana

Paraguay

Peru

Suriname

Uruguay

Venezuela

Belize

Costa Rica

El Salvador

Guatemala

Honduras

Mexico

Nicaragua

Panama

Antigua and Barbuda

the Bahamas

Barbados

British Virgin Islands

Cayman Islands

Cuba

Dominica

Dominican Republic

Grenada

Guadeloupe

Haiti

Jamaica

Martinique

Montserrat

Curacao

Aruba

Saint Maarten (Dutch part)

Bonaire

Puerto Rico

Saint-Barthélemy

Saint Kitts and Nevis

Anguilla

Saint Lucia

Saint-Martin (French Part)

Saint Vincent and the Grenadines

Trinidad and Tobago

Turks and Caicos Islands

United States Virgin Islands

Earlier Report Observations

From 2018 to 2020, the castor oil market in Latin America expanded from 23 764 t to 29 764 t, peaking in 2020. This surge was primarily fueled by increased use of castor oil in biofuel production, particularly in Brazil, where the push for sustainable energy sources boosted regional demand. Concurrently, growing consumer preference for natural and eco-friendly products in cosmetics and personal care, along with industrial demand for polyurethanes and lubricants, supported market volume.

After 2020, market volume contracted, falling to 17 720 t in 2022 before a slight recovery to 18 136 t in 2023. During this period, industry reports highlighted sustained demand from pharmaceutical and cosmetic sectors, as well as rising adoption in green chemical applications. Brazil maintained its central role as the leading producer and exporter, influencing supply dynamics across the region.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Latin America and the Caribbean
  1. 5.1.1. Annual dynamics of production in Latin America and the Caribbean in kind, 2018-2023, t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production castor oil and fractions in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of castor oil and fractions, 2017-2020

Source: SHEV.io

World map of production of castor oil and fractions, 2017-2020

Source: SHEV.io

Latin America and the Caribbean saw castor oil and fractions production rise for the third year in a row. In 2020, the region produced 21 526 tonnes, marking a sharp 32.7% increase from the previous year. From 2017 to 2020, production grew by 105.7%, with an average annual growth rate of 27.2%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	26.3%	22.6%	32.7%	27.2%

Source: SHEV.io

Exports castor oil and fractions from Latin America and the Caribbean

Exports in kind, t

Export volumes showed noticeable fluctuations during this period. In 2019, exports hit their lowest point at 641 tonnes, then surged to 1 196 tonnes in 2020—an 86.6% increase from the year before. This represents a 1.9-fold difference between the two years, with the largest decline of 45.9% occurring in 2019.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	41.5%	(45.9%)	86.6%	12.6%

Source: SHEV.io

From 2017 to 2020, the United States, France, and Germany remained the top buyers of castor oil and fractions from Latin America and the Caribbean. The United States accounted for 59.7% of exports in kind, France for 2.9%, and Germany for 2.0%, together making up 64.5% of total exports.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Source: SHEV.io

Exports in value, K $ US

In 2020, Latin America and the Caribbean exported 2 197 thousand US dollars worth of castor oil and fractions, showing an abrupt 29.2% increase from the previous year. Over the 2017-2020 period, exports rose by 8.8%, with an average annual growth rate of 2.9%. The minimum value was recorded in 2019 at 1 700 thousand US dollars, while the peak was in 2018 at 2 918 thousand US dollars. The largest decline of 41.7% occurred in 2019, and the largest increase of 44.6% was in 2018.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	44.6%	(41.7%)	29.2%	2.9%

Source: SHEV.io

Between 2017 and 2020, the United States, France, and Germany were the main destinations for castor oil and fractions exports from Latin America and the Caribbean in value terms. The United States held a 53.9% share, France 3.2%, and Germany 1.3%, combining for 58.4% of total export value.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Source: SHEV.io

Imports castor oil and fractions to Latin America and the Caribbean

Imports in kind, t

After two years of decline, castor oil and fractions imports into Latin America and the Caribbean increased. In 2020, the region imported approximately 9 434 tonnes, up 26.7% from the previous year. From 2017 to 2020, imports fell by 34.7%, with an average annual decrease of 13.2%. The lowest volume was in 2019 at 7 446 tonnes, when the largest decline of 36.5% was recorded.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(18.8%)	(36.5%)	26.7%	(13.2%)

Source: SHEV.io

From 2017 to 2020, the import pattern in kind was heavily reliant on India, which absorbed 90.4% of total flows.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

Following a two-year decrease, foreign supplies of castor oil and fractions to Latin America and the Caribbean rose. In 2020, imports amounted to 14 919 thousand US dollars, marking a 6.9% increase compared to the previous year. Between 2017 and 2020, imports dropped by 38.9%, equating to an annualized rate of 15.2%. The minimum value was in 2019 at 13 950 thousand US dollars, when the largest decline of 29.2% occurred.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(19.4%)	(29.2%)	6.9%	(15.2%)

Source: SHEV.io

From 2017 to 2020, India remained the key source for castor oil and fractions imports into Latin America and the Caribbean, accounting for 86.8% of total imports in value terms, while other destinations played a much smaller role.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Latin America and the Caribbean in value, 2017-2020

Source: SHEV.io