Corn oil and fractions market in Argentina

Earlier Report Observations

The introduction of Law 13808 in Santa Fe province in 2018, regulating used vegetable oils and frying fats for biofuel production, provided a regulatory framework for the industry. This coincided with the operation of 51 oilseed processing plants in the country. Production of corn oil grew steadily from 46 800 t in 2018 to 50 200 t in 2020. However, domestic market volume fluctuated significantly due to export volatility, dropping to 28 423 t in 2019 after exports surged to 19 975 t, before recovering to 33 577 t in 2020 as exports moderated.

Revisions to Argentina's Food Code in 2021 clarified standards for corn oil, while genetic improvement research aimed to enhance its fatty acid profile. A major shift occurred in 2022 when production jumped 20% to 55 400 t, driven by strong global demand for corn oil in biodiesel, which reached 1.3 million metric tons of consumption worldwide that year. International biofuel company contracts also highlighted the product's industrial use. With exports falling to zero, the domestic market volume peaked at 55 402 t.

In 2023, production edged down slightly to 54 700 t, and exports resumed at 10 000 t, reducing the domestic market volume to 44 706 t. During this period, new international regulations, such as Spain's Royal Decree 351/2025 modernizing standards for edible vegetable oils, began influencing trade frameworks, potentially affecting export dynamics for Argentine corn oil.

Production corn oil and fractions in Argentina

In kind, 2017-2020, t

Argentina ranked 12th globally in corn oil and fractions production from 2017 to 2020.

Top producers of corn oil and fractions, 2017-2020

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

Corn oil and fractions production in Argentina grew for the third consecutive year. In 2020, Argentina produced 50 200 tonnes, marking a 3.9% increase from the previous year. Between 2017 and 2020, production rose by 10.6%, averaging an annual growth rate of 3.4%.

Annual dynamics of production in Argentina in kind, 2017-2020, t

In value, 2017-2020, K $ US

After two years of decline, Argentina's corn oil and fractions production value rebounded. In 2020, the output was valued at 41 502 thousand US dollars, up 34.7% from the previous year. The lowest value was recorded in 2019 at 30 806 thousand US dollars, with the largest decline occurring in 2018 at 14.6%.

Annual dynamics of production in Argentina in value, 2017-2020, K $ US

Exports corn oil and fractions from Argentina

Exports in kind, t

The market showed significant volatility during this period. Exports reached their lowest point in 2018 at 2 175 tonnes and peaked in 2017, with an 11.6-fold difference between these years. In 2020, Argentina exported 16 623 tonnes, representing a sharp decline of 16.8% compared to 2019. The largest decrease was recorded in 2018 at 91.4%, while the largest increase occurred in 2019 at 818.6%.

Annual dynamics of product's exports from Argentina in kind, 2017-2020, t

From 2017 to 2020, Tunisia was the leading buyer of corn oil and fractions from Argentina, accounting for 77.5% of total exports in volume, with the remainder distributed among many other countries.

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

World map of product's exports from Argentina in kind, 2017-2020

Exports in value, K $ US

Market performance showed notable fluctuations over the period. Export values dropped to a minimum in 2018 at 1 645 thousand US dollars and climbed to a maximum in 2017, with a 14-fold shift between these years. In 2020, Argentina's corn oil and fractions export volume amounted to 13 743 thousand US dollars, showing a modest increase of 7.9% compared to the previous year. The largest decline was recorded in 2018 at 92.9%, while the largest increase occurred in 2019 at 674.7%.

Annual dynamics of product's exports from Argentina in value, 2017-2020, K $ US

Between 2017 and 2020, Tunisia was the primary destination for exports in value terms, representing 73.5% of total flows, with other markets forming a long tail of smaller partners.

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

World map of product's exports from Argentina in value, 2017-2020

Imports corn oil and fractions to Argentina

Imports in kind, t

The market displayed an unstable trend throughout the timeframe. Imports peaked in 2019 at 98 tonnes and fell to a trough in 2020 at 0.0 tonnes, a change by a factor of 196 776. In 2020, Argentina imported 0.0 tonnes of corn oil and fractions, down 100.0% from the prior year. The largest increase was recorded in 2019 at 632 214.9%.

Annual dynamics of product's imports to Argentina in kind, 2017-2020, t

From 2017 to 2020, Argentina's imports of corn oil and fractions in volume were highly concentrated on Brazil, which accounted for 100.0% of total flows.

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

World map of product's imports to Argentina in kind, 2017-2020

Imports in value, K $ US

The market exhibited an unstable trend throughout the period. Import values reached a maximum in 2019 at 117 thousand US dollars and dropped to a minimum in 2020 at 0.0 thousand US dollars, a 4 606-fold difference. In 2020, Argentina's corn oil and fractions import volume came to 0.0 thousand US dollars, which is 100.0% less than the previous year. The largest increase was recorded in 2019 at 87 552.0%.

Annual dynamics of product's imports to Argentina in value, 2017-2020, K $ US

Throughout 2017–2020, imports in value terms remained heavily focused on Brazil, which accounted for 99.8% of total flows.

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

World map of product's imports to Argentina in value, 2017-2020