Linseed market in Latin America and the Caribbean

Earlier Report Observations

The linseed market in Latin America and the Caribbean stood at 42 244 metric tons in 2018. It dropped sharply to 27 658 metric tons in 2019, a decline of 34%, with production and trade also falling. The market recovered in 2020, reaching 43 439 metric tons, surpassing the 2018 level.

Market volume decreased to 39 518 metric tons in 2021 before surging to a peak of 48 290 metric tons in 2022, driven by a significant rise in domestic production to 42 320 metric tons. In 2022, the region saw a diversification of flax oil import sources, with Mexico sourcing from Belgium, the UK, and Turkey, indicating shifts in supply chains. The market then moderated to 44 657 metric tons in 2023. During this period, the flax oil market in Mexico was valued at $1.06 billion, with growth fueled by demand from the food and beverage industry for natural and health-oriented additives, particularly in the organic segment, which likely supported demand for linseed as a raw material.

In 2024, linseed imports into the region amounted to 10 371 metric tons, while exports were 2 818 metric tons. The broader industry context included the launch of a skincare product line based on flax oil by a cosmetics company, representing about 18% of its portfolio, which expanded the oil's applications. Innovations in sustainable packaging reduced plastic waste by 25% in 2023, continuing into 2024, and companies expanded their presence in Asian markets through new partnerships in China and India. The Latin American flax oil market reached a value of $6.24 billion.

Production linseed in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of linseed, 2017-2020

World map of production of linseed, 2017-2020

In Latin America and the Caribbean, linseed production reached 31 118 tonnes in 2020, marking a significant 44.4% increase from the previous year. Looking at the period from 2017 to 2020, production grew by 13.5%, which translates to an annualized growth rate of 4.3%. The lowest production level was recorded in 2019 at 21 551 tonnes, while the peak occurred in 2018 with 33 260 tonnes. The most substantial decline was observed in 2019, when production fell by 35.2%.

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

In value, 2017-2020, K $ US

The value of linseed output in Latin America and the Caribbean stood at 27 556 thousand US dollars in 2020, showing a robust 63.9% year-over-year increase. From 2017 to 2020, production value rose by 19.7%, corresponding to a compound annual growth rate (CAGR) of 6.2%. The lowest value was recorded in 2019 at 16 817 thousand US dollars, with the largest decline that year amounting to 38.6%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, K $ US

Exports linseed from Latin America and the Caribbean

Exports in kind, t

Linseed exports from Latin America and the Caribbean declined for the third consecutive year. In 2020, shipments totaled 2 807 tonnes, representing a 40.7% decrease compared to 2019. Over the 2017-2020 period, exports fell by 61.7%, equating to an annualized decline rate of 27.4%.

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

Between 2017 and 2020, the United States and Canada were the top two markets for linseed exports from Latin America and the Caribbean in volume terms. The United States accounted for 44.5% of total export flows, while Canada represented 4.5%.

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

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

Exports in value, K $ US

Linseed exports from Latin America and the Caribbean declined for the third year in a row. In 2020, export value amounted to 2 486 thousand US dollars, reflecting a sharp 32.8% drop from 2019. From 2017 to 2020, export value decreased by 59.6%, with a compound annual decline rate (CAGR) of 26.1%.

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

From 2017 to 2020, the United States, Canada, and Spain were the leading destinations for linseed exports from Latin America and the Caribbean in value terms. The United States held 51.1% of export value, Canada accounted for 6.6%, and Spain represented 0.5%. Together, these three countries made up 58.2% of total export flows.

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

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

Imports linseed to Latin America and the Caribbean

Imports in kind, t

Latin America and the Caribbean imported approximately 15 128 tonnes of linseed in 2020, a steep 39.5% increase from the previous year. Over the 2017-2020 period, imports decreased by 3.4%, with a compound annual growth rate (CAGR) of 1.2%. The lowest import volume was recorded in 2019 at 10 844 tonnes, while the peak occurred in 2018 with 15 668 tonnes. The largest decline was in 2019, when imports fell by 30.8%.

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

In the 2017-2020 period, Canada and the United States were the primary suppliers of linseed to Latin America and the Caribbean, jointly accounting for 77.0% of total import volume.

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

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

Imports in value, K $ US

After a two-year decline, linseed imports into Latin America and the Caribbean increased. In 2020, import value was recorded at 11 576 thousand US dollars, up by 47.6% compared to 2019. The lowest value was in 2019 at 7 842 thousand US dollars, with the largest decline that year at 29.3%.

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

From 2017 to 2020, Canada and the United States played the leading roles in linseed imports to Latin America and the Caribbean in value terms, jointly representing 80.0% of total import flows.

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

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