Linseed oil and fractions market in Uruguay

Earlier Report Observations

The market for linseed oil and fractions in Uruguay experienced substantial growth from 2018 to 2023, with total volume more than doubling from 660 tons to 1 574 tons. This expansion was fueled almost entirely by a rise in domestic production, which increased from 651 tons to 1 570 tons over the same period, while imports remained a minor component of supply.

After an exceptional surge of over 80% in 2019, market growth continued at a steadier, more moderate pace. The years 2020 and 2022 saw increases of 13% and 11% respectively, while 2021 marked a period of near stabilization with only a 1% rise. By 2023, growth had slowed to 3%, indicating the market was reaching a larger scale.

The role of imports diminished throughout the period, falling from 9 tons to just 4 tons by 2023. This consistent decline highlights that the growing market volume was predominantly served by the expansion of local production capacity.

Production linseed oil and fractions in Uruguay

In kind, 2017-2020, t

Top producers of linseed oil and fractions, 2017-2020

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

The market showed significant volatility during this period. Production reached its lowest point in 2018 at 651 tonnes, which was 10.4% lower than the previous year. In 2019, production surged dramatically by 82.9% to reach 1 191 tonnes. The peak came in 2020 with 1 349 tonnes of linseed oil and fractions produced in Uruguay, representing a 13.3% increase over 2019. Overall, production varied by 2.1 times between the highest and lowest points during these years.

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

Exports linseed oil and fractions from Uruguay

According to market reports, Uruguay did not export any linseed oil and fractions between 2017 and 2020.

Imports linseed oil and fractions to Uruguay

Imports in kind, kg

Uruguay's imports of linseed oil and fractions followed an interesting pattern. After increasing for two consecutive years, imports declined in 2020 to 8 182 kilograms, down 11.3% from the previous year. The highest import volume was recorded in 2019 at 9 223 kilograms, following a substantial 48.9% increase in 2018. Over the entire 2017-2020 period, imports grew by 35.4%, representing an average annual growth rate of 10.6%.

Annual dynamics of product's imports to Uruguay in kind, 2017-2020, kg

Between 2017 and 2020, Uruguay's imports of linseed oil and fractions were highly concentrated geographically. Argentina and Spain together accounted for 83.6% of all imports by volume, with other trading partners making up the remaining share.

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

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

Imports in value, $ US

In value terms, Uruguay's imports of linseed oil and fractions showed mixed trends. The peak came in 2018 with imports valued at 30 159 US dollars, representing a significant 62.6% increase from the previous year. However, imports declined by 8.2% in 2019 before recovering slightly in 2020 to 27 933 US dollars, up 0.9% from 2019. Over the four-year period from 2017 to 2020, import values increased by 50.6%, equivalent to an average annual growth rate of 14.6%.

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

Looking at import values between 2017 and 2020, three countries dominated Uruguay's linseed oil and fractions imports. Argentina was the largest source, accounting for 56.5% of import value, followed by Brazil at 13.3% and Spain at 12.0%. Together, these three markets represented 81.8% of Uruguay's total import value for these products.

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

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