Rapeseed, colza or mustard oil and fractions market in South America

Earlier Report Observations

The market for rapeseed, colza or mustard oil and fractions in South America contracted significantly between 2018 and 2023. Overall market volume fell from 277.4 thousand tons to 203.9 thousand tons, a reduction of more than 70 thousand tons. This downward trend was not linear, with a temporary increase in 2020 followed by a steeper decline in the subsequent years.

Domestic production showed variability, starting at 124.7 thousand tons in 2018, recovering to 137.2 thousand tons in 2021, and reaching 165.7 thousand tons in 2023. However, this expansion in output was offset by a substantial rise in exports, which grew from 12.6 thousand tons to 93.0 thousand tons over the same period. Concurrently, imports fell from 165.2 thousand tons to 131.1 thousand tons, further reducing the volume available for domestic consumption.

Production rapeseed, colza or mustard oil and fractions in South America

In kind, 2017-2020, K t

Top producers of rapeseed, colza or mustard oil and fractions, 2017-2020

World map of production of rapeseed, colza or mustard oil and fractions, 2017-2020

South America's production of rapeseed, colza, or mustard oil and fractions declined for the third consecutive year. In 2019, output reached 118.6 thousand tonnes, showing only a marginal fluctuation compared to the previous year. Between 2017 and 2020, production decreased by 6.7%, which translates to an annualized decline rate of 2.3%.

Annual dynamics of production in South America in kind, 2017-2020, K t

In value, 2017-2020, M $ US

After a two-year decline, the production value of rapeseed, colza, or mustard oil and fractions in South America increased in 2020. Output was valued at 116.8 million US dollars, reflecting a limited year-over-year increase of 4.9%. Over the period from 2017 to 2020, production value decreased by 10.1%, with a compound annual growth rate (CAGR) of -3.5%. The lowest value was recorded in 2019 at 111.3 million US dollars, which also saw the largest decline of 8.5%.

Annual dynamics of production in South America in value, 2017-2020, M $ US

Exports rapeseed, colza or mustard oil and fractions from South America

Exports in kind, K t

Foreign supplies of rapeseed, colza, or mustard oil and fractions from South America increased for the third consecutive year. In 2020, export volume amounted to 18.3 thousand tonnes, corresponding to a limited increase of 5.9% compared to the previous year. Between 2017 and 2020, exports grew by 51.8%, with a compound annual growth rate (CAGR) of 14.9%.

Annual dynamics of product's exports from South America in kind, 2017-2020, K t

From 2017 to 2020, the United States (accounting for 5.4% of exports in kind), China (2.5%), and Panama (0.7%) were the largest buyers of rapeseed, colza, or mustard oil and fractions from South America. Together, these three markets formed 8.5% of total exports in kind.

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

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

Exports in value, M $ US

Rapeseed, colza, or mustard oil and fractions exports from South America increased for the second consecutive year. In 2020, export value stood at 18.0 million US dollars, up by 11.4% versus the previous year. Between 2017 and 2020, exports grew by 46.2%, equating to an annualized rate of 13.5%. The lowest value was recorded in 2018 at 12.3 million US dollars, which also saw the largest decline of 0.6%. The largest increase occurred in 2019, with a rise of 32.0%.

Annual dynamics of product's exports from South America in value, 2017-2020, M $ US

Throughout 2017 to 2020, the three largest markets—the United States, China, and Panama—remained central to exports in value terms, together accounting for 10.1% of total flows.

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

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

Imports rapeseed, colza or mustard oil and fractions to South America

Imports in kind, K t

In 2020, South America's imports of rapeseed, colza, or mustard oil and fractions totalled 169.5 thousand tonnes, marking a measured gain of 10.0% versus the previous year. Between 2017 and 2020, imports increased by 37.6%, equating to an annualized rate of 11.2%. The largest decline was recorded in 2019 at 6.8%, while the largest increase occurred in 2018 with a rise of 34.2%.

Annual dynamics of product's imports to South America in kind, 2017-2020, K t

From 2017 to 2020, Canada absorbed 74.8% of total imports in kind of rapeseed, colza, or mustard oil and fractions to South America, with the remainder spread across a wide range of smaller destinations.

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

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

Imports in value, M $ US

In 2020, South America's imports of rapeseed, colza, or mustard oil and fractions totalled 148.7 million US dollars, showing a substantial advance of 15.9% versus the previous year. Over the period from 2017 to 2020, imports increased by 32.6%, with a compound annual growth rate (CAGR) of 9.9%. The largest decline was recorded in 2019 at 12.8%, while the largest increase occurred in 2018 with a rise of 31.1%.

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

From 2017 to 2020, Canada remained the leading supplier of rapeseed, colza, or mustard oil and fractions to South America, accounting for 72.1% of total imports in value terms, while the rest was distributed across many other countries.

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

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