Soybean oilcake market in Bolivia

Earlier Report Observations

Between 2018 and 2019, the domestic market for soybean oilcake in Bolivia contracted from 629 thousand tons to 458 thousand tons. This decline coincided with the establishment and continuation of a tariff moratorium on imports of soybean oilcake, which aimed to lower raw material costs for the livestock and aquaculture sectors. However, domestic soybean production was reported to cover only 13 days of the annual demand from the feed industry, creating a structural dependence on imports, although recorded imports remained at zero. The market decrease was primarily due to a drop in production and an increase in exports. In 2020, the market volume recovered to 536 thousand tons.

The market experienced further volatility from 2021 to 2023. It dipped to 504 thousand tons in 2021 and then fell sharply to 277 thousand tons in 2022, a period characterized by a substantial rise in export volumes to 2 248 thousand tons. A turnaround occurred in 2023, with the domestic market expanding to 464 thousand tons. This recovery took place as the Bolivian oilseeds sector, including soybean oilcake, registered significant export value, reaching approximately 921 million USD. The market is influenced by major players such as Gravetal Bolivia S.A., Industrias de Aceite S.A., and Cargill Bolivia S.A., which hold relevant shares in production and export activities.

Production soybean oilcake in Bolivia

In kind, 2017-2020, K t

Between 2017 and 2020, Bolivia ranked as the 11th largest producer of soybean oilcake globally.

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

In 2020, Bolivia produced 2 166 thousand tons of soybean oilcake, marking a modest 4.9% increase from the previous year. Over the 2017-2020 period, production grew by 2.2%, with an average annual growth rate of 0.7%. The lowest production volume was recorded in 2019 at 2 064 thousand tons, while the highest was in 2018 at 2 179 thousand tons. The most significant decline occurred in 2019, with a 5.3% drop.

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

In value, 2017-2020, M $ US

In 2020, the value of soybean oilcake production in Bolivia reached 651.8 million US dollars, showing a solid 11.9% increase compared to 2019. From 2017 to 2020, production value rose by 7.6%, with an average annual growth rate of 2.5%. The lowest value was recorded in 2019 at 582.4 million US dollars, and the highest in 2018 at 746.8 million US dollars. The most substantial decline was in 2019, with a 22.0% decrease, while the largest increase occurred in 2018, with a 23.3% rise.

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

Exports soybean oilcake from Bolivia

Exports in kind, K t

Bolivia's soybean oilcake exports grew for the third consecutive year in 2020, reaching 1 630 thousand tons, which represents a 1.5% increase from 2019. Over the 2017-2020 period, exports increased by 12.2%, with an average annual growth rate of 3.9%.

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

From 2017 to 2020, Peru and Colombia were the main destinations for Bolivia's soybean oilcake exports, accounting for 80.8% of the total volume. Peru held a 45.7% share, while Colombia accounted for 35.1%, with other partners making up the remainder.

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

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

Exports in value, M $ US

In 2020, the value of Bolivia's soybean oilcake exports totaled 490.6 million US dollars, reflecting a gradual 8.3% year-over-year increase. Between 2017 and 2020, export value grew by 18.1%, equivalent to an annualized rate of 5.7%. The highest value was recorded in 2018 at 531.2 million US dollars. The most significant decline occurred in 2019, with a 14.7% drop, while the largest increase was in 2018, with a 27.9% rise.

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

During 2017-2020, Peru and Colombia were the primary buyers of soybean oilcake from Bolivia in value terms, together representing 81.1% of total exports, with other countries accounting for the rest.

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

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

Imports soybean oilcake to Bolivia

Imports in kind, K t

The import market for soybean oilcake in Bolivia showed an unstable trend from 2017 to 2020. Imports peaked in 2018 and reached their lowest point in 2017, with a 11 364-fold difference between these years. In 2020, imports totaled 0.0 thousand tons, representing an abrupt increase of 1 136 263.6% compared to 2019.

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

From 2017 to 2020, Bolivia's soybean oilcake imports in volume were primarily sourced from the United States and Brazil, which together accounted for 99.9% of total imports.

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

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

Imports in value, M $ US

In 2020, Bolivia imported approximately 0.0 million US dollars worth of soybean oilcake, corresponding to a sharp increase of 232 502.1% from the previous year. Over the 2017-2020 period, import value surged by 251 932%, with an average annual growth rate of 1 260.9%.

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

Between 2017 and 2020, Bolivia's soybean oilcake imports in value terms were largely directed toward the United States and Brazil, whose combined share reached 99.6% of total imports.

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

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