Castor Oil Seed Price in Ecuador - 2022
Contents:
- Castor Oil Seed Price in Ecuador (CIF) - 2022
- Castor Oil Seed Price in Ecuador (FOB) - 2022
- Castor Oil Seed Imports in Ecuador
- Castor Oil Seed Exports in Ecuador
Castor Oil Seed Price in Ecuador (CIF) - 2022
In 2022, the average castor oil seed import price amounted to $3,227 per ton, approximately equating the previous year. Overall, the import price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 29%. As a result, import price reached the peak level of $5,276 per ton. From 2015 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($34,476 per ton), while the price for Brazil ($1,646 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+25.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Castor Oil Seed Price in Ecuador (FOB) - 2022
The average castor oil seed export price stood at $4,777 per ton in 2022, dropping by -17.2% against the previous year. Over the period under review, the export price, however, posted strong growth. The growth pace was the most rapid in 2020 when the average export price increased by 56% against the previous year. The export price peaked at $5,768 per ton in 2021, and then shrank significantly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($15,236 per ton), while the average price for exports to Peru ($1,151 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+7.0%), while the prices for the other major destinations experienced a decline.
Castor Oil Seed Imports in Ecuador
In 2022, purchases abroad of castor oil seed decreased by -27% to 17 tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 142%.
In value terms, castor oil seed imports reduced dramatically to $56K in 2022. Over the period under review, imports, however, posted significant growth. The growth pace was the most rapid in 2020 when imports increased by 148% against the previous year.
| Import of Castor Oil Seed in Ecuador (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 7.4 | 18.8 | 46.1 | 20.4 | 40.2% |
| Brazil | N/A | 11.6 | 25.4 | 11.3 | -1.3% |
| Italy | N/A | N/A | N/A | 11.0 | 0% |
| Denmark | 2.8 | 3.8 | 3.6 | 0.8 | -34.1% |
| Sweden | 1.7 | N/A | N/A | N/A | 0% |
| Others | 2.4 | 1.1 | 1.3 | 12.4 | 72.9% |
| Total | 14.2 | 35.3 | 76.5 | 55.9 | 57.9% |
Top Suppliers of Castor Oil Seed to Ecuador in 2022:
- Brazil (6.9 tons)
- Italy (4.5 tons)
- Germany (0.6 tons)
- Denmark (0.4 tons)
Castor Oil Seed Exports in Ecuador
In 2022, after two years of decline, there was significant growth in shipments abroad of castor oil seed, when their volume increased by 10% to 2.5 tons. In general, exports, however, saw a dramatic contraction.
In value terms, castor oil seed exports declined to $12K in 2022. Over the period under review, exports, however, faced a significant contraction. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year.
| Export of Castor Oil Seed in Ecuador (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Colombia | 77.4 | 8.1 | 9.7 | 8.7 | -51.7% |
| United States | 18.3 | 2.6 | 3.3 | 3.0 | -45.3% |
| Peru | 0.9 | 0.1 | 0.1 | 0.1 | -51.9% |
| Dominican Republic | 7.3 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 104 | 10.8 | 13.1 | 11.9 | -51.5% |
Top Export Markets for Castor Oil Seed from Ecuador in 2022:
- Colombia (2211.0 kg)
- United States (199.0 kg)
- Peru (86.0 kg)
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