Edible oils will record robust growth in retail volume sales for 2020 as a whole. Since the beginning of the COVID-19 pandemic, many Argentinians have been spending most of their time at home due to lockdown measures, social distancing and a dramatic rise in the incidence of remote working.
During the early stages of the COVID-19 pandemic in Argentina, demand for edible oils was bolstered by panic buying and stockpiling. According to a report by point-of-sale software supplier Scanntech, in March 2020 retail volume sales of such products increased by close to 50%.
The COVID-19 pandemic has not had a major impact on the competitive landscape in edible oils in 2020. Aceitera General Deheza, Molinos Río de la Plata and Molino Cañuelas remain the top three players, together accounting for the lion’s share of retail current value sales.
Edible oils retail volume sales are projected to decline in 2021. This is mainly because the epidemiological situation in Argentina is likely to improve, particularly in light of recent announcements about the efficacy of new COVID-19 vaccines.
Due to the worst crisis in the Argentinian economy since the sovereign default of 2001, many local edible oils producers were already experiencing serious financial problems before the outbreak of COVID-19. It is possible some will not survive the economic fallout of the pandemic, hence the competitive landscape in this category could become even more concentrated during the early years of the forecast period.
Edible oils retail value sales via e-commerce rose strongly in 2020 as Argentinians became less inclined to visit brick-and-mortar stores due to lockdown measures and fear of contracting COVID-19. The channel looks set to make further value share gains in the short to medium term, partly due to enduring concerns about community transmission of the virus but also because the experience of the pandemic has strengthened consumer appreciation for the convenience of online shopping.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Edible Oils research and analysis database.
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