Report Update Nov 1, 2024

Colombia - Crude Maize (Corn) Oil - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Crude Maize Oil Market 2024

Crude Maize Oil Market Size in Colombia

The Colombian crude maize oil market soared to $X in 2022, increasing by 20% against the previous year. Overall, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.2% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Crude Maize Oil Production in Colombia

In value terms, crude maize oil production surged to $X in 2022 estimated in export price. In general, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -13.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 119% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Crude Maize Oil Exports

Exports from Colombia

In 2022, after two years of growth, there was significant decline in overseas shipments of crude maize (corn) oil, when their volume decreased by -9.6% to X tons. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 1,134% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, crude maize oil exports dropped dramatically to $X in 2022. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,214% against the previous year. The exports peaked at $X in 2021, and then dropped remarkably in the following year.

Exports by Country

Ecuador (X tons) and Spain (X tons) were the main destinations of crude maize oil exports from Colombia.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +179.0%).

In value terms, the largest markets for crude maize oil exported from Colombia were Ecuador ($X) and Spain ($X).

Among the main countries of destination, Spain, with a CAGR of +170.0%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average crude maize oil export price stood at $X per ton in 2022, falling by -9.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2021 an increase of 26% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Ecuador amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (-0.9%).

Crude Maize Oil Imports

Imports into Colombia

In 2021, approx. X kg of crude maize (corn) oil were imported into Colombia; stabilizing at the previous year's figure. Over the period under review, imports continue to indicate a sharp decline. The smallest decline of 99.9% was in 2020. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, crude maize oil imports stood at $X in 2021. Overall, imports faced a sharp contraction. The smallest decline of 99.9% was in 2020. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X kg) was the main supplier of crude maize oil to Colombia, accounting for a approx. 100% share of total imports.

From 2014 to 2021, the average annual rate of growth in terms of volume from the United States stood at -49.5%.

In value terms, the United States ($X) constituted the largest supplier of crude maize (corn) oil to Colombia.

From 2014 to 2021, the average annual rate of growth in terms of value from the United States stood at -43.9%.

Import Prices by Country

In 2021, the average crude maize oil import price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when the average import price decreased by 99.9% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2014 to 2021, the rate of growth in terms of prices for the United States amounted to +11.0% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude maize (corn) oil in the world?

The country with the largest volume of crude maize oil consumption was the United States, accounting for 47% of total volume. Moreover, crude maize oil consumption in the United States exceeded the figures recorded by the second-largest consumer, China, threefold. The third position in this ranking was occupied by Brazil, with a 3.2% share.

What are the largest producers of crude maize (corn) oil in the world?

The United States constituted the country with the largest volume of crude maize oil production, comprising approx. 50% of total volume. Moreover, crude maize oil production in the United States exceeded the figures recorded by the second-largest producer, China, threefold. Brazil ranked third in terms of total production with a 4.4% share.

What are the leading suppliers of crude maize (corn) oil to Colombia?

In value terms, Sweden constituted the largest supplier of crude maize oil to Colombia.

What are the leading importers of crude maize (corn) oil from Colombia?

In value terms, Spain emerged as the key foreign market for crude maize oil exports from Colombia, comprising 94% of total exports. The second position in the ranking was occupied by Ecuador, with a 6.5% share of total exports.

What is the average export price for crude maize (corn) oil in Colombia?

In 2021, the average crude maize oil export price amounted to $1,432 per ton, increasing by 5.6% against the previous year.

What is the average import price for crude maize (corn) oil in Colombia?

The average crude maize oil import price stood at $1,141 per ton in 2019, therefore, remained relatively stable against the previous year.

This report provides an in-depth analysis of the crude maize oil market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 60 - Oil of Maize

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023