Report Update Nov 1, 2024

Colombia - Maize Oil - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Maize Oil Market 2024

Maize Oil Market Size in Colombia

The Colombian maize oil market surged to $X in 2022, jumping by 20% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Maize Oil Production in Colombia

In value terms, maize oil production soared to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by 121%. Maize oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Maize Oil Exports

Exports from Colombia

In 2022, after two years of growth, there was significant decline in overseas shipments of maize oil, when their volume decreased by -6.1% to X tons. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 32%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, maize oil exports shrank remarkably to $X in 2022. In general, exports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 43%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for maize oil exports from Colombia, with a 50% share of total exports. Moreover, maize oil exports to Ecuador exceeded the volume sent to the second major destination, Spain (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Ecuador stood at -6.8%.

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

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

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, dropping by -9.5% against the previous year. Overall, the export price recorded a perceptible downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 26%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external 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 stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (-3.2%).

Maize Oil Imports

Imports into Colombia

After three years of decline, overseas purchases of maize oil increased by 6.3% to X tons in 2022. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 1,443%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, maize oil imports expanded rapidly to $X in 2022. Overall, imports saw a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 1,045%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main maize oil supplier to Colombia, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +25.8%.

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

From 2012 to 2022, the average annual growth rate of value from the United States totaled +25.5%.

Import Prices by Country

In 2022, the average maize oil import price amounted to $X per ton, with an increase of 4% against the previous year. In general, the import price, however, continues to indicate a noticeable downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +13.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for maize oil in the world?

The United States remains the largest maize oil consuming country worldwide, comprising approx. 45% of total volume. Moreover, maize oil consumption in the United States exceeded the figures recorded by the second-largest consumer, China, threefold. Brazil ranked third in terms of total consumption with a 3.2% share.

What are the largest producers of maize oil in the world?

The United States remains the largest maize oil producing country worldwide, comprising approx. 50% of total volume. Moreover, maize oil production in the United States exceeded the figures recorded by the second-largest producer, China, threefold. The third position in this ranking was occupied by Brazil, with a 4.4% share.

What are the leading suppliers of maize oil to Colombia?

In value terms, the United States constituted the largest supplier of maize oil to Colombia.

What are the leading importers of maize oil from Colombia?

In value terms, the largest markets for maize oil exported from Colombia were Spain and Ecuador.

What is the average export price for maize oil in Colombia?

The average maize oil export price stood at $1,535 per ton in 2021, with an increase of 8.6% against the previous year.

What is the average import price for maize oil in Colombia?

The average maize oil import price stood at $2,255 per ton in 2021, rising by 11% against the previous year.

This report provides an in-depth analysis of the 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