
Colombia - Palm Kernel and Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights
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Palm Kernel Oil Market Size in Colombia
After two years of growth, the Colombian palm kernel oil market decreased by -15.1% to $X in 2022. In general, consumption, however, recorded a pronounced expansion. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.
Palm Kernel Oil Production in Colombia
In value terms, palm kernel oil production fell to $X in 2022 estimated in export price. Overall, production saw a mild contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by 63%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.
Palm Kernel Oil Exports
Exports from Colombia
Palm kernel oil exports from Colombia contracted to X tons in 2022, reducing by -5% on the year before. In general, exports, however, saw a temperate increase. The most prominent rate of growth was recorded in 2019 when exports increased by 84%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.
In value terms, palm kernel oil exports fell remarkably to $X in 2022. Overall, exports, however, continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 88% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
Exports by Country
The Netherlands (X tons), Mexico (X tons) and Brazil (X tons) were the main destinations of palm kernel oil exports from Colombia, with a combined 43% share of total exports. Argentina, Chile, Spain, Germany, Italy and the UK lagged somewhat behind, together accounting for a further 21%.
From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +56.2%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the Netherlands ($X) emerged as the key foreign market for palm kernel and babassu oil exports from Colombia, comprising 21% of total exports. The second position in the ranking was held by Mexico ($X), with a 9.5% share of total exports. It was followed by Brazil, with an 8.6% share.
From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-4.2% per year) and Brazil (+12.3% per year).
Export Prices by Country
The average palm kernel oil export price stood at $X per ton in 2022, which is down by -19.3% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 71% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted rapidly in the following year.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Mexico ($X 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 Spain (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.
Palm Kernel Oil Imports
Imports into Colombia
In 2022, after three years of decline, there was significant growth in purchases abroad of palm kernel and babassu oil, when their volume increased by 15% to X tons. Overall, imports recorded a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by 195% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.
In value terms, palm kernel oil imports expanded sharply to $X in 2022. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 118%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.
Imports by Country
Venezuela (X tons), Ecuador (X tons) and Peru (X tons) were the main suppliers of palm kernel oil imports to Colombia, with a combined 99.9% share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Venezuela (with a CAGR of +41.8%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Ecuador ($X), Venezuela ($X) and Peru ($X) were the largest palm kernel oil suppliers to Colombia, with a combined 99.9% share of total imports.
Among the main suppliers, Venezuela, with a CAGR of +38.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average palm kernel oil import price stood at $X per ton in 2022, reducing by -2% against the previous year. Overall, the import price showed a drastic downturn. The pace of growth appeared the most rapid in 2020 an increase of 31% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Venezuela ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (-2.3%), while the prices for the other major suppliers experienced a decline.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the palm kernel 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 258 - Oil of Palm Kernel
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
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