Report Update Nov 1, 2024

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

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Colombia: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Colombia

In 2021, the Colombian refined maize oil market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, showed a perceptible curtailment. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Refined Maize Oil Production in Colombia

In value terms, refined maize oil production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by 19%. Refined maize oil production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Refined Maize Oil Exports

Exports from Colombia

In 2021, overseas shipments of refined maize (corn) oil decreased by -25.3% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports faced a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 174%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, refined maize oil exports amounted to $X in 2021. Overall, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 144% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for refined maize oil exports from Colombia, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Ecuador stood at -19.0%.

In value terms, Ecuador ($X) emerged as the key foreign market for refined maize (corn) oil exports from Colombia.

From 2012 to 2021, the average annual growth rate of value to Ecuador stood at -19.1%.

Export Prices by Country

The average refined maize oil export price stood at $X per ton in 2021, growing by 35% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; afterwards, it flattened through to 2021.

As there is only one major export destination, the average price level is determined by prices for Ecuador.

From 2012 to 2021, the rate of growth in terms of prices for Ecuador amounted to -0.2% per year.

Refined Maize Oil Imports

Imports into Colombia

In 2021, the amount of refined maize (corn) oil imported into Colombia shrank to X tons, with a decrease of -12.9% on 2020 figures. In general, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 896%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, refined maize oil imports dropped sharply to $X in 2021. Overall, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 814% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main refined maize oil supplier to Colombia, with a 92% share of total imports. Moreover, refined maize oil imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +26.8%.

In value terms, the United States ($X) constituted the largest supplier of refined maize (corn) oil to Colombia, comprising 93% of total imports. The second position in the ranking was held by Mexico ($X), with a 7.2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +26.0%.

Import Prices by Country

The average refined maize oil import price stood at $X per ton in 2021, with a decrease of -7.6% against the previous year. Overall, the import price saw a abrupt decline. The growth pace was the most rapid in 2020 an increase of 2.5%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Mexico totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+13.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The country with the largest volume of refined maize oil consumption was China, comprising approx. 18% of total volume. Moreover, refined maize oil consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 4% share.

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

China remains the largest refined maize oil producing country worldwide, comprising approx. 19% of total volume. Moreover, refined maize oil production in China exceeded the figures recorded by the second-largest producer, India, twofold. The third position in this ranking was occupied by the United States, with a 4.9% share.

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

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

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

In value terms, Ecuador remains the key foreign market for refined maize oil exports from Colombia.

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

The average refined maize oil export price stood at $1,720 per ton in 2021, surging by 4.6% against the previous year.

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

The average refined 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 refined 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:

Prodcom 10621460 - Refined maize (corn) oil and its fractions (excluding chemically modified)

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