Colombia: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2025

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Colombia

The Colombian market for sunflower-seed or safflower oil, refined, but not chemically modified totaled $X in 2021, approximately mirroring the previous year. Over the period under review, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +84.7% against 2014 indices. Consumption of peaked in 2021 and is expected to retain growth in years to come.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Colombia

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified totaled $X in 2021 estimated in export price. Overall, production, however, saw a resilient increase. The growth pace was the most rapid in 2019 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2020 to 2021, production of growth remained at a lower figure.

Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Exports from Colombia

In 2021, shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified decreased by -27.9% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 154%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified fell rapidly to $X in 2021. Overall, exports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2019 with an increase of 150% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Panama (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from Colombia, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Panama totaled +236.0%.

In value terms, Panama ($X) also remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from Colombia.

From 2012 to 2021, the average annual rate of growth in terms of value to Panama stood at +202.6%.

Export Prices by Country

In 2021, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, dropping by -8.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 80% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Ecuador amounted to -0.3% per year.

Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Imports into Colombia

In 2021, approx. X tons of sunflower-seed or safflower oil, refined, but not chemically modified were imported into Colombia; jumping by 38% on the previous year. Over the period under review, imports, however, showed a deep setback. Over the period under review, imports of attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2021. In general, imports, however, recorded a abrupt decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Bolivia (X tons) constituted the largest supplier of sunflower-seed or safflower oil, refined, but not chemically modified to Colombia, accounting for a 62% share of total imports. Moreover, imports of sunflower-seed or safflower oil, refined, but not chemically modified from Bolivia exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from Bolivia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+67.2% per year) and Argentina (-27.3% per year).

In value terms, the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to Colombia were Bolivia ($X), Ecuador ($X) and Argentina ($X), with a combined 100% share of total imports.

In terms of the main suppliers, Ecuador, with a CAGR of +71.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, picking up by 35% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Ecuador ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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