Report Update Nov 1, 2024

Venezuela - Palm Kernel and Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Palm Kernel Oil Market 2024

Palm Kernel Oil Market Size in Venezuela

The Venezuelan palm kernel oil market surged to $X in 2022, growing by 27% against the previous year. Overall, consumption recorded a strong increase. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Palm Kernel Oil Production in Venezuela

In value terms, palm kernel oil production totaled $X in 2022 estimated in export price. Over the period under review, production saw a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 135% against the previous year. Palm kernel oil production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Palm Kernel Oil Exports

Exports from Venezuela

In 2022, palm kernel oil exports from Venezuela reduced sharply to X tons, shrinking by -32% compared with 2021 figures. Overall, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 1,185% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, palm kernel oil exports contracted notably to $X in 2022. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 2,062%. The exports peaked at $X in 2021, and then contracted sharply in the following year.

Exports by Country

Colombia (X tons) was the main destination for palm kernel oil exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Colombia totaled +16.2%.

In value terms, Colombia ($X) also remains the key foreign market for palm kernel and babassu oil exports from Venezuela.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia amounted to +13.1%.

Export Prices by Country

The average palm kernel oil export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the export price, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 68% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Colombia amounted to -2.7% per year.

Palm Kernel Oil Imports

Imports into Venezuela

After six years of growth, purchases abroad of palm kernel and babassu oil decreased by -7.6% to X tons in 2022. In general, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 122%. Over the period under review, imports attained the peak figure at X tons in 2021, and then declined in the following year.

In value terms, palm kernel oil imports amounted to $X in 2022. Over the period under review, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2014 with an increase of 123% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ecuador (X tons) was the main supplier of palm kernel oil to Venezuela, accounting for a 96% share of total imports. Moreover, palm kernel oil imports from Ecuador exceeded the figures recorded by the second-largest supplier, Colombia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Ecuador amounted to +14.5%.

In value terms, Ecuador ($X) constituted the largest supplier of palm kernel and babassu oil to Venezuela, comprising 77% of total imports. The second position in the ranking was taken by Colombia ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Ecuador stood at -1.4%.

Import Prices by Country

In 2022, the average palm kernel oil import price amounted to $X per ton, growing by 9.8% against the previous year. Over the period under review, the import price, however, saw a deep setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Ecuador amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (-0.2%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for palm kernel and babassu oil in the world?

The countries with the highest volumes of in 2021 were Indonesia, Malaysia and China, together comprising 63% of global consumption. Thailand, the United States, Germany, Brazil, the Netherlands and Nigeria lagged somewhat behind, together comprising a further 20%.

What are the largest producers of palm kernel and babassu oil in the world?

Indonesia constituted the country with the largest volume of palm kernel oil production, accounting for 54% of total volume. Moreover, palm kernel oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was occupied by Thailand, with an 8.1% share.

What are the leading suppliers of palm kernel and babassu oil to Venezuela?

In value terms, Ecuador constituted the largest supplier of palm kernel oil to Venezuela.

What are the leading importers of palm kernel and babassu oil from Venezuela?

In value terms, Colombia remains the key foreign market for palm kernel oil exports from Venezuela.

What is the average export price for palm kernel and babassu oil in Venezuela?

The average palm kernel oil export price stood at $457 per ton in 2021, falling by -28.4% against the previous year.

What is the average import price for palm kernel and babassu oil in Venezuela?

In 2021, the average palm kernel oil import price amounted to $1,035 per ton, declining by -17.9% against the previous year.

This report provides an in-depth analysis of the palm kernel oil market in Venezuela. 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:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
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