Report Update Nov 1, 2024

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

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Venezuela: Palm Oil Market 2024

Palm Oil Market Size in Venezuela

The Venezuelan palm oil market stood at $X in 2022, growing by 5% against the previous year. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.2% against 2020 indices. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Palm Oil Production in Venezuela

In value terms, palm oil production totaled $X in 2022 estimated in export price. Overall, production recorded buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 287% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Palm Oil Exports

Exports from Venezuela

In 2022, approx. X tons of palm oil were exported from Venezuela; picking up by 15% against the previous year. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 74% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, palm oil exports surged to $X in 2022. In general, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2020 with an increase of 84% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for palm oil exports from Venezuela, with a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled +7.2%.

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

From 2012 to 2022, the average annual growth rate of value to Colombia stood at +3.5%.

Export Prices by Country

In 2022, the average palm oil export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2020 an increase of 5.4%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 -3.4% per year.

Palm Oil Imports

Imports into Venezuela

After three years of decline, overseas purchases of palm oil increased by 6.1% to X tons in 2022. Overall, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 53%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, palm oil imports shrank to $X in 2022. Over the period under review, imports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2014 with an increase of 46%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Colombia (X tons) constituted the largest palm oil supplier to Venezuela, accounting for a 60% share of total imports. Moreover, palm oil imports from Colombia exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), fourfold. Honduras (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Colombia stood at +42.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-21.8% per year) and Honduras (-9.9% per year).

In value terms, Colombia ($X) constituted the largest supplier of palm oil to Venezuela, comprising 68% of total imports. The second position in the ranking was taken by Ecuador ($X), with a 15% share of total imports. It was followed by Guatemala, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Colombia stood at +31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-24.8% per year) and Guatemala (-12.2% per year).

Import Prices by Country

The average palm oil import price stood at $X per ton in 2022, waning by -11.5% against the previous year. Over the period under review, the import price recorded a mild shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 33%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

Indonesia constituted the country with the largest volume of palm oil consumption, comprising approx. 25% of total volume. Moreover, palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, threefold. Malaysia ranked third in terms of total consumption with an 8.2% share.

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

Indonesia remains the largest palm oil producing country worldwide, comprising approx. 56% of total volume. Moreover, palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. Thailand ranked third in terms of total production with a 4% share.

What are the leading suppliers of palm oil to Venezuela?

In value terms, Colombia constituted the largest supplier of palm oil to Venezuela, comprising 78% of total imports. The second position in the ranking was occupied by Ecuador, with a 21% share of total imports.

What are the leading importers of palm oil from Venezuela?

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

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

The average palm oil export price stood at $610 per ton in 2020, increasing by 52% against the previous year.

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

The average palm oil import price stood at $822 per ton in 2020, jumping by 17% against the previous year.

This report provides an in-depth analysis of the palm 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 257 - Oil of palm

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