Report Update Nov 1, 2024

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

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Venezuela: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Venezuela

The Venezuelan refined palm oil market contracted to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Palm Oil Production in Venezuela

In value terms, refined palm oil production declined modestly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 14% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Refined Palm Oil Exports

Exports from Venezuela

In 2022, exports of refined palm oil from Venezuela surged to X tons, with an increase of 20% compared with 2021. Overall, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 75% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined palm oil exports skyrocketed to $X in 2022. In general, exports saw pronounced growth. The most prominent rate of growth was recorded in 2020 when exports increased by 79% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for refined palm 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 amounted to +7.3%.

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

From 2012 to 2022, the average annual growth rate of value to Colombia amounted to +3.1%.

Export Prices by Country

In 2022, the average refined palm oil export price amounted to $X per ton, approximately equating the previous year. In general, the export price, however, continues to indicate a pronounced setback. The growth pace was the most rapid in 2020 an increase of 2.2%. Over the period under review, the average export prices attained the maximum 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 -3.9% per year.

Refined Palm Oil Imports

Imports into Venezuela

In 2022, supplies from abroad of refined palm oil was finally on the rise to reach X tons after two years of decline. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 443% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, refined palm oil imports declined to $X in 2022. Overall, imports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 489% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Colombia (X tons) was the main refined palm oil supplier to Venezuela, with a 90% share of total imports. Moreover, refined palm oil imports from Colombia exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia totaled +42.4%.

In value terms, Colombia ($X) constituted the largest supplier of refined palm oil to Venezuela, comprising 92% of total imports. The second position in the ranking was held by Ecuador ($X), with a 6.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Colombia totaled +31.7%.

Import Prices by Country

In 2022, the average refined palm oil import price amounted to $X per ton, falling by -14.2% against the previous year. Overall, the import price continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 36% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat 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 Ecuador totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (-4.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The country with the largest volume of refined palm oil consumption was China, accounting for 12% of total volume. Moreover, refined palm oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with a 5.6% share.

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

Indonesia constituted the country with the largest volume of refined palm oil production, comprising approx. 28% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was occupied by India, with a 5.2% share.

What are the leading suppliers of refined palm oil to Venezuela?

In value terms, Colombia constituted the largest supplier of refined palm oil to Venezuela, comprising 92% of total imports. The second position in the ranking was occupied by Ecuador, with a 7.3% share of total imports.

What are the leading importers of refined palm oil from Venezuela?

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

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

The average refined palm oil export price stood at $541 per ton in 2021, declining by -13.4% against the previous year.

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

In 2021, the average refined palm oil import price amounted to $985 per ton, falling by -1.7% against the previous year.

This report provides an in-depth analysis of the refined 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:

Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

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