Report Update: Apr 6, 2024

Guatemala - Vegetable Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights

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Vegetable Oils Price in Guatemala - 2023

Vegetable Oils Price in Guatemala (CIF) - 2022

In 2022, the average vegetable oils import price amounted to $2,071 per ton, surging by 23% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils import price increased by +82.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 43%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($2,787 per ton), while the price for Honduras ($1,651 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Vegetable Oils Price in Guatemala (FOB) - 2022

The average vegetable oils export price stood at $1,597 per ton in 2022, with an increase of 22% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils export price increased by +81.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 37% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Belize ($1,862 per ton) and Costa Rica ($1,841 per ton), while the average price for exports to Nicaragua ($1,340 per ton) and Honduras ($1,566 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports in Guatemala

In 2022, after three years of growth, there was decline in purchases abroad of vegetable fats and oils, when their volume decreased by -4.7% to 17K tons. The total import volume increased at an average annual rate of +5.2% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of 18K tons, and then dropped modestly in the following year.

In value terms, vegetable oils imports soared to $36M in 2022. In general, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 when imports increased by 61%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Import of Vegetable Oils in Guatemala (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Honduras	7.0	7.9	11.7	13.4	24.2%
Malaysia	3.9	4.0	8.7	11.8	44.6%
Colombia	1.1	2.4	3.9	4.2	56.3%
Mexico	2.1	2.4	3.5	3.7	20.8%
United States	2.0	1.7	1.9	1.8	-3.5%
Others	0.7	0.4	0.7	0.7	0.0%
Total	16.8	18.9	30.4	35.6	28.4%

Top Suppliers of Vegetable Oils to Guatemala in 2022:

Honduras (8.1K tons)
Malaysia (4.2K tons)
Colombia (2.2K tons)
Mexico (1.7K tons)
United States (0.7K tons)

Vegetable Oils Exports in Guatemala

For the fourth consecutive year, Guatemala recorded growth in overseas shipments of vegetable fats and oils, which increased by 16% to 22K tons in 2022. The total export volume increased at an average annual rate of +9.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vegetable oils exports surged to $35M in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 46% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Export of Vegetable Oils in Guatemala (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
El Salvador	6.1	9.1	14.2	21.2	51.5%
Honduras	4.2	5.1	5.9	5.6	10.1%
Nicaragua	1.8	0.8	2.6	5.4	44.2%
Belize	1.4	1.7	1.7	2.2	16.3%
Others	1.0	0.3	0.4	0.8	-7.2%
Total	14.6	17.0	24.8	35.1	34.0%

Top Export Markets for Vegetable Oils from Guatemala in 2022:

El Salvador (12.8K tons)
Nicaragua (4.0K tons)
Honduras (3.6K tons)
Belize (1.2K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vegetable oils market in Guatemala. 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 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)

Country coverage:

Guatemala

Data coverage:

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