Colombia: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Colombia

The Colombian chemically modified oils market reduced dramatically to $X in 2022, dropping by X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Chemically Modified Oils Production in Colombia

In value terms, chemically modified oils production fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Chemically Modified Oils Exports

Exports from Colombia

In 2022, overseas shipments of animal or vegetable fats and oils chemically modified increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, chemically modified oils exports surged to $X in 2022. Overall, exports saw a significant increase. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), the Netherlands (X tons) and Spain (X tons) were the main destinations of chemically modified oils exports from Colombia, together comprising X% of total exports. These countries were followed by the UK, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and Spain ($X) appeared to be the largest markets for chemically modified oils exported from Colombia worldwide, together accounting for X% of total exports. These countries were followed by the UK, which accounted for a further X%.

Among the main countries of destination, the UK, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, continues to indicate a noticeable slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Spain ($X per ton) and the United States ($X 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 the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into Colombia

In 2022, chemically modified oils imports into Colombia fell notably to X tons, with a decrease of X% compared with the previous year's figure. Overall, imports showed a deep setback. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, chemically modified oils imports declined to $X in 2022. In general, imports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of chemically modified oils imports to Colombia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Colombia, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Argentina (X% per year).

Import Prices by Country

The average chemically modified oils import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price saw temperate growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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