Report Update Apr 1, 2024

Colombia - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Groundnut Oil Market 2024

Groundnut Oil Market Size in Colombia

After two years of growth, the Colombian groundnut oil market decreased by X% to $X in 2022. Overall, consumption, however, showed a relatively flat trend pattern. Groundnut oil consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Groundnut Oil Production in Colombia

In value terms, groundnut oil production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Groundnut Oil Exports

Exports from Colombia

In 2022, groundnut oil exports from Colombia declined remarkably to X kg, dropping by X% on the year before. Overall, exports saw a sharp slump. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, groundnut oil exports contracted to $X in 2022. In general, exports recorded a dramatic descent. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Belgium (X kg) was the main destination for groundnut oil exports from Colombia, accounting for a X% share of total exports. Moreover, groundnut oil exports to Belgium exceeded the volume sent to the second major destination, Germany (X kg), threefold.

From 2014 to 2022, the average annual growth rate of volume to Belgium was relatively modest.

In value terms, Belgium ($X) emerged as the key foreign market for groundnut oil exports from Colombia, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports.

From 2014 to 2022, the average annual growth rate of value to Belgium was relatively modest.

Export Prices by Country

In 2022, the average groundnut oil export price amounted to $X per ton, growing by X% against the previous year. In general, the export price saw a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Germany totaled $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Groundnut Oil Imports

Imports into Colombia

After two years of growth, overseas purchases of groundnut oil decreased by X% to X tons in 2022. In general, imports, however, posted a mild expansion. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at X tons in 2021, and then fell notably in the following year.

In value terms, groundnut oil imports plummeted to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest groundnut oil supplier to Colombia, accounting for a X% share of total imports. Moreover, groundnut oil imports from the United States exceeded the figures recorded by the second-largest supplier, France (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Thailand (X% per year).

In value terms, France ($X), the United States ($X) and Thailand ($X) were the largest groundnut oil suppliers to Colombia, together comprising X% of total imports.

In terms of the main suppliers, France, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 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 France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The country with the largest volume of groundnut oil consumption was China, comprising approx. 37% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, South Africa, twofold. The third position in this ranking was held by India, with a 7.2% share.

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

The countries with the highest volumes of production in 2022 were China, South Africa and India, together accounting for 59% of global production. Nigeria, Myanmar, Brazil, Sudan, Senegal, Guinea, the United States and Argentina lagged somewhat behind, together accounting for a further 25%.

What are the leading suppliers of groundnut oil to Colombia?

In value terms, France, the United States and Thailand $894) appeared to be the largest groundnut oil suppliers to Colombia, with a combined 99% share of total imports.

What are the leading importers of groundnut oil from Colombia?

In value terms, Belgium emerged as the key foreign market for groundnut oil exports from Colombia, comprising 75% of total exports. The second position in the ranking was held by Germany, with a 25% share of total exports.

What is the average export price for groundnut oil in Colombia?

The average groundnut oil export price stood at $34,671 per ton in 2022, increasing by 4,035% against the previous year.

What is the average import price for groundnut oil in Colombia?

In 2022, the average groundnut oil import price amounted to $4,772 per ton, growing by 55% against the previous year.

This report provides an in-depth analysis of the groundnut oil market in Colombia. 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 244 - Oil of Groundnuts

Country coverage:

Colombia

Data coverage:

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