Colombia: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Colombia

The Colombian refined coconut oil market contracted slightly to $X in 2022, remaining stable against the previous year. Overall, consumption saw a relatively flat trend pattern. Refined coconut oil consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Refined Coconut Oil Production in Colombia

In value terms, refined coconut oil production totaled $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Refined Coconut Oil Exports

Exports from Colombia

Refined coconut oil exports from Colombia declined notably to X kg in 2022, shrinking by X% against the previous year. In general, exports saw a precipitous descent. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined coconut oil exports fell sharply to $X in 2022. Over the period under review, exports saw a dramatic contraction. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for refined coconut oil exports from Colombia, with a X% share of total exports. Moreover, refined coconut oil exports to the United States exceeded the volume sent to the second major destination, Curacao (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%.

In value terms, the largest markets for refined coconut oil exported from Colombia were the United States ($X) and Curacao ($X).

Curacao, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average refined coconut oil export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price showed a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Curacao ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 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 more modest paces of growth.

Refined Coconut Oil Imports

Imports into Colombia

In 2022, approx. X tons of refined coconut (copra) oil were imported into Colombia; waning by X% on the previous year. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, refined coconut oil imports plummeted to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Indonesia (X tons), India (X tons) and the United States (X tons) were the main suppliers of refined coconut oil imports to Colombia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined coconut oil suppliers to Colombia were India ($X), the United States ($X) and Mexico ($X), together accounting for X% of total imports. Indonesia, Sweden, the Philippines, France, Vietnam, Brazil and Germany lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined coconut oil import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2022: its price 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. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

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 the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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