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Colombia - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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Colombia: Refined Palm Oil Market Overview 2021

Refined Palm Oil Market Size in Colombia

The Colombian refined palm oil market expanded remarkably to $X in 2020, growing by X% against the previous year. Over the period under review, the total consumption indicated a strong increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. Refined palm oil consumption peaked in 2020 and is likely to see steady growth in the immediate term.

Refined Palm Oil Production in Colombia

In value terms, refined palm oil production rose markedly to $X in 2020 estimated in export prices. Overall, the total production indicated measured growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when the production volume increased by X% against the previous year. Refined palm oil production peaked at $X in 2016; however, from 2017 to 2020, production failed to regain the momentum.

Refined Palm Oil Exports

Exports from Colombia

In 2020, overseas shipments of refined palm oil decreased by -X% to X tonnes, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2008; however, from 2009 to 2020, exports stood at a somewhat lower figure.

In value terms, refined palm oil exports contracted rapidly to $X in 2020. In general, exports recorded a slight curtailment. The growth pace was the most rapid in 2008 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. from 2009 to 2020, the growth exports remained at a lower figure.

Exports by Country

Ecuador (X tonnes), Venezuela (X tonnes) and Chile (X tonnes) were the main destinations of refined palm oil exports from Colombia, together comprising X% of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador, while exports for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Venezuela ($X) and the U.S. ($X) constituted the largest markets for refined palm oil exported from Colombia worldwide, together comprising X% of total exports.

Among the main countries of destination, Ecuador 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

In 2020, the average refined palm oil export price amounted to $X per tonne, jumping by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the average export price increased by X% against the previous year. Over the period under review, average export prices hit record highs at $X per tonne in 2011; afterwards, it flattened through to 2020.

Average prices varied somewhat for the major foreign markets. In 2020, the highest prices were recorded for prices to Free Zones ($X per tonne) and Venezuela ($X per tonne), while the average price for exports to Brazil ($X per tonne) and Chile ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Brazil, while the prices for the other major destinations experienced more modest paces of growth.

Refined Palm Oil Imports

Imports into Colombia

In 2020, refined palm oil imports into Colombia stood at X tonnes, surging by X% compared with the previous year. Overall, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Imports peaked in 2020 and are likely to see gradual growth in the immediate term.

In value terms, refined palm oil imports surged to $X in 2020. In general, imports posted a resilient increase. The pace of growth appeared the most rapid in 2008 with an increase of X% year-to-year. Over the period under review, imports hit record highs at $X in 2011; however, from 2012 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Ecuador (X tonnes) was the main supplier of refined palm oil to Colombia, accounting for a approx. X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of volume from Ecuador totaled +X%.

In value terms, Ecuador ($X) constituted the largest supplier of refined palm oil to Colombia.

From 2007 to 2020, the average annual rate of growth in terms of value from Ecuador totaled +X%.

Import Prices by Country

The average refined palm oil import price stood at $X per tonne in 2020, remaining relatively unchanged against the previous year. Overall, import price indicated a slight increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, refined palm oil import price decreased by -X% against 2013 indices. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2011; however, from 2012 to 2020, import prices failed to regain the momentum.

As there is only one major supplying country, the average price level is determined by prices for Ecuador.

From 2007 to 2020, the rate of growth in terms of prices for Ecuador amounted to +X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined palm oil in the world?
+
China (9.4M tonnes) remains the largest refined palm oil consuming country worldwide, accounting for 14% of total volume. Moreover, refined palm oil consumption in China exceeded the figures recorded by the second-largest consumer, India (4.3M tonnes), twofold. The third position in this ranking was occupied by the U.S. (4.1M tonnes), with a 5.9% share.
What are the largest producers of refined palm oil in the world?
+
Indonesia (20M tonnes) constituted the country with the largest volume of refined palm oil production, comprising approx. 29% of total volume. Moreover, refined palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (10M tonnes), twofold. India (4M tonnes) ranked third in terms of total production with a 5.7% share.
What are the leading suppliers of refined palm oil to Colombia?
+
In value terms, Ecuador ($64M) constituted the largest supplier of refined palm oil to Colombia.
What are the leading importers of refined palm oil from Colombia?
+
In value terms, the largest markets for refined palm oil exported from Colombia were Ecuador ($8.2M), Venezuela ($5.9M) and the U.S. ($2.8M), together comprising 58% of total exports.
What is the average export price for refined palm oil in Colombia?
+
In 2020, the average refined palm oil export price amounted to $1,475 per tonne, surging by 24% against the previous year.
What is the average import price for refined palm oil in Colombia?
+
The average refined palm oil import price stood at $742 per tonne in 2020, almost unchanged from the previous year.

Product coverage:
• Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined palm 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 2025.


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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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