Report Update Apr 1, 2024

Cuba - Vegetable Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Vegetable Oils Market 2024

Vegetable Oils Market Size in Cuba

In 2021, the Cuban vegetable oils market increased by 2.3% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption showed a abrupt decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Vegetable Oils Production in Cuba

In value terms, vegetable oils production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt contraction. Vegetable oils production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

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Vegetable Oils Exports

Exports by Country

The Netherlands (X kg) was the main destination for vegetable oils exports from Cuba, accounting for a approx. 100% share of total exports.

From 2015 to 2015, the average annual rate of growth in terms of volume to the Netherlands was relatively modest.

From 2015 to 2015, the average annual growth rate of value to the Netherlands was relatively modest.

Vegetable Oils Imports

Imports into Cuba

In 2021, after two years of growth, there was significant decline in purchases abroad of vegetable fats and oils, when their volume decreased by -73.9% to X tons. Over the period under review, imports recorded a deep reduction. The pace of growth was the most pronounced in 2020 when imports increased by 498%. As a result, imports reached the peak of X tons, and then plummeted in the following year.

In value terms, vegetable oils imports contracted remarkably to $X in 2021. In general, imports recorded a drastic downturn. The growth pace was the most rapid in 2020 when imports increased by 596%. As a result, imports attained the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of vegetable oils to Cuba, with a 74% share of total imports. Moreover, vegetable oils imports from Mexico exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume from Mexico totaled -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-10.6% per year) and Spain (+171.3% per year).

In value terms, Mexico ($X) constituted the largest supplier of vegetable fats and oils to Cuba, comprising 77% of total imports. The second position in the ranking was taken by Ecuador ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Mexico amounted to -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-12.6% per year) and Spain (+148.0% per year).

Import Prices by Country

The average vegetable oils import price stood at $X per ton in 2021, jumping by 46% against the previous year. In general, the import price, however, saw a slight slump. The pace of growth appeared the most rapid in 2017 an increase of 53% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vegetable fats and oils in the world?

China remains the largest vegetable oils consuming country worldwide, comprising approx. 20% of total volume. Moreover, vegetable oils consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with a 5.4% share.

What are the largest producers of vegetable fats and oils in the world?

The countries with the highest volumes of production in 2021 were Malaysia, China and Indonesia, together comprising 47% of global production.

What are the leading suppliers of vegetable fats and oils to Cuba?

In value terms, Mexico constituted the largest supplier of vegetable fats and oils to Cuba, comprising 77% of total imports. The second position in the ranking was held by Ecuador, with a 13% share of total imports.

What is the average import price for vegetable fats and oils in Cuba?

In 2021, the average vegetable oils import price amounted to $1,779 per ton, jumping by 46% against the previous year.

This report provides an in-depth analysis of the vegetable oils market in Cuba. 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:

Cuba

Data coverage:

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