The Colombia palm oil market attained a volume of 1.81 MMT in 2024. The industry is expected to grow at a CAGR of 1.70% during the forecast period of 2025-2034 to attain a volume of 2.14 MMT by 2034.

In 2023, domestic market sales accounted for ** percent of the total sales of palm oil in Colombia, while the export markets accounted for ** percent. Edible oils and fats accounted for almost half of the total sales of palm oil in the country that year. That year, the crude palm oil production value reached over *** million metric tons, and the area of oil palm cultivated surpassed *** thousand hectares.

The Colombian crude palm oil market amounted to $1.4B in 2024, increasing by 8.1% against the previous year. In general, consumption, however, showed a temperate expansion. Crude palm oil consumption peaked at $1.6B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

In 2024, Colombia produced about **** million metric tons of crude palm oil. This represents a decrease of almost seven percent compared to the previous year.

In 2023, Brazil was the leading country of destination for exports of Colombian palm oil, with a value of over *** million U.S. dollars. Ranking second was Mexico, with ** million U.S. dollars. That year, the export value of palm oil decreased by ** percent compared to 2022.

The Latin America palm oil market attained a value of USD 4.47 Billion as of 2024 and is anticipated to grow at a CAGR of 5.20% during the forecast period of 2025 to 2034. The Latin America palm oil industry is spurred on by growing biodiesel production as nations such as Colombia and Brazil increasingly require blending with biofuels, leading to increased demand for sustainable palm oil as a substitute energy resource. The market is thus expected to reach a value of nearly USD 7.42 Billion by 2034.

In 2023, Colombia was the leading country in palm oil production in Latin America, with an estimated production of *** million metric tons. Guatemala followed, with ******* metric tons, nearly half as much as Colombia. That year, Colombia was not only the largest Latin American producer of palm oil, but also one of the main palm oil consumer markets in the region.

Palm Kernel Oil Price in Colombia - 2022. Find the latest marketing data on the IndexBox platform.

In 2023, the amount of crude palm oil exported from Colombia rose rapidly to 378K tons, increasing by 5.3% compared with 2022 figures.

Production of crude palm oil in Colombia attained a volume of **** million metric tons in 2018. In that year, the eastern region had the largest production of the country, with approximately *** thousand metric tons, followed by the central region with *** thousand metric tons.

The Colombian refined palm oil market stood at $721M in 2024, rising by 5.1% against the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2024: its value increased at an average annual rate of +4.3% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -2.4% against 2022 indices.

Colombia is the leading country on consumption of palm oil in Latin America. In 2021, nearly *** thousand metric tons of crude palm oil were sold to the edible oils and fats industry in the country, up from approximately *** thousand metric tons sold a year earlier.

In 2023, overseas shipments of refined palm oil increased by 19% to 91K tons for the first time since 2020, thus ending a two-year declining trend.

The Colombian palm kernel oil market rose sharply to $35M in 2024, increasing by 5.9% against the previous year. Overall, consumption showed a slight slump. As a result, consumption attained the peak level of $101M. From 2018 to 2024, the growth of the market remained at a somewhat lower figure.

This statistic shows the number of employees in the oil palm industry in Colombia in 2016, broken down by education level. In that year, there were around ***** people with an university degree working in the oil palm sector in Colombia.

The global production of palm oil was around ***** million metric tons in the marketing year 2023/24, decreasing from approximately ***** million metric tons in 2022/23. In that period, Indonesia and Malaysia were the leading exporters of palm oil worldwide. Leading palm oil producers Palm oil grows mainly in Asia, Africa and Latin America. Indonesia and Malaysia are the main palm oil producers, followed by Thailand, Colombia, and Nigeria. Unsurprisingly, Indonesia and Malaysia have the largest certified area planted with palm trees. In 2017, the Roundtable on Sustainable Palm Oil (RSPO) certified area planted with palm trees in Indonesia reached *** million hectares, up from **** million hectares in 2016. Global market Import volume of palm oil has increased worldwide over the past few years. According to the World Bank, in 2021, the average price for palm oil stood at ***** nominal U.S. dollars per metric ton. It is expected to drop to about ***** nominal U.S. dollars per metric ton by 2024.

In 2025, after two years of growth, there was significant decline in consumption of palm kernel and babassu oil, when its volume decreased by -17.3% to 44K tons. The size of the palm kernel oil market in Colombia reached $84M in 2025, surging by 12% against the previous year.

In 2024/25, Indonesian production volume of palm oil amounted to **** million metric tons. This is more than twice as much as the production volume in Malaysia, which had the second-highest production levels worldwide in that year. Palm oil is an edible vegetable oil commonly used for food products, detergents, and cosmetics. Palm oil production worldwide The leading palm oil export markets for Malaysia are India, the European Union, and China. Almost ********** of Malaysia's palm oil exports go to these three markets. Colombia, which ranks ****** in total palm oil production worldwide, produces nearly twice as much as any other Latin American palm oil-producing country. In Nigeria, the production of palm oil has continuously increased during the last decade. The world’s leading palm oil production company, based on market capitalization, is Wilmar International Limited. The Singapore-based agricultural company's palm oil market capitalization amounted to approximately *** billion U.S. dollars in 2022. Palm oil in Indonesia Between 2013 and 2019, Indonesia’s palm oil production increased from around 28 million metric tons to about 47 million metric tons. Production levels have remained relatively steady in recent years at around 45 million metric tons. A breakdown of the palm oil production by Indonesian provinces shows that about one-fifth of Indonesia’s total palm oil production is manufactured in the province of Riau, which is more than in any other Indonesian province. Indonesian exports of palm oil amounted to approximately 26 million metric tons in 2022. India is by far the leading recipient of Indonesian palm oil. The share of Indonesia’s crude palm oil exports going to India amounted to more than three-quarters of its total crude palm oil exports.

In 2021, Malaysia (X tons) represented the main exporter of crude palm oil, achieving 42% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a 22% share, followed by Papua New Guinea (6.2%), Guatemala (6.2%) and Thailand (5%). The following exporters - Colombia (X tons) and Honduras (X tons) - each amounted to a 6.3% share of total exports.

Statistics illustrates consumption, production, prices, and trade of Palm Kernel Oil in Colombia from 2007 to 2024.