Coconut, palm kernel or babassu oil and fractions market in Colombia

Earlier Report Observations

From 2018 to 2023, the market volume for coconut, palm kernel, and babassu oil in Colombia declined significantly from 63.3 thousand tons to 31.5 thousand tons. This contraction was primarily driven by a sustained reduction in imports, which fell from 19.2 thousand tons to 6.3 thousand tons, coupled with a concurrent rise in exports from 81 thousand tons to 93.5 thousand tons over the same period. Domestic production remained relatively stable, fluctuating between 109.7 and 122.7 thousand tons.

In 2024, the market context was shaped by Colombia's effort to join the International Coconut Community to expand export opportunities for national producers. Simultaneously, local manufacturers emphasized extra virgin cold-pressed coconut oil without chemical additives, aligning with growing global consumer preference for natural and sustainable products.

Production coconut, palm kernel or babassu oil and fractions in Colombia

In kind, 2017-2020, K t

Between 2017 and 2020, Colombia ranked as the world's 9th largest producer of coconut, palm kernel, or babassu oil and fractions, placing it among the global leaders in this sector.

Top producers of coconut, palm kernel or babassu oil and fractions, 2017-2020

World map of production of coconut, palm kernel or babassu oil and fractions, 2017-2020

Colombia's production of coconut, palm kernel, or babassu oil and fractions has been declining for three consecutive years. In 2020, the country produced 109.7 thousand tonnes, which represents a 5.5% decrease compared to 2019. Over the 2017-2020 period, production fell by 18%, with an average annual decline of 6.4%.

Annual dynamics of production in Colombia in kind, 2017-2020, K t

Exports coconut, palm kernel or babassu oil and fractions from Colombia

Exports in kind, t

After increasing for two years, Colombia's exports of coconut, palm kernel, or babassu oil and fractions declined in 2020. The country exported 70 002 tonnes that year, marking a significant 19.2% drop from 2019. Between 2017 and 2020, exports overall grew by 2.8%, averaging a 0.9% annual increase. The peak export volume was recorded in 2019 at 86 645 tonnes, with the largest year-on-year rise occurring in 2018 at 18.9%.

Annual dynamics of product's exports from Colombia in kind, 2017-2020, t

From 2017 to 2020, three key markets—the Netherlands, Mexico, and Brazil—collectively accounted for 62.9% of Colombia's total exports of coconut, palm kernel, or babassu oil and fractions by volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Colombia in kind, 2017-2020

Exports in value, K $ US

Colombia's export value of coconut, palm kernel, or babassu oil and fractions fell for the second year in a row. In 2020, exports totaled 53 804 thousand US dollars, a 6.4% decrease from the previous year. Over the 2017-2020 period, export value dropped by 36.3%, with an average annual decline of 14.0%. The highest value was recorded in 2018 at 85 270 thousand US dollars. The most substantial decrease occurred in 2019 at 32.6%, while the largest increase was in 2018 at 0.9%.

Annual dynamics of product's exports from Colombia in value, 2017-2020, K $ US

During 2017-2020, the Netherlands, Mexico, and Brazil formed the core group of markets for Colombia's exports by value, representing 34.1%, 14.7%, and 14.2% of total export value, respectively. Together, these three countries accounted for 63.1% of all export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Colombia in value, 2017-2020

Imports coconut, palm kernel or babassu oil and fractions to Colombia

Imports in kind, t

Colombia's imports of coconut, palm kernel, or babassu oil and fractions decreased for the second consecutive year. In 2020, imports amounted to 10 000 tonnes, showing a sharp 36.2% decline compared to 2019. Over the 2017-2020 period, imports fell by 32.2%, with an average annual decrease of 12.1%. The peak import volume was in 2018 at 19 249 tonnes, with the largest year-on-year increase also occurring in 2018 at 51.0%.

Annual dynamics of product's imports to Colombia in kind, 2017-2020, t

From 2017 to 2020, Ecuador and Venezuela were the primary sources for Colombia's imports by volume, together making up 83.9% of total imports. Other countries had relatively smaller shares in comparison.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Colombia in kind, 2017-2020

Imports in value, K $ US

Colombia's import value of coconut, palm kernel, or babassu oil and fractions declined for the second year in a row. In 2020, imports stood at 8 951 thousand US dollars, a solid 11.6% drop from 2019. Between 2017 and 2020, import value decreased by 52.1%, averaging an annual decline of 21.7%. The highest value was recorded in 2018 at 19 168 thousand US dollars. The most significant decrease was in 2019 at 47.2%, while the largest increase occurred in 2018 at 2.6%.

Annual dynamics of product's imports to Colombia in value, 2017-2020, K $ US

Between 2017 and 2020, three main markets—Ecuador, Peru, and Venezuela—collectively absorbed 85.7% of Colombia's total import value for coconut, palm kernel, or babassu oil and fractions.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Colombia in value, 2017-2020