Palm-kernel oilcake market in Colombia

Earlier Report Observations

After reaching 168 thousand tons in 2018, Colombia's palm-kernel oilcake market volume fell sharply to 97 thousand tons in 2019. Higher average production costs compared to leading palm oil countries kept output subdued near 96 thousand tons in 2020. A strong recovery to 147 thousand tons occurred in 2021, driven by the industry's shift in viewing oilcake from a problematic by-product to a quality product with a broad market, encouraging greater processing and utilization.

The market gradually declined to 139 thousand tons by 2023. This was primarily due to the persistent spread of bud rot disease in key growing regions like Magdalena, which reduced fresh fruit bunch supply and consequently limited oilcake production. During this period, the sector continued to focus on circular bioeconomy initiatives, aiming to reuse solid biomass and effluents from palm processing, which supported the overall valorization of residues including oilcake.

Production palm-kernel oilcake in Colombia

In kind, 2017-2020, K t

Colombia ranked 5th globally in palm-kernel oilcake production from 2017 to 2020.

Top producers of palm-kernel oilcake, 2017-2020

World map of production of palm-kernel oilcake, 2017-2020

Colombia's palm-kernel oilcake production declined for the second consecutive year. In 2020, the country produced 98.9 K t, reflecting a slight reduction of 2.8% year-over-year. Between 2017 and 2020, production decreased by 42.8%, equating to an annualized rate of 17.0%. The maximum production was recorded in 2018 at 173.3 K t. The largest decline occurred in 2019, with a drop of 41.3%, while the largest increase was in 2018, at 0.3%.

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

In value, 2017-2020, K $ US

Colombia's palm-kernel oilcake production volume declined for the second consecutive year. In 2020, the output was valued at 22 318 K $ US, representing a moderate decline of 4.7% compared to the previous year. Between 2017 and 2020, production decreased by 36.8%, equating to an annualized rate of 14.2%. The maximum value was recorded in 2018 at 38 857 K $ US. The largest decline occurred in 2019, with a drop of 39.7%, while the largest increase was in 2018, at 10.0%.

Annual dynamics of production in Colombia in value, 2017-2020, K $ US

Exports palm-kernel oilcake from Colombia

Exports in kind, t

The market exhibited an unstable trend throughout the period. Exports varied significantly, with a low in 2017 and a high in 2018, showing a 1.9-fold difference. In 2020, Colombia exported 2 789 t of palm-kernel oilcake, which is 42.0% lower than the previous year. The maximum value was recorded in 2018 at 5 046 t, with the largest increase that year at 85.4%.

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

From 2017 to 2020, the United Kingdom was the key and nearly exclusive market for Colombia's palm-kernel oilcake exports in kind, accounting for 97.0% of total flows.

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

The data reveals irregular changes, indicating a volatile market environment. Export volumes peaked in 2018 and bottomed out in 2017, with a top-to-bottom ratio of 2 times. In 2020, palm-kernel oilcake shipments from Colombia totaled 630 K $ US, down by 43.1% year-over-year. The maximum value was recorded in 2018 at 1 131 K $ US, with the largest increase that year at 103.4%.

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

Throughout 2017 to 2020, exports in value terms remained heavily concentrated on the United Kingdom, which accounted for 97.6% of total 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 palm-kernel oilcake to Colombia

The industry report concludes that there were no imports of palm-kernel oilcake in Colombia from 2017 to 2020.