Palm-kernel oilcake market in Latin America and the Caribbean

Earlier Report Observations

The palm-kernel oilcake market in Latin America and the Caribbean reached 627 thousand tons in 2018, bolstered by a five-year 60% increase in crude palm oil production in Colombia, which expanded the volume of agro-industrial residues available. After a contraction to 580 thousand tons in 2019—a period that saw research into using palm solid waste for renewable energy in Colombia’s Cesar department—the market recovered to 623 thousand tons in 2020. This rebound was directly tied to rising demand for palm oil in cosmetics, organic foods and biodiesel, which elevated processing activity and the resulting oilcake output.

Market expansion continued from 2021 to 2023, with volumes climbing to 679 thousand tons. Technological advances in extraction efficiency and steady demand for refined palm oil from India helped sustain production. The broader adoption of RSPO sustainability certifications from 2022 onward, coupled with improved waste-management practices, enhanced the utilization of solid residues. Despite global supply constraints from aging plantations and climate impacts in Southeast Asia, mandatory biodiesel blending policies in Indonesia maintained strong palm oil demand, supporting oilcake production in the Latin American region.

Production palm-kernel oilcake in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of palm-kernel oilcake, 2017-2020

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

In Latin America and the Caribbean, palm-kernel oilcake production reached 581.2 K t in 2020, marking a 6.3% increase from the previous year. Production had previously hit its lowest point in 2019 at 546.8 K t, following a peak of 596.6 K t in 2018. The most significant decline occurred in 2019, with an 8.4% drop.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Exports palm-kernel oilcake from Latin America and the Caribbean

Exports in kind, t

Exports of palm-kernel oilcake from Latin America and the Caribbean have grown for the third year in a row. In 2020, exports totaled 19 465 t, up 8.9% from the prior year. From 2017 to 2020, exports increased by 25.1%, averaging an annual growth rate of 7.8%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

Between 2017 and 2020, the United Kingdom and the United States were the primary destinations for palm-kernel oilcake exports from Latin America and the Caribbean, together accounting for 8.7% of total export volumes.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

After two years of growth, the value of palm-kernel oilcake exports from Latin America and the Caribbean declined. In 2020, exports were valued at 3 500 K $ US, remaining stable compared to the previous year. Over the period from 2017 to 2020, export value increased by 50.8%, with an average annual rate of 14.7%. The highest value was recorded in 2019 at 3 517 K $ US, following the largest increase of 37.2% in 2018.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the main markets for palm-kernel oilcake exports from Latin America and the Caribbean in value terms were the United Kingdom (26.8% of exports), the United States (1.5%), and Spain (0.6%). Together, these three countries accounted for 28.8% of total export value.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports palm-kernel oilcake to Latin America and the Caribbean

Imports in kind, t

Imports of palm-kernel oilcake into Latin America and the Caribbean have risen for the second consecutive year. In 2020, imports amounted to 61 081 t, a significant increase of 20.8% over the past year. However, from 2017 to 2020, overall imports decreased by 11.6%, with a compound annual growth rate of -4.0%. The lowest import volume was in 2018 at 46 788 t, which also saw the largest decline of 32.3%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

During 2017–2020, Free Zones and the United States were the main suppliers of palm-kernel oilcake to Latin America and the Caribbean, together making up 13.3% of total import volumes.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

Following a two-year decrease, the value of palm-kernel oilcake imports into Latin America and the Caribbean increased. In 2020, imports totaled 8 087 K $ US, showing a substantial rise of 14.8% from the previous year. Between 2017 and 2020, import value fell by 8.5%, averaging an annual decline of 2.9%. The lowest value was in 2019 at 7 047 K $ US, after the largest drop of 16.1% in 2018.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the key suppliers of palm-kernel oilcake to Latin America and the Caribbean in value terms were Free Zones and the United States, with a combined share of 13.9% of total import value.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020