Market research

Palm oil and fractions market in Caribbean

$Palm oil and fractions market in Caribbean$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Submission method: to your account

File format: docx, xlsx

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"Caribbean" region includes following countries:

Antigua and Barbuda

the Bahamas

Barbados

British Virgin Islands

Cayman Islands

Cuba

Dominica

Dominican Republic

Grenada

Guadeloupe

Haiti

Jamaica

Martinique

Montserrat

Curacao

Aruba

Saint Maarten (Dutch part)

Bonaire

Puerto Rico

Saint-Barthélemy

Saint Kitts and Nevis

Anguilla

Saint Lucia

Saint-Martin (French Part)

Saint Vincent and the Grenadines

Trinidad and Tobago

Turks and Caicos Islands

United States Virgin Islands

Earlier Report Observations

The palm oil market in the Caribbean remained stable at around 276,000 tons in 2018 and 275,000 tons in 2019. During this period, the French National Assembly's vote to exclude palm oil from biofuels began reshaping European demand patterns, though the regional market volume was largely unchanged. A significant increase to 305,000 tons occurred in 2020, marking a notable expansion in market size.

Market volume then contracted sharply to 260,000 tons in 2021. This decline coincided with the French Council of State's definitive ban on palm oil for biofuel use, which reduced global demand and contributed to lower import volumes into the Caribbean. The downward trend continued into 2022, with the market size falling further to 242,000 tons.

A recovery was observed in 2023, as the market expanded to 275,000 tons. This growth was supported by increasing demand from industrial segments such as soap, detergents, and lubricants, which continued to consume more palm oil. Looking at 2024, global factors including Indonesia's sustained biodiesel blending mandate and the upcoming EU deforestation regulation are shaping the market environment.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Caribbean
  1. 5.1.1. Annual dynamics of production in Caribbean in kind, 2018-2023, t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to Antigua and Barbuda in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Antigua and Barbuda by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Antigua and Barbuda in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Antigua and Barbuda by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Antigua and Barbuda, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Antigua and Barbuda by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to Antigua and Barbuda in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Antigua and Barbuda by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Antigua and Barbuda in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Antigua and Barbuda by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Antigua and Barbuda, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Antigua and Barbuda by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from Antigua and Barbuda in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Antigua and Barbuda by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Antigua and Barbuda in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Antigua and Barbuda by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Antigua and Barbuda, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Antigua and Barbuda by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from Antigua and Barbuda in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Antigua and Barbuda by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Antigua and Barbuda in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Antigua and Barbuda by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Antigua and Barbuda, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Antigua and Barbuda by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production palm oil and fractions in Caribbean

In kind, 2017-2020, t

Top producers of palm oil and fractions, 2017-2020

Source: SHEV.io

World map of production of palm oil and fractions, 2017-2020

Source: SHEV.io

Palm oil and fractions production in the Caribbean declined after two years of growth. In 2020, production reached 59 100 tonnes, marking a 4.2% decrease compared to 2019. Over the 2017-2020 period, production increased by 2.2%, with a compound annual growth rate of 0.7%. The highest production level was recorded in 2019 at 61 700 tonnes, which also saw the largest annual increase of 3.7%.

Annual dynamics of production in Caribbean in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	2.9%	3.7%	(4.2%)	0.7%

Source: SHEV.io

Exports palm oil and fractions from Caribbean

Exports in kind, K t

The market showed significant volatility during these years. Export levels fluctuated dramatically, with a 10.1-fold difference between the peak in 2018 and the low point in 2017. In 2020, Caribbean palm oil and fractions exports amounted to 1.0 thousand tonnes, representing a substantial 119.0% increase compared to the previous year. The highest export volume was recorded in 2018 at 2.9 thousand tonnes, which also experienced the largest annual increase of 910.1%. The most significant decline occurred in 2019 with an 83.8% drop.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	910.1%	(83.8%)	119.0%	53.2%

Source: SHEV.io

From 2017 to 2020, the United States served as the primary market for Caribbean palm oil and fractions exports, accounting for 15.4% of total export volume.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

Caribbean palm oil and fractions exports declined for the third consecutive year. In 2020, export value stood at 0.9 million US dollars, representing a sharp 55.3% decrease compared to the previous year. Over the 2017-2020 period, exports decreased by 85.1%, with a compound annual decline rate of 47.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(60.0%)	(16.6%)	(55.3%)	(47.0%)

Source: SHEV.io

During 2017-2020, the United States led as the top buyer of Caribbean palm oil and fractions in value terms, capturing 6.0% of total export flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports palm oil and fractions to Caribbean

Imports in kind, K t

Caribbean palm oil and fractions imports increased after two years of decline. In 2020, import volume reached approximately 247.2 thousand tonnes, representing a 15.4% increase compared to the previous year. Over the 2017-2020 period, imports grew by 10.1%, with a compound annual growth rate of 3.3%. The lowest import volume was recorded in 2019 at 214.2 thousand tonnes, which also saw the largest annual decline of 2.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.1%)	(2.6%)	15.4%	3.3%

Source: SHEV.io

From 2017 to 2020, Indonesia (67.6% of import volume), Colombia (8.5%), and Malaysia (8.0%) emerged as the main sources for Caribbean palm oil and fractions imports, collectively representing 84.1% of total import flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

Palm oil and fractions imports to the Caribbean increased after two years of decrease. In 2020, import value totaled 185.3 million US dollars, marking a 37.1% year-over-year increase. Over the 2017-2020 period, imports grew by 5.9%, with a compound annual growth rate of 1.9%. The lowest import value was recorded in 2019 at 135.1 million US dollars, which also experienced the largest annual decline of 13.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(11.2%)	(13.0%)	37.1%	1.9%

Source: SHEV.io

During 2017-2020, Indonesia (64.3% of import value), Malaysia (9.4%), and Colombia (8.7%) were the principal sources for Caribbean palm oil and fractions imports in value terms, jointly accounting for 82.4% of total import flows.

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

Source: SHEV.io

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

Source: SHEV.io