Market research

Palm oil and fractions market in Central America

$Palm oil and fractions market in Central America$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"Central America" region includes following countries:

Belize

Costa Rica

El Salvador

Guatemala

Honduras

Mexico

Nicaragua

Panama

Earlier Report Observations

After the introduction of a national technical standard in Costa Rica in 2018, which improved transparency in palm fruit trading, the palm oil market volume in Central America grew to 1.6 million tonnes in 2019. However, over the next two years, a combination of drought, climate variability, and high international prices led to a decline in market volume to 1.5 million tonnes in 2020 and 1.5 million tonnes in 2021, as producers increased exports in response to favorable world market prices.

The trend reversed in 2022 when major investments in production capacity drove a recovery in market volume to 1.6 million tonnes. The construction of a $30 million agro-industrial complex in Panama and the launch of new production in Nicaragua with $44 million in investments expanded regional capabilities, while Panama's first RSPO-certified farm strengthened the focus on sustainable production.

By 2023, market volume had fallen to 1.4 million tonnes amid a drop in production and sustained high export levels.

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 Central America
  1. 5.1.1. Annual dynamics of production in Central America in kind, 2018-2023, K t
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K 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, K 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 Belize in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Belize 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 Belize in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Belize 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 Belize, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Belize 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 Belize in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Belize 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 Belize in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Belize 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 Belize, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Belize 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 Belize in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Belize 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 Belize in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Belize 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 Belize, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Belize 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 Belize in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Belize 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 Belize in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Belize 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 Belize, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Belize 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 Central America

In kind, 2017-2020, K 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 Central America has increased for the third consecutive year. In 2020, the region produced 2 305 K t of palm oil and fractions, marking a slight uptick of 1.4% compared to 2019. Over the period from 2017 to 2020, production grew by 17.8%, with a compound annual growth rate of 5.6%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	7.4%	8.2%	1.4%	5.6%

Source: SHEV.io

In value, 2017-2020, M $ US

Following a two-year decline, palm oil and fractions production in Central America rebounded. In 2020, the output was valued at 1 669 M $ US, representing a robust increase of 18.7% compared to 2019. From 2017 to 2020, production rose by 14.4%, with a compound annual growth rate of 4.6%. The lowest value was recorded in 2019 at 1 407 M $ US, while the largest decline occurred in 2018 at 2.5%.

Annual dynamics of production in Central America in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.5%)	(1.2%)	18.7%	4.6%

Source: SHEV.io

Exports palm oil and fractions from Central America

Exports in kind, K t

Central America exported 1 439 K t of palm oil and fractions in 2020, which is 27.6% higher than in 2019. Between 2017 and 2020, exports increased by 12.5%, equating to an annualized growth rate of 4.0%. The lowest volume was recorded in 2019 at 1 128 K t, with the largest decline also in 2019 at 13.7%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	2.3%	(13.7%)	27.6%	4.0%

Source: SHEV.io

From 2017 to 2020, exports of palm oil and fractions from Central America were not heavily concentrated. The Netherlands accounted for 28.5% of exports in kind, Spain for 11.8%, and Germany for 6.2%, with these three countries together capturing only 46.5% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

After a two-year decline, palm oil and fractions exports from Central America increased. In 2020, exports were recorded at 1 042 M $ US, up by 49.3% from 2019. Between 2017 and 2020, exports grew by 9.3%, equating to an annualized rate of 3.0%. The lowest value was in 2019 at 698 M $ US, with the largest decline also in 2019 at 21.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(7.1%)	(21.2%)	49.3%	3.0%

Source: SHEV.io

From 2017 to 2020, the partner portfolio for palm oil and fractions exports from Central America in value terms was quite broad. The Netherlands represented 28.8% of exports in value terms, Spain 11.0%, and Germany 6.1%, with these three countries together accounting for only 45.9% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports palm oil and fractions to Central America

Imports in kind, K t

There were noticeable fluctuations in market performance during this period. The lowest imports were recorded in 2017, with the highest in 2020, reflecting a 2.1-fold gap. In 2020, Central America imported 641 K t of palm oil and fractions, up by 39.6% compared to 2019. The largest decline occurred in 2019 at 20.9%, while the largest increase was in 2018 at 89.8%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	89.8%	(20.9%)	39.6%	28.0%

Source: SHEV.io

During 2017–2020, palm oil and fractions were supplied to Central America from many different markets. Even the largest destinations—Colombia, Indonesia, and Malaysia—together represented only 17.3% of total imports in kind.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

After a two-year drop, Central America's palm oil and fractions imports increased. In 2020, the region imported a total of 409 M $ US of palm oil and fractions, equivalent to an advance of 41.7% compared to 2019. Over the period from 2017 to 2020, imports grew by 3.8%, with a compound annual growth rate of 1.2%. The minimum value was recorded in 2019 at 409 M $ US, and the largest decline also occurred in 2019 at 16.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(12.6%)	(16.2%)	41.7%	1.2%

Source: SHEV.io

From 2017 to 2020, the partner structure for imports in value terms was balanced rather than concentrated. Colombia accounted for 11.6% of imports in value terms, Indonesia for 4.3%, and Malaysia for 2.0%, with these three countries jointly representing 17.9% of total flows, while many other countries accounted for the remaining 82.1%.

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

Source: SHEV.io

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

Source: SHEV.io