Market research

Palm oil and fractions market in Venezuela

$Palm oil and fractions market in Venezuela$

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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Earlier Report Observations

The palm oil market in Venezuela has long depended on imports to meet domestic demand, with the southern Lake Maracaibo region responsible for 70% of the country's oil supply. From 2018 to 2020, the overall market volume grew from 129.9 thousand tons to 138.9 thousand tons. This expansion was driven by a rise in domestic production from 85.9 thousand tons to 114.0 thousand tons, which occurred alongside a steady reduction in imports.

After a sharp contraction in 2021 to 101.9 thousand tons, the market partially recovered to 114.6 thousand tons in 2022. By 2023, palm oil had become a key agricultural business due to its ability to thrive in acidic soils where other crops fail, supporting a production level of 103.3 thousand tons. Market volume reached 112.7 thousand tons that year, reflecting a stabilized demand while imports fell to a low of 9.4 thousand tons.

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 Venezuela
  1. 5.1.1. Annual dynamics of production in Venezuela in kind, 2018-2023, K t
  2. 5.1.2. Annual dynamics of production in Venezuela in value, 2018-2023, $ US
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. Exports
1. 6.1. Exports (Direct Data*)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, t
    1. 6.1.2.1. Annual dynamics of product's exports from Venezuela in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's exports in kind from Venezuela by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Venezuela in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Venezuela by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Venezuela, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's exports from Venezuela by countries, 2018-2024, $ US/t
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, t
    1. 6.2.2.1. Annual dynamics of product's exports from Venezuela in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's exports in kind from Venezuela by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Venezuela in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Venezuela by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Venezuela, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's exports from Venezuela by countries, 2018-2024, $ US/t
7. Imports
1. 7.1. Imports (Direct Data*)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, t
    1. 7.1.2.1. Annual dynamics of product's imports to Venezuela in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's imports in kind to Venezuela by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Venezuela in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Venezuela by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Venezuela, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's imports to Venezuela by countries, 2018-2024, $ US/t
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, t
    1. 7.2.2.1. Annual dynamics of product's imports to Venezuela in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's imports in kind to Venezuela by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Venezuela in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Venezuela by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Venezuela, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's imports to Venezuela by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ 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 Venezuela

In kind, 2017-2020, K t

Venezuela ranked 26th globally in palm oil and fractions production from 2017 to 2020.

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

Venezuela's palm oil and fractions production grew for the second year in a row. In 2020, the country produced 114.0 K t, an 18.0% increase from the previous year. Over the 2017–2020 period, production rose by 14.9%, averaging a 4.7% annual growth rate. The lowest output was in 2018 at 85.9 K t, which also saw the largest decline of 13.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(13.4%)	12.5%	18.0%	4.7%

Source: SHEV.io

Exports palm oil and fractions from Venezuela

Exports in kind, t

Export data shows irregular changes, reflecting a volatile market. Exports peaked in 2019 at 1 609 t and hit their lowest point in 2018, with a 25-fold difference between these years. In 2020, Venezuela's cross-border shipments of palm oil and fractions totaled 758 t, a 52.9% drop from the previous year. The largest increase occurred in 2019, surging by 2 364.1%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	2 364.1%	(52.9%)	-

Source: SHEV.io

From 2017 to 2020, Venezuela's palm oil and fractions exports were almost entirely directed to Colombia, which accounted for 100.0% of total exports in volume.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, K $ US

Venezuela's palm oil and fractions exports in value terms grew for the second consecutive year. In 2020, exports reached 473 K $ US, up 44.2% from 2019. Between 2018 and 2020, exports surged by 3 930%, with a compound annual growth rate of 242.8%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	2 695.4%	44.2%	-

Source: SHEV.io

During 2017–2020, Venezuela's palm oil and fractions exports in value were highly concentrated, with Colombia making up 100.0% of the total.

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

Source: SHEV.io

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

Source: SHEV.io

Imports palm oil and fractions to Venezuela

Imports in kind, t

Venezuela's imports of palm oil and fractions in volume declined for the second year in a row. In 2020, imports totaled 25 655 t, a sharp 30.9% decrease from the previous year. Over the 2017–2020 period, imports fell by 31%, with an average annual decline of 11.7%. The highest volume was in 2018 at 44 028 t, which also saw the largest increase of 18.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	18.4%	(15.7%)	(30.9%)	(11.7%)

Source: SHEV.io

From 2017 to 2020, the main suppliers of palm oil and fractions to Venezuela in volume were Guatemala (46.9%), Colombia (30.7%), and Ecuador (18.8%). Together, these three countries accounted for 96.4% of total imports.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, K $ US

Venezuela's imports of palm oil and fractions in value terms decreased for the second consecutive year. In 2020, imports amounted to 19 500 K $ US, down 25.0% from the previous year. Between 2017 and 2020, imports dropped by 28.6%, averaging a 10.6% annual decline. The peak value was in 2018 at 29 767 K $ US, which also recorded the largest increase of 8.9%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	8.9%	(12.6%)	(25.0%)	(10.6%)

Source: SHEV.io

Throughout 2017–2020, the key partners for Venezuela's palm oil and fractions imports in value were Colombia (40.6%), Guatemala (35.8%), and Ecuador (20.9%). Collectively, they represented 97.4% 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 Venezuela in value, 2017-2020

Source: SHEV.io