LATAM (Latin America) Palm Oil Market: By Application: Food Products, Consumer Products, Energy; By Region: Colombia, Ecuador, Brazil, Mexico, Guatemala, Others; SWOT Analysis; Historical Price Trends (2014-2018) and Forecast (2019-2024); Competitive Landscape & Supplier Analysis; Cost Analysis


LATAM Palm Oil Market Key Insights:

  • LATAM Palm Oil Market Analysis
  • Market Outlook 2019-2024
  • Price Trends
  • Trade Data Analysis
  • Production Breakup by Region
  • Consumption Breakup by Region
  • Competitive Landscape
  • Capacity Addition & Plant Turnarounds
  • Mergers & Acquisitions

 

Market Outlook

The LATAM palm oil market attained almost 4 million metric tons in 2018. The region accounts for 6% of the global production. Although its share is comparatively smaller than the 85% to 90% share of Indonesia and Malaysia, LATAM’s projected robust growth of its palm oil production will contribute to the growth of the global market in the forecast period. The global market is expected to grow at a CAGR of almost 1.9% in the forecast period of 2019-2024.

Colombia is the fourth largest producer of palm oil in the world, just behind Indonesia, Malaysia, and Thailand and is the leading producer in the LATAM region. The market in Colombia accounts for 6% of the country’s total GDP.  Its production in the country suffered in 2016 due to the climatic conditions caused by the El Nino phenomenon. However, the production recovered in 2017, witnessing a 42% increase from 2016. In 2017, 1.6 million metric tons of crude palm oil was produced in the country.  A significant proportion of the palm oil produced in the country is exported. More than half the exports by Colombia is bound towards Europe, especially to countries like Spain and Germany In 2017, palm oil-related exports reportedly generated USD 414 million in export revenues.

Ecuador is also a significant producer in the LATAM market, falling just behind Colombia, Guatemala, and Honduras. The average annual output of CPO (Crude Palm Oil) in Ecuador is 0.7 million metric tons, which is grown in around 2,80,000 hectares of land. It is the largest exporter of CPO in South America, exporting 60% of its production of CPO.

Properties and Application

Palm oil is a superior quality oil which originated in West Africa and is derived from the oil palm tree. It is primarily grown in tropical countries. It is chiefly used for cooking in emerging economies. Over the years it has found diverse applications in both food and non-food sectors. It is finding increasing use in the home and personal care sector as a component of lipsticks, soaps, detergents, skin-care products, and other cosmetic products. Biofuel is another significant emerging application sector for palm oil.

The application sectors for palm oil can be broadly divided into:

  • Foods
  • Consumer Products
  • Energy

The EMR report looks into the production and consumption of palm oil in LATAM countries like Colombia, Ecuador, Brazil, Mexico, and Guatemala, among others.

Market Analysis

While oil palm and rapeseed are both major oil crops with significant productivity levels, oil palm is five times more productive in its oil yield than rapeseed. Globally, palm oil finds widespread application in food products such as cooking oil, shortenings, and margarine as well as a feedstock for biodiesel. Nearly 70% of the global palm oil production is used in food applications, with personal care applications accounting for 25% and biodiesel accounting for 5%. Palm oil’s application as a biodiesel feedstock is expected to witness a significant growth in the coming decade with the rising demand for alternative energy sources.

Globally, the market is expected to be aided by the rising population and growing income levels. In food applications, palm oil is commonly found in cooking and fry oils, vegetable ghee, and non-dairy creamers. With increasing health consciousness among the people, its use for food applications is expected to see growth.

In LATAM, the expansion of palm oil crops supported by various government schemes is driving the LATAM market, especially in countries like Ecuador, Colombia, Honduras, and Peru.  Government subsidies programs encouraging the substitution of illicit crops like cocaine and poppy is providing a further impetus for the increase in the palm oil crops. The projected increase in food consumption in the region will also aid the market growth. Green policies by governments in the LATAM region promoting the use of biodiesel will further propel the market forward. In Colombia, palm oil forms an essential component in the country’s biodiesel industry which is required by law to account for 10% of the total automobile fuel sold in the country. Industrial infrastructure for the processing of palm oil is being consolidated in the region to increase production for exports and domestic demands.

Competitive Landscape

The report analyses the following key players in the LATAM palm oil market looking into their market share, capacity, and latest developments like mergers and acquisitions, expansions of capacity, and plant turnarounds:

  • Wilmar International Ltd.
  • Cargill, Incorporated
  • Bunge Limited
  • Archer Daniels Midland Company
  • Reforestadora de Palmas del Petén SA (REPSA)
  • Others

The EMR report gives an in-depth analysis of the market by providing a SWOT as well as Porter’s five forces analysis.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Players
    3.3    Supply Market Changes
    3.4    Key Demand Drives
    3.5    Market Opportunities and Threats
4    Global Vegetable Oil Market Overview
5    Global Palm Oil Market Outlook

    5.1    Chart: Historical Consumption (2014-2018) & Forecast (2019-2024)
    5.2    Chart: Historical Production (2014-2018) & Forecast (2019-2024)
    5.3    Chart: Breakup by Application
        5.3.1    Food Products
        5.3.2    Consumer Products    
        5.3.3    Energy
    5.4    Figure: Historical Production (2014-2018) and Forecast (2019-2024)
        5.4.1    Asia Pacific
        5.4.2    North America
        5.4.3    Europe
        5.4.4    Middle East and Africa
        5.4.5    Latin America
    5.5    Figure: Historical Consumption (2014-2018) and Forecast (2019-2024)
        5.5.1    Asia Pacific
        5.5.2    North America
        5.5.3    Europe
        5.5.4    Middle East and Africa
        5.5.5    Latin America
6    LATAM Vegetable Oil Market Overview
7    LATAM Palm Oil Market Outlook
8    LATAM Palm Oil Market 
    8.1    LATAM Palm Oil Market Analysis

        8.1.1    Chart: Historical Consumption (2014-2018) & Forecast (2019-2024)
        8.1.2    Chart: Historical Production (2014-2018) & Forecast (2019-2024)
        8.1.3    Chart: Breakup by Application
            8.1.3.1    Food Products
            8.1.3.2    Consumer Products    
            8.1.3.3    Energy
        8.1.4    Figure: Historical Production (2014-2018) and Forecast (2019-2024)
            8.1.4.1    Colombia
            8.1.4.2    Ecuador
            8.1.4.3    Brazil
            8.1.4.4    Mexico
            8.1.4.5    Guatemala
            8.1.4.6    Others
        8.1.5    Figure: Historical Consumption (2014-2018) and Forecast (2019-2024)
            8.1.5.1    Colombia
            8.1.5.2    Ecuador
            8.1.5.3    Brazil
            8.1.5.4    Mexico
            8.1.5.5    Guatemala
            8.1.5.6    Others
    8.2    SWOT Analysis
        8.2.1    Overview
        8.2.2    Strengths
        8.2.3    Weaknesses 
        8.2.4    Opportunities
        8.2.5    Threats
    8.3    Value Chain Analysis
    8.4    Porter’s Five Forces Analysis

        8.4.1    Overview
        8.4.2    Buyer’s Power
        8.4.3    Supplier’s power
        8.4.4    New Entrants
        8.4.5    Degree of Rivalry
        8.4.6    Substitutes
    8.5    Global (HS Code-1511) Trade Analysis (2018) 
        8.5.1    Major Exporting Countries by Value & Volume
        8.5.2    Major Importing Countries by Value & Volume
    8.6    LATAM Palm Oil Market Price Analysis: Historical Price Trends (2014-2018) and Forecast (2019-2024)
        8.6.1    Colombia
        8.6.2    Ecuador
        8.6.3    Brazil
        8.6.4    Mexico
        8.6.5    Guatemala
        8.6.6    Argentina
9    Competitive Landscape & Supplier Analysis
    9.1    Wilmar International Ltd.
    9.2    Cargill, Incorporated
    9.3    Bunge Limited
    9.4    Archer Daniels Midland Company
    9.5    Reforestadora de Palmas del Petén SA (REPSA)
    9.6    Others
10    Events and Developments

Additional Customisations Available:

11    Manufacturing Process
    11.1     Detailed Process Flow
    11.2     Operations Involved
    11.3     Mass Balance
12    Cost Analysis
    12.1    Land, Location and Site Development
    12.2    Construction
    12.3    Plant Machinery
    12.4    Cost of Raw Material
    12.5    Packaging
    12.6    Transportation
    12.7    Utilities
    12.8    Manpower
    12.9    Other Capital Investment

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