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Colombia Palm Oil Exports Forecast by Oil World at Six-Year High
Colombia Palm Oil Exports Forecast by Oil World at Six-Year High
07/05/2014 (Bloomberg) - Colombia’s palm-oil exports will climb to a six-year high in 2014 after first-quarter production beat expectations, Oil World said.
Colombia is seen exporting 240,000 metric tons of the plant oil from 185,000 tons last year, while use in local biodiesel production may increase to 540,000 tons from 503,000 tons, the Hamburg-based industry analyst wrote.
Palm-oil exports from Central and South America’s five main producers were little changed in the five months through February at 500,000 tons from 504,000 tons, according to Oil World. Guatemala was the biggest shipper in the period, followed by Honduras, Ecuador, Costa Rica and Colombia.
In Colombia, “palm oil production exceeded expectations in January-March, raising export supplies despite higher domestic usage of palm oil as a feedstock for biodiesel,” the industry analyst wrote.
Colombian palm-oil production may rise to 1.15 million tons from 1.04 million tons, after first-quarter output was boosted by “considerably” higher yields in northern and central growing regions, according to the report. The country’s biodiesel production capacity is estimated at close to 600,000 tons, Oil World wrote.
Ecuador’s palm oil output is predicted to climb to 520,000 tons from 495,000 tons, still below 2012 due to the spread of spear rot disease to several palm plantations, according to Oil World. The country’s exports may increase to 225,000 tons from 213,000 tons.
“With domestic biodiesel production expanding and palm oil the major feedstock, there will be an only relatively moderate recovery of palm oil exports,” Oil World said.
Colombia is seen exporting 240,000 metric tons of the plant oil from 185,000 tons last year, while use in local biodiesel production may increase to 540,000 tons from 503,000 tons, the Hamburg-based industry analyst wrote.
Palm-oil exports from Central and South America’s five main producers were little changed in the five months through February at 500,000 tons from 504,000 tons, according to Oil World. Guatemala was the biggest shipper in the period, followed by Honduras, Ecuador, Costa Rica and Colombia.
In Colombia, “palm oil production exceeded expectations in January-March, raising export supplies despite higher domestic usage of palm oil as a feedstock for biodiesel,” the industry analyst wrote.
Colombian palm-oil production may rise to 1.15 million tons from 1.04 million tons, after first-quarter output was boosted by “considerably” higher yields in northern and central growing regions, according to the report. The country’s biodiesel production capacity is estimated at close to 600,000 tons, Oil World wrote.
Ecuador’s palm oil output is predicted to climb to 520,000 tons from 495,000 tons, still below 2012 due to the spread of spear rot disease to several palm plantations, according to Oil World. The country’s exports may increase to 225,000 tons from 213,000 tons.
“With domestic biodiesel production expanding and palm oil the major feedstock, there will be an only relatively moderate recovery of palm oil exports,” Oil World said.