Colombia | Palm oil: A promising bet for the future

Summary

Despite the challenges facing the sector, products like palm oil hold significant potential, not only due to their high productivity and capacity to drive development but also because Colombia possesses substantial advantages for its production.

Key points

• Key points:
• Over the past two decades, palm oil cultivation in Colombia has grown at an average annual rate of 6.3%, reaching a production of 2 million tons of oil in 2023, positioning the country as the fourth-largest global producer and the leading producer in the Americas.
• Palm oil production is concentrated in tropical zones, placing Colombia in a privileged position to further expand. Additionally, the crop's productivity is remarkably high, yielding 2.6 tons of oil per hectare compared to other oilseeds that barely reach 0.6 tons.
• Palm oil is the leading vegetable oil in global consumption, accounting for approximately 42% of worldwide demand. Furthermore, it is a versatile product used in a wide range of items, including margarine, ice cream, cosmetics, and biofuels.
• From a social perspective, palm oil cultivation offers multiple benefits. It has become a driver of development in several regions, contributing to the creation of formal, high-quality jobs. Moreover, Colombia has achieved an expansion of cultivation with minimal deforestation impacts and continues to advance in the environmental certification of its cultivated areas.

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