Guatemalan palm oil export price increased by 43% during February 2022 compared to the same period last year

During February 2022, the Guatemalan palm oil export price was $1.17/kg, an increase of 43% compared to $0.82/kg in February 2021. Compared to last year, the export value also increased by 140%. This huge increase was mainly due to high international palm oil prices from increasing demand in countries that are looking for substitutes for sunflower oil, whose production and exports are being affected by the current conflict between Russia and Ukraine. Guatemalan exporters expect to keep increasing their exports during 2022 and diversify their export markets.