Colombia has enough palm oil production to meet local demand

The restriction on exports of vegetable oils in the world market has generated uncertainty in the market and high volatility in international prices, despite which Colombia has enough palm oil production to meet local demand. During the first months of 2022, both the supply and demand of oils and fats have been impacted. On the supply side, the weather affected various crops, lowering, for example, soybean harvest estimates in Argentina and Brazil. Similarly, the conflict between Russia and Ukraine, producers of 60% of sunflower oil in the world, impacted the world supply of oils. However, the latest forecasts indicate that global supply is showing signs of recovery and planting intentions in the United States favor oilseeds. This was explained by Nicolás Pérez Marulanda, executive president of Fedepalma. In the framework of this panorama, the countries that produce oils and fats have adopted public policies that in many cases have aggravated the supply situation and have pushed ...