Colombia evaluates the potential of palm oil exports

The value of Colombian palm oil exports could rise significantly, to $800 million in 2022, thanks to strong international prices and stable production, the Palm Oil Producers Association has said, according to Nasdaq. According to Nicolás Pérez, president of the Fedepalma association, this figure will be much higher than last year's $500 million in palm oil sales abroad. “By July, we have surpassed exports for all of 2021 with $650 million and could be around $800 million at the end of the year,” Perez said. “The palm business last year and the first half of this year was really good after two very difficult years.” The price per tonne of palm oil is around $900, Perez said, well above the long-term average of $650 to $700, having peaked at $1,500 last year. The high prices are attributed to several international factors, including harvesting problems in Malaysia, events in Ukraine that hit sunflower oil production, and droughts in the US, Argentina and Brazil that reduced soybean ...