Colombia is not a producer of soy oil and thus it relies completely on imports. As such, Colombia is suffering as a result of Russia's war in Ukraine which has created a global shortage of soil oil, with there being no expectations that the war will end in 2022.
Olive oil is anticipated to thrive in the forecast period, with increasing penetration of private label and low-priced small brands making these products more accessible to a wider audience. This trend is being supported by the strong increase in the supply of bottled olive oil in Colombia through large companies like, for example, Alimentos y Vinos de Espana.
Black seals must be implemented into labelling by 16 December 2022 for those products with a high sugar, salt or fat content, but the main retailers expect that those companies affected by the change will adopt the seals before this date. This will likely have a negative impact on sales of palm oil, soy oil and other edible oil, as perceptions of these products will likely change as the black seals draw attention to their unhealthy qualities.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.See All of Our Definitions
This report originates from Passport, our Edible Oils research and analysis database.
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