After in May 2020 in the context of the pandemic caused by Covid-19, Central American imports of petroleum oils dropped to a historic low at $242 million, in the following months purchases recovered and in December amounted to $540 million.
Figures from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"].
After in May 2020, in the context of the pandemic caused by covid-19, Central American imports of oiling fell to a historic low of $242 million, in the following months an incipient recovery was evidenced.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"].
From January to June 2020, exports from Central America of palm oil and its derivatives totaled $336 million, an amount barely 1% higher than that reported for the same period in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graph"]
From January to June 2020, companies in the region imported $2.82 billion worth of oil, 45% less than in the same period in 2019, a drop reported in the context of the health and economic crisis caused by the covid-19 outbreak.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graph"]
During the first seven months of 2020, exports of palm oil and its derivatives from Central America to Mexican companies totaled $138 million, 22% more than the same period in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graph"]
From January to March 2020, companies in the region bought oil abroad for $2.009 billion, 14% less than in the same period in 2019, due to the drop in imports in all Central American markets.
Figures from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Based on data inferred from the digital behavior of consumers, it is estimated that in the countries of the region more than 120 thousand people show interest in lubricants, and most of them are between 19 and 35 years old.
A study of the interests and preferences of consumers in Central America, prepared by the Trade Intelligence Unit of CentralAmericaData, gives interesting results on the preferences and tastes of people in various products, services and activities.
From January to September 2019, companies in the region bought oil abroad for Ch$7,392 million, 3% less than in the same period in 2018, mainly due to the drop in imports from Panama and Nicaragua.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
During 2019 the consumption of diesel, gasoline and gas, products with the highest participation in the oil bill, reached Ch$2,719 million, a 0.8% lower amount than that reported in 2018.
Figures from the General Direction of Hydrocarbons (DGH) detail that between 2018 and 2019 the Guatemalan oil bill was reduced by $21 million, from $2.719 million to $2.041 million.
During the first eleven months of 2019, exports of palm oil and its fractions from Central America to Mexican companies totaled $192 million, 25% more than the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption "Click to interact with graphics"]
By approving the changes to the Special Law for Exploration and Exploitation of Hydrocarbons, the country's oil sector contractors are exonerated from all taxes.
The amendments stipulate that transfers of agreed contracts shall not pay taxes during the exploration period, and the direct or indirect assignment or transfer of all or part of the rights derived under any modality for the activity of exploration and exploitation of hydrocarbons shall be exempt from any capital gains tax.
Between January and June of this year, the value of imported petroleum oils in the region totaled $5.105 million, and 48% was bought by companies in Guatemala and Panama.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Honduran palm growers do not see improvements in their business in the short term, since they foresee that during 2020 international oil prices will remain low.
Some time ago, businessmen of the sector have been alerting of the crisis they are suffering, because in the first days of July of this year the National Federation of Associations of Oil Palm Producers and Extractors of Honduras (FENAPALMAH) and the Industrial Association of Palm Oil Producers of Honduras (AIPAH), declared themselves in national emergency.
Alyonca is investing $16 million in the rehabilitation of wells and is preparing to start oil production in Alta Verapaz, Guatemala.
The oil field from which the company will produce is in the Municipality of Fray Bartolome de las Casas, and the plans of the company are to attend the local industry and, in the future, make a new investment to refine the product that is extracted.
In recent years, the average price of palm oil exports from Central America has reported a downward trend, from $1.13 per kilo in May 2012 to $0.53 per kilo in March 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]