Colombia: Animal Feed Market 2024

Animal Feed Market Size in Colombia

The Colombian animal feed market was estimated at $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +4.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Animal Feed Production in Colombia

In value terms, animal feed production totaled $X in 2022 estimated in export price. In general, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 27% against the previous year. Animal feed production peaked at $X in 2020; afterwards, it flattened through to 2022.

Animal Feed Exports

Exports from Colombia

In 2022, after two years of growth, there was significant decline in overseas shipments of animal and pet feed, when their volume decreased by -10.6% to X tons. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 27%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, animal feed exports declined dramatically to $X in 2022. Overall, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +10.6% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44%. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

Ecuador (X tons) was the main destination for animal feed exports from Colombia, accounting for a 39% share of total exports. Moreover, animal feed exports to Ecuador exceeded the volume sent to the second major destination, Peru (X tons), twofold. Costa Rica (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador stood at +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+3.2% per year) and Costa Rica (+9.0% per year).

In value terms, Ecuador ($X) remains the key foreign market for animal and pet feed exports from Colombia, comprising 45% of total exports. The second position in the ranking was taken by Peru ($X), with a 19% share of total exports. It was followed by Panama, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value to Ecuador totaled +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+9.7% per year) and Panama (+3.8% per year).

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, with a decrease of -5.4% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The pace of growth appeared the most rapid in 2013 an increase of 31%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Colombia

In 2022, the amount of animal and pet feed imported into Colombia shrank to X tons, with a decrease of -5.2% against 2021 figures. In general, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 30%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, animal feed imports fell to $X in 2022. Over the period under review, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.7% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 32% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of animal feed to Colombia, accounting for a 64% share of total imports. Moreover, animal feed imports from the United States exceeded the figures recorded by the second-largest supplier, Peru (X tons), sevenfold. The third position in this ranking was taken by China (X tons), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (-2.5% per year) and China (-4.9% per year).

In value terms, the United States ($X) constituted the largest supplier of animal and pet feed to Colombia, comprising 42% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Brazil, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.0% per year) and Brazil (+15.1% per year).

Import Prices by Country

The average animal feed import price stood at $X per ton in 2022, declining by -2.3% against the previous year. Overall, the import price recorded a pronounced setback. The most prominent rate of growth was recorded in 2015 an increase of 8.7%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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