Colombia: Beef Market 2024

Beef Market Size in Colombia

In 2021, the Colombian beef market decreased by -1.9% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption saw a abrupt descent. The pace of growth appeared the most rapid in 2017 when the market value increased by 4% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Beef Production in Colombia

In value terms, beef production reached $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2017 when the production volume increased by 7.8%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

The average yield of beef (cattle meat) in Colombia stood at X kg per head in 2021, remaining stable against the year before. The yield figure increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the yield increased by 2.3% against the previous year. The beef yield peaked in 2021 and is expected to retain growth in the near future.

In 2021, the number of animals slaughtered for beef production in Colombia rose to X heads, increasing by 1.5% on the previous year. In general, the number of producing animals, however, continues to indicate a pronounced decline. Over the period under review, this number reached the maximum level at X heads in 2012; however, from 2013 to 2021, producing animals stood at a somewhat lower figure.

Beef Exports

Exports from Colombia

In 2021, approx. X tons of beef (cattle meat) were exported from Colombia; growing by 66% compared with 2020 figures. Overall, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 107%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, beef exports soared to $X in 2021. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 106% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X tons), Jordan (X tons) and Egypt (X tons) were the main destinations of beef exports from Colombia, together comprising 64% of total exports. Saudi Arabia, the United Arab Emirates, Libya, Hong Kong SAR, Venezuela, Peru and Curacao lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +123.6%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Jordan ($X) and Egypt ($X) appeared to be the largest markets for beef exported from Colombia worldwide, with a combined 62% share of total exports. Saudi Arabia, the United Arab Emirates, Libya, Hong Kong SAR, Venezuela, Peru and Curacao lagged somewhat behind, together comprising a further 34%.

Saudi Arabia, with a CAGR of +185.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average beef export price amounted to $X per ton, jumping by 24% against the previous year. Overall, the export price, however, recorded a noticeable reduction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+27.7%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Colombia

Beef imports into Colombia skyrocketed to X tons in 2021, rising by 38% compared with 2020 figures. Over the period under review, imports saw a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 137% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, beef imports surged to $X in 2021. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 95% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest beef supplier to Colombia, with a 79% share of total imports. Moreover, beef imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), tenfold. Chile (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +37.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+21.5% per year) and Chile (+102.1% per year).

In value terms, the United States ($X) constituted the largest supplier of beef (cattle meat) to Colombia, comprising 79% of total imports. The second position in the ranking was held by Argentina ($X), with an 8.7% share of total imports. It was followed by Chile, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +35.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+15.1% per year) and Chile (+68.3% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2021, standing approx. at the previous year. Overall, the import price, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2014 an increase of 18%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Uruguay ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :