Colombia: Non-Wheat Cereal Pellets Market 2024

Non-Wheat Cereal Pellets Market Size in Colombia

In 2021, the Colombian non-wheat cereal pellets market decreased by -1.1% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.2% against 2016 indices. Non-wheat cereal pellets consumption peaked at $X in 2020, and then shrank in the following year.

Non-Wheat Cereal Pellets Production in Colombia

In value terms, non-wheat cereal pellets production contracted to $X in 2021 estimated in export price. Overall, the total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +75.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 61%. Non-wheat cereal pellets production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Non-Wheat Cereal Pellets Exports

Exports from Colombia

In 2021, non-wheat cereal pellets exports from Colombia fell to X tons, which is down by -5.9% compared with 2020 figures. Overall, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 4% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-wheat cereal pellets exports declined dramatically to $X in 2021. In general, exports showed a precipitous decline. The smallest decline of -20% was in 2020. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X tons) was the main destination for non-wheat cereal pellets exports from Colombia, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Venezuela totaled -15.5%.

In value terms, Venezuela ($X) also remains the key foreign market for cereal pellets (excluding wheat) exports from Colombia.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela totaled -27.9%.

Export Prices by Country

The average non-wheat cereal pellets export price stood at $X per ton in 2021, falling by -15% against the previous year. Overall, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 an increase of 32%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Venezuela.

From 2012 to 2021, the rate of growth in terms of prices for Venezuela amounted to -14.7% per year.

Non-Wheat Cereal Pellets Imports

Imports into Colombia

In 2021, imports of cereal pellets (excluding wheat) into Colombia stood at X tons, approximately reflecting the previous year. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, non-wheat cereal pellets imports rose rapidly to $X in 2021. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 13%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest non-wheat cereal pellets supplier to Colombia, with a 40% share of total imports. Moreover, non-wheat cereal pellets imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +80.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+69.7% per year) and Mexico (-17.5% per year).

In value terms, Spain ($X) constituted the largest supplier of cereal pellets (excluding wheat) to Colombia, comprising 45% of total imports. The second position in the ranking was held by Mexico ($X), with a 5.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +37.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-19.3% per year) and the United States (+40.3% per year).

Import Prices by Country

The average non-wheat cereal pellets import price stood at $X per ton in 2021, picking up by 9.2% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 14% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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