Colombia: Cereal Market 2024

Cereal Market Size in Colombia

The Colombian cereal market soared to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cereal Production in Colombia

In value terms, cereal production dropped modestly to $X in 2022 estimated in export price. Overall, production saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. Cereal production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of cereals in Colombia fell slightly to X tons per ha, approximately reflecting 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the yield increased by X% against the previous year. Over the period under review, the average cereal yield hit record highs at X tons per ha in 2021, and then dropped modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the cereal harvested area in Colombia reached X ha, stabilizing at the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a mild contraction. The growth pace was the most rapid in 2016 when the harvested area increased by X%. The cereal harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Cereal Exports

Exports from Colombia

After three years of growth, overseas shipments of cereals decreased by X% to X tons in 2022. In general, exports faced a abrupt contraction. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, cereal exports shrank remarkably to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X tons), Peru (X tons) and the United States (X tons) were the main destinations of cereal exports from Colombia, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) emerged as the key foreign market for cereals exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports. It was followed by Venezuela, with an X% share.

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

Export Prices by Country

In 2022, the average cereal export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Aruba ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cereal Imports

Imports into Colombia

In 2022, supplies from abroad of cereals increased by X% to X tons, rising for the seventh consecutive year after two years of decline. Overall, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, cereal imports soared to $X in 2022. Over the period under review, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Brazil (X tons) and Argentina (X tons) were the main suppliers of cereal imports to Colombia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cereal suppliers to Colombia were the United States ($X), Brazil ($X) and Argentina ($X), together accounting for X% of total imports.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cereal import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and the United States ($X per ton), while the price for Brazil ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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