Colombia: Cheese And Curd Market 2024

Cheese And Curd Market Size in Colombia

The Colombian cheese and curd market dropped to $X in 2022, shrinking by -2.1% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Cheese And Curd Production in Colombia

In value terms, cheese and curd production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 44%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Cheese And Curd Exports

Exports from Colombia

In 2022, after three years of growth, there was significant decline in overseas shipments of cheese and curd, when their volume decreased by -9.8% to X tons. In general, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 57%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, cheese and curd exports reduced to $X in 2022. Over the period under review, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 102% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X tons) was the main destination for cheese and curd exports from Colombia, with a 85% share of total exports. Moreover, cheese and curd exports to the United States exceeded the volume sent to the second major destination, Aruba (X tons), more than tenfold. Curacao (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+60.6% per year) and Curacao (+29.4% per year).

In value terms, the United States ($X) remains the key foreign market for cheese and curd exports from Colombia, comprising 77% of total exports. The second position in the ranking was taken by Chile ($X), with a 13% share of total exports. It was followed by Curacao, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+5.5% per year) and Curacao (+29.2% per year).

Export Prices by Country

In 2022, the average cheese and curd export price amounted to $X per ton, standing approx. at the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 37%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Aruba ($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 Curacao (-0.1%), while the prices for the other major destinations experienced a decline.

Cheese And Curd Imports

Imports into Colombia

In 2022, the amount of cheese and curd imported into Colombia fell to X tons, which is down by -12.2% against the previous year. Overall, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 59%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, cheese and curd imports dropped to $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 67% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of cheese and curd to Colombia, accounting for a 56% share of total imports. Moreover, cheese and curd imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+57.6% per year) and Italy (+29.6% per year).

In value terms, the United States ($X) constituted the largest supplier of cheese and curd to Colombia, comprising 62% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by Italy, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+49.2% per year) and Italy (+19.2% per year).

Import Prices by Country

The average cheese and curd import price stood at $X per ton in 2022, increasing by 4.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2014 an increase of 8.3%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 Spain ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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