Colombia: Cheese Market 2024

Cheese Market Size in Colombia

In 2021, the Colombian cheese market increased by 2.2% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Cheese Production in Colombia

In value terms, cheese production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 +23.9% against 2018 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 28% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Cheese Exports

Exports from Colombia

For the third year in a row, Colombia recorded growth in shipments abroad of cheese, which increased by 26% to X tons in 2021. Overall, exports saw a resilient expansion. The growth pace was the most rapid in 2019 when exports increased by 49%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, cheese exports surged to $X in 2021. Over the period under review, exports posted strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 96%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for cheese exports from Colombia, with a 80% share of total exports. Moreover, cheese exports to the United States exceeded the volume sent to the second major destination, Aruba (X tons), more than tenfold. The third position in this ranking was taken by Curacao (X tons), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+68.4% per year) and Curacao (+29.0% per year).

In value terms, the United States ($X) remains the key foreign market for cheese exports from Colombia, comprising 83% of total exports. The second position in the ranking was taken by Chile ($X), with a 7.7% share of total exports. It was followed by Curacao, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+11.8% per year) and Curacao (+32.7% per year).

Export Prices by Country

In 2021, the average cheese export price amounted to $X per ton, leveling off at the previous year. Overall, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cheese export price increased by +33.7% against 2018 indices. The growth pace was the most rapid in 2016 an increase of 47% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into Colombia

In 2021, imports of cheese into Colombia skyrocketed to X tons, jumping by 32% on 2020. Overall, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 59%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, cheese imports soared to $X in 2021. Over the period under review, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2013 when imports increased by 67%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of cheese to Colombia, with a 52% share of total imports. Moreover, cheese imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was held by Argentina (X tons), with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+63.4% per year) and Argentina (+19.2% per year).

In value terms, the United States ($X) constituted the largest supplier of cheese to Colombia, comprising 61% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.8% share of total imports. It was followed by Spain, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+51.1% per year) and Spain (+15.5% per year).

Import Prices by Country

The average cheese import price stood at $X per ton in 2021, reducing by -10.2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 8.3%. The import price peaked at $X per ton in 2020, and then declined in the following year.

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 Spain ($X per ton), while the price for Germany ($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 (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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