Colombia: Pimenta Pepper Market 2024

Pimenta Pepper Market Size in Colombia

The Colombian pimenta pepper market skyrocketed to $X in 2022, growing by 217% against the previous year. Over the period under review, consumption, however, saw a pronounced decline. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Pimenta Pepper Production in Colombia

In value terms, pimenta pepper production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced descent. The pace of growth was the most pronounced in 2013 with an increase of 7.5%. Pimenta pepper production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

In 2022, the average pimenta pepper yield in Colombia totaled less than X kg per ha, remaining constant against the previous year's figure. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The pimenta pepper harvested area in Colombia stood at less than X ha in 2022, remaining stable against the year before. In general, the harvested area recorded a relatively flat trend pattern.

Pimenta Pepper Exports

Exports from Colombia

In 2022, approx. X tons of pimenta pepper were exported from Colombia; with a decrease of -26.9% against the previous year's figure. In general, exports, however, recorded notable growth. The pace of growth appeared the most rapid in 2016 when exports increased by 134%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, pimenta pepper exports shrank to $X in 2022. Overall, total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 34% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

The United States (X tons) was the main destination for pimenta pepper exports from Colombia, accounting for a 81% share of total exports. Moreover, pimenta pepper exports to the United States exceeded the volume sent to the second major destination, Saudi Arabia (X tons), sixfold. The third position in this ranking was held by the UK (X tons), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-16.0% per year) and the UK (+38.4% per year).

In value terms, the United States ($X) remains the key foreign market for pimenta pepper exports from Colombia, comprising 84% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 8.9% share of total exports. It was followed by the UK, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-9.9% per year) and the UK (+20.6% per year).

Export Prices by Country

The average pimenta pepper export price stood at $X per ton in 2022, rising by 24% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible descent. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Saudi Arabia ($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 Saudi Arabia (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Pimenta Pepper Imports

Imports into Colombia

In 2022, the amount of pimenta pepper imported into Colombia surged to X tons, increasing by 20% compared with 2021 figures. Over the period under review, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 77% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, pimenta pepper imports surged to $X in 2022. Overall, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 60%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest pimenta pepper supplier to Colombia, with a 55% share of total imports. Moreover, pimenta pepper imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Peru (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+25.8% per year) and Peru (+7.6% per year).

In value terms, the United States ($X), China ($X) and Spain ($X) constituted the largest pimenta pepper suppliers to Colombia, together accounting for 80% of total imports. Peru, India, Mexico and Chile lagged somewhat behind, together accounting for a further 18%.

India, with a CAGR of +65.7%, saw the highest growth rate of the value of imports, among 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 pimenta pepper import price stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 22% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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