Colombia: Dried Prune Market 2024

Dried Prune Market Size in Colombia

The Colombian dried prune market stood at $X in 2022, surging by 6.3% against the previous year. Overall, consumption recorded a relatively flat trend pattern. 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.

Dried Prune Production in Colombia

In value terms, dried prune production rose remarkably to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 24% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Dried Prune Exports

Exports from Colombia

In 2022, shipments abroad of dried prunes decreased by -19.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 3,739%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, dried prune exports reduced to $X in 2022. In general, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2020 when exports increased by 5,280%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Curacao (X tons) was the main destination for dried prune exports from Colombia, accounting for a 78% share of total exports. Moreover, dried prune exports to Curacao exceeded the volume sent to the second major destination, Panama (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Curacao amounted to +51.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-15.9% per year) and Costa Rica (+49.4% per year).

In value terms, Curacao ($X), Panama ($X) and Costa Rica ($X) were the largest markets for dried prune exported from Colombia worldwide, with a combined 100% share of total exports.

Curacao, with a CAGR of +39.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average dried prune export price stood at $X per ton in 2022, increasing by 12% against the previous year. Overall, the export price, however, saw a pronounced decline. The growth pace was the most rapid in 2020 when the average export price increased by 40%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Curacao ($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 Panama (+3.6%), while the prices for the other major destinations experienced a decline.

Dried Prune Imports

Imports into Colombia

Dried prune imports into Colombia reached X tons in 2022, growing by 3.5% compared with the previous year. Overall, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 43% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, dried prune imports declined to $X in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +8.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 40% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of dried prune to Colombia, accounting for a 79% share of total imports. Moreover, dried prune imports from Chile exceeded the figures recorded by the second-largest supplier, Argentina (X tons), sevenfold. The United States (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from Chile stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+7.4% per year) and the United States (+5.3% per year).

In value terms, Chile ($X) constituted the largest supplier of dried prunes to Colombia, comprising 81% of total imports. The second position in the ranking was taken by Argentina ($X), with an 8.2% share of total imports. It was followed by the United States, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+7.9% per year) and the United States (+3.9% per year).

Import Prices by Country

In 2022, the average dried prune import price amounted to $X per ton, declining by -17.1% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dried prune import price increased by +27.2% against 2016 indices. The growth pace was the most rapid in 2021 when the average import price increased by 50% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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