Colombia: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Colombia

For the ninth consecutive year, the Colombian fish meals and pellet market recorded decline in sales value, which decreased by -51.7% to $X in 2021. In general, consumption saw a precipitous descent. The growth pace was the most rapid in 2014 when the market value decreased by -4.1%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish in Colombia

In value terms, fish meals and pellet production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 4.6% against the previous year. As a result, production attained the peak level of $X, and then reduced in the following year.

Exports of Flours, Meals And Pellets Of Fish

Exports from Colombia

For the tenth consecutive year, Colombia recorded growth in overseas shipments of flours, meals and pellets of fish, which increased by 8.9% to X tons in 2021. In general, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 51%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, fish meals and pellet exports soared to $X in 2021. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 50%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

Guatemala (X tons) was the main destination for fish meals and pellet exports from Colombia, with a 82% share of total exports. Moreover, fish meals and pellet exports to Guatemala exceeded the volume sent to the second major destination, the United States (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Guatemala totaled +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+19.5% per year) and Jamaica (-22.0% per year).

In value terms, Guatemala ($X) remains the key foreign market for flours, meals and pellets of fish exports from Colombia, comprising 89% of total exports. The second position in the ranking was held by the United States ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Guatemala amounted to +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+22.1% per year) and Jamaica (-20.3% per year).

Export Prices by Country

In 2021, the average fish meals and pellet export price amounted to $X per ton, surging by 5.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.9%. The growth pace was the most rapid in 2015 when the average export price increased by 6.9%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Jamaica ($X per ton), while the average price for exports to the United States ($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 Guatemala (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish

Imports into Colombia

In 2021, the amount of flours, meals and pellets of fish imported into Colombia soared to X tons, rising by 45% compared with the previous year. Overall, imports saw a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 236%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, fish meals and pellet imports soared to $X in 2021. Over the period under review, imports continue to indicate mild growth. The pace of growth appeared the most rapid in 2018 with an increase of 95% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Norway (X tons) was the main fish meals and pellet supplier to Colombia, with a 92% share of total imports. Moreover, fish meals and pellet imports from Norway exceeded the figures recorded by the second-largest supplier, Peru (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Norway totaled +8.7%.

In value terms, Norway ($X) constituted the largest supplier of flours, meals and pellets of fish to Colombia, comprising 84% of total imports. The second position in the ranking was held by Peru ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Norway was relatively modest.

Import Prices by Country

The average fish meals and pellet import price stood at $X per ton in 2021, surging by 26% against the previous year. In general, the import price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2020 an increase of 50%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Peru ($X per ton), while the price for Norway totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-0.3%).

Source: IndexBox Platform

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