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

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

After three years of growth, the Colombian seafood meals and pellets market decreased by -2.2% to $X in 2021. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Colombia

In value terms, seafood meals and pellets production dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.0% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 61%. Over the period under review, production attained the maximum level at $X in 2020, and then declined in the following year.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Colombia

In 2021, approx. X tons of flours, meals and pellets of fish or of crustaceans and molluscs were exported from Colombia; rising by 34% compared with 2020 figures. In general, exports posted a mild expansion. The growth pace was the most rapid in 2018 when exports increased by 133%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, seafood meals and pellets exports soared to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 167%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for seafood meals and pellets exports from Colombia, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Ecuador stood at +1.7%.

In value terms, Ecuador ($X) also remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Colombia.

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

Export Prices by Country

The average seafood meals and pellets export price stood at $X per ton in 2021, falling by -1.6% against the previous year. Over the period under review, the export price showed a perceptible decrease. The pace of growth was the most pronounced in 2013 an increase of 15%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Ecuador.

From 2012 to 2021, the rate of growth in terms of prices for Ecuador amounted to -2.2% per year.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Colombia

Seafood meals and pellets imports into Colombia surged to X tons in 2021, jumping by 19% on 2020 figures. Over the period under review, imports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 27% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, seafood meals and pellets imports skyrocketed to $X in 2021. Overall, imports, however, showed a slight contraction. The growth pace was the most rapid in 2013 when imports increased by 29% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest seafood meals and pellets supplier to Colombia, accounting for a 78% share of total imports. Moreover, seafood meals and pellets imports from Ecuador exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume from Ecuador amounted to -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+10.1% per year) and Peru (-14.1% per year).

In value terms, Ecuador ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to Colombia, comprising 70% of total imports. The second position in the ranking was held by Free Zones ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Ecuador stood at -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+18.5% per year) and Peru (-17.6% per year).

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, almost unchanged from the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 22%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Free Zones ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Free Zones (+7.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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