Colombia: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Colombia

The Colombian market for forage harvesters and other harvesting machines contracted to $X in 2021, waning by -14.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a pronounced slump. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from Colombia

In 2021, after two years of decline, there was decline in overseas shipments of forage harvesters and other harvesting machines, when their volume decreased by 0% to X units. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 533%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of forage harvesters and other harvesting machines totaled $X in 2021. Overall, exports saw a deep reduction. The growth pace was the most rapid in 2014 when exports increased by 625%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Ecuador (X units) was the main destination for exports of forage harvesters and other harvesting machines from Colombia, with a approx. 75% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Ecuador stood at -13.4%.

In value terms, Ecuador ($X) remains the key foreign market for forage harvesters and other harvesting machines exports from Colombia, comprising 54% of total exports. The second position in the ranking was held by Peru ($X), with an 8.6% share of total exports. It was followed by Guatemala, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ecuador stood at -15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-7.5% per year) and Guatemala (+1.6% per year).

Export Prices by Country

In 2021, the average export price for forage harvesters and other harvesting machines amounted to $X per unit, picking up by 3.4% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 27%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per unit), while the average price for exports to Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+30.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into Colombia

Imports of forage harvesters and other harvesting machines into Colombia reduced to X units in 2021, waning by -8.3% against 2020. Over the period under review, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 54% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of forage harvesters and other harvesting machines contracted significantly to $X in 2021. In general, imports showed a perceptible decrease. The growth pace was the most rapid in 2016 with an increase of 50% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X units) constituted the largest forage harvesters and other harvesting machines supplier to Colombia, accounting for a 76% share of total imports. Moreover, imports of forage harvesters and other harvesting machines from Brazil exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. Turkey (X units) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil amounted to +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+49.8% per year) and Turkey (+43.6% per year).

In value terms, Brazil ($X) constituted the largest supplier of forage harvesters and other harvesting machines to Colombia, comprising 88% of total imports. The second position in the ranking was taken by China ($X), with a 6.6% share of total imports. It was followed by Turkey, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+64.0% per year) and Turkey (+46.1% per year).

Import Prices by Country

In 2021, the average import price for forage harvesters and other harvesting machines amounted to $X per unit, waning by -8.1% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 23%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :