Colombia: Frozen Potato Market 2024

Frozen Potato Market Size in Colombia

The Colombian frozen potato market surged to $X in 2021, with an increase of 66% 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). Overall, consumption showed a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Potato Exports

Exports from Colombia

In 2021, overseas shipments of frozen potatoes increased by 30% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2017 when exports increased by 71% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, frozen potato exports soared to $X in 2021. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 46%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for frozen potato exports from Colombia, with a 79% share of total exports. Moreover, frozen potato exports to the United States exceeded the volume sent to the second major destination, Spain (X tons), more than tenfold. Chile (X tons) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+36.5% per year) and Chile (+64.0% per year).

In value terms, the United States ($X) remains the key foreign market for frozen potatoes exports from Colombia, comprising 72% of total exports. The second position in the ranking was taken by Spain ($X), with a 6.8% share of total exports. It was followed by Chile, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+30.4% per year) and Chile (+64.9% per year).

Export Prices by Country

In 2021, the average frozen potato export price amounted to $X per ton, falling by -10% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 24%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to the United States ($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 Chile (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Potato Imports

Imports into Colombia

In 2021, imports of frozen potatoes into Colombia skyrocketed to X tons, picking up by 64% against the previous year's figure. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen potato imports soared to $X in 2021. In general, imports enjoyed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of frozen potato to Colombia, accounting for a 68% share of total imports. Moreover, frozen potato imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium amounted to +42.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+8.1% per year) and the United States (-1.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of frozen potatoes to Colombia, comprising 61% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 21% share of total imports. It was followed by the United States, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium stood at +43.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+9.2% per year) and the United States (+1.3% per year).

Import Prices by Country

In 2021, the average frozen potato import price amounted to $X per ton, remaining stable against the previous year. In general, the import price, however, saw a slight contraction. The growth pace was the most rapid in 2013 an increase of 12% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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