Report Update Nov 1, 2024

Colombia - Lard - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Lard Market 2024

Lard Market Size in Colombia

The Colombian lard market amounted to $X in 2022, approximately mirroring the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.1% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Lard Production in Colombia

In value terms, lard production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 110%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Lard Exports

Exports from Colombia

In 2022, shipments abroad of lard increased by 277% to X kg for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, faced a precipitous slump. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, lard exports skyrocketed to $X in 2022. In general, exports, however, faced a significant contraction. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Aruba (X kg) was the main destination for lard exports from Colombia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Aruba amounted to -27.9%.

In value terms, Aruba ($X) also remains the key foreign market for lard exports from Colombia.

From 2012 to 2022, the average annual growth rate of value to Aruba stood at -24.3%.

Export Prices by Country

In 2022, the average lard export price amounted to $X per ton, with a decrease of -16.8% against the previous year. In general, the export price, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 85% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then declined markedly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Aruba amounted to +5.0% per year.

Lard Imports

Imports into Colombia

In 2022, after four years of growth, there was significant decline in overseas purchases of lard, when their volume decreased by -31% to X tons. In general, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 164% against the previous year. As a result, imports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, lard imports declined dramatically to $X in 2022. Over the period under review, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 260% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, Canada (X tons) was the main lard supplier to Colombia, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada stood at +14.3%.

In value terms, Canada ($X) constituted the largest supplier of lard to Colombia.

From 2012 to 2022, the average annual growth rate of value from Canada amounted to +9.6%.

Import Prices by Country

In 2022, the average lard import price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 when the average import price increased by 61%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to -4.1% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lard in the world?

The country with the largest volume of lard consumption was China, accounting for 32% of total volume. Moreover, lard consumption in China exceeded the figures recorded by the second-largest consumer, Germany, fourfold. Brazil ranked third in terms of total consumption with an 8.5% share.

What are the largest producers of lard in the world?

China constituted the country with the largest volume of lard production, accounting for 32% of total volume. Moreover, lard production in China exceeded the figures recorded by the second-largest producer, Germany, fourfold. The third position in this ranking was occupied by Brazil, with an 8.4% share.

What are the leading suppliers of lard to Colombia?

In value terms, Canada constituted the largest supplier of lard to Colombia.

What are the leading importers of lard from Colombia?

In value terms, Aruba remains the key foreign market for lard exports from Colombia.

What is the average export price for lard in Colombia?

In 2021, the average lard export price amounted to $1,445 per ton, declining by -1.5% against the previous year.

What is the average import price for lard in Colombia?

The average lard import price stood at $1,211 per ton in 2021, growing by 21% against the previous year.

This report provides an in-depth analysis of the lard market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1043 - Lard

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023