Colombia: Malt Market 2024

Malt Market Size in Colombia

After four years of growth, the Colombian malt market decreased by -3.9% to $X in 2022. The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Malt Production in Colombia

In value terms, malt production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 51% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Malt Exports

Exports from Colombia

In 2022, approx. X tons of malt were exported from Colombia; with an increase of 9.1% on 2021. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 2,090,260%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, malt exports totaled $X in 2022. Over the period under review, exports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 748,640%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons), Ecuador (X tons) and Guatemala (X tons) were the main destinations of malt exports from Colombia, with a combined 83% share of total exports. Panama, the Dominican Republic and Saint Vincent and the Grenadines lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Saint Vincent and the Grenadines (with a CAGR of +167.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) remains the key foreign market for malt exports from Colombia, comprising 45% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 22% share of total exports. It was followed by Ecuador, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Peru totaled +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+38.9% per year) and Ecuador (-8.3% per year).

Export Prices by Country

In 2022, the average malt export price amounted to $X per ton, which is down by -8.3% against the previous year. In general, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 91% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Malt Imports

Imports into Colombia

After four years of growth, overseas purchases of malt decreased by -28.9% to X tons in 2022. Over the period under review, imports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 137% against the previous year. As a result, imports reached the peak of X tons, and then shrank notably in the following year.

In value terms, malt imports shrank rapidly to $X in 2022. In general, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 120% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

The Netherlands (X tons), Canada (X tons) and Germany (X tons) were the main suppliers of malt imports to Colombia, with a combined 36% share of total imports. Spain, France, Chile, Brazil and the Czech Republic lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +91.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest malt suppliers to Colombia were the Netherlands ($X), Germany ($X) and Canada ($X), with a combined 33% share of total imports. France, Spain, Chile, Brazil and the Czech Republic lagged somewhat behind, together accounting for a further 14%.

Spain, with a CAGR of +73.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average malt import price stood at $X per ton in 2022, growing by 2.3% against the previous year. Over the period under review, the import price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2017 when the average import price increased by 6.9%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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