Colombia: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Colombia

In 2022, after two years of growth, there was significant decline in the Colombian plant-growth regulators market, when its value decreased by -5.7% to $X. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Plant-Growth Regulators Production in Colombia

In value terms, plant-growth regulators production contracted to $X in 2022 estimated in export price. In general, production saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Plant-Growth Regulators Exports

Exports from Colombia

In 2022, overseas shipments of plant-growth regulators decreased by -18.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a mild expansion. The pace of growth was the most pronounced in 2013 with an increase of 65% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plant-growth regulators exports contracted dramatically to $X in 2022. In general, exports, however, showed a modest increase. The most prominent rate of growth was recorded in 2013 with an increase of 71%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for plant-growth regulators exports from Colombia, with a 37% share of total exports. Moreover, plant-growth regulators exports to Mexico exceeded the volume sent to the second major destination, Honduras (X tons), fourfold. Guatemala (X tons) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico stood at +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+8.6% per year) and Guatemala (+5.2% per year).

In value terms, Mexico ($X) remains the key foreign market for plant-growth regulators exports from Colombia, comprising 31% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 13% share of total exports. It was followed by Peru, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mexico amounted to +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-3.0% per year) and Peru (+1.0% per year).

Export Prices by Country

In 2022, the average plant-growth regulators export price amounted to $X per ton, approximately equating the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 14%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to El Salvador ($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 Peru (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports into Colombia

After two years of growth, supplies from abroad of plant-growth regulators decreased by -5.7% to X tons in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.1% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 38%. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, plant-growth regulators imports declined to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 30%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

China (X tons), Free Zones (X tons) and Vietnam (X tons) were the main suppliers of plant-growth regulators imports to Colombia, with a combined 87% share of total imports. India, Mexico, Guatemala and the United States lagged somewhat behind, together comprising a further 9.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Guatemala (with a CAGR of +36.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of plant-growth regulators to Colombia, comprising 51% of total imports. The second position in the ranking was held by Free Zones ($X), with a 20% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+5.8% per year) and the United States (+0.9% per year).

Import Prices by Country

In 2022, the average plant-growth regulators import price amounted to $X per ton, declining by -5.7% against the previous year. Overall, the import price saw a mild downturn. The pace of growth appeared the most rapid in 2021 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform