Colombia: Pork Market 2024

Pork Market Size in Colombia

The Colombian pork market shrank to $X in 2022, with a decrease of -11.1% against the previous year. Overall, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +13.6% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Pork Production in Colombia

In value terms, pork production fell to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 27% against the previous year. Pork production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of pork in Colombia fell to X kg per head, flattening at 2021. In general, the yield, however, showed modest growth. The pace of growth appeared the most rapid in 2016 when the yield increased by 3.7%. Over the period under review, the average pork yield reached the peak level at X kg per head in 2021, and then declined in the following year.

In 2022, number of animals slaughtered for pork production in Colombia declined slightly to X heads, which is down by -1.9% on the year before. Overall, the total number of producing animals indicated tangible growth from 2012 to 2022: its figure increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, number of animals slaughtered for pork production increased by +65.8% against 2013 indices. The most prominent rate of growth was recorded in 2015 with an increase of 14% against the previous year. The number of animals slaughtered for pork production peaked at X heads in 2021, and then fell in the following year.

Pork Exports

Exports from Colombia

In 2022, the amount of pork exported from Colombia declined to X tons, with a decrease of -5.3% against the previous year's figure. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 274% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, pork exports dropped to $X in 2022. Overall, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 65%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for pork exports from Colombia, accounting for a 77% share of total exports. Moreover, pork exports to Spain exceeded the volume sent to the second major destination, the United States (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at +110.3%.

In value terms, Spain ($X) remains the key foreign market for pork exports from Colombia, comprising 78% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +113.5%.

Export Prices by Country

The average pork export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 63%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Pork Imports

Imports into Colombia

Pork imports into Colombia declined dramatically to X tons in 2022, reducing by -20.6% on the previous year's figure. Over the period under review, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 70% against the previous year. As a result, imports reached the peak of X tons, and then reduced dramatically in the following year.

In value terms, pork imports fell rapidly to $X in 2022. Overall, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 95% against the previous year. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of pork to Colombia, accounting for a 79% share of total imports. Moreover, pork imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X tons), eightfold. Canada (X tons) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+4.0% per year) and Canada (-0.5% per year).

In value terms, the United States ($X) constituted the largest supplier of pork to Colombia, comprising 80% of total imports. The second position in the ranking was held by Chile ($X), with an 11% share of total imports. It was followed by Canada, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+2.6% per year) and Canada (-3.5% per year).

Import Prices by Country

In 2022, the average pork import price amounted to $X per ton, falling by -4.6% against the previous year. Overall, the import price showed a slight descent. The growth pace was the most rapid in 2014 an increase of 16% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Chile ($X per ton) and the United States ($X per ton), while the price for Canada ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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