Colombia: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Colombia

The Colombian preparations for animal feeding market amounted to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Preparations for animal feeding consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Preparations Used In Animal Feeding in Colombia

In value terms, preparations for animal feeding production rose slightly to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant increase 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, production decreased by -2.0% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 42%. Preparations for animal feeding production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Preparations Used In Animal Feeding

Exports from Colombia

In 2022, exports of preparations used in animal feeding from Colombia reduced sharply to X tons, with a decrease of -19.1% compared with 2021. Over the period under review, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 58% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, preparations for animal feeding exports shrank notably to $X in 2022. In general, exports recorded a mild decrease. The pace of growth was the most pronounced in 2016 with an increase of 52% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for preparations for animal feeding exports from Colombia, accounting for a 41% share of total exports. Moreover, preparations for animal feeding exports to Ecuador exceeded the volume sent to the second major destination, Peru (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-7.9% per year) and the United States (+23.7% per year).

In value terms, Ecuador ($X) remains the key foreign market for preparations used in animal feeding exports from Colombia, comprising 42% of total exports. The second position in the ranking was taken by Peru ($X), with a 14% share of total exports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador stood at +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-6.0% per year) and the United States (+23.9% per year).

Export Prices by Country

In 2022, the average preparations for animal feeding export price amounted to $X per ton, reducing by -16.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The pace of growth was the most pronounced in 2013 when the average export price increased by 45%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then dropped dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Indonesia ($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 Chile (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Colombia

In 2022, supplies from abroad of preparations used in animal feeding decreased by -35.8% to X tons for the first time since 2015, thus ending a six-year rising trend. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 34%. Imports peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, preparations for animal feeding imports rose to $X in 2022. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 35%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest preparations for animal feeding supplier to Colombia, with a 54% share of total imports. Moreover, preparations for animal feeding imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was taken by Peru (X tons), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+24.7% per year) and Peru (-6.5% per year).

In value terms, the largest preparations for animal feeding suppliers to Colombia were the United States ($X), Brazil ($X) and China ($X), with a combined 72% share of total imports.

Brazil, with a CAGR of +26.0%, 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

In 2022, the average preparations for animal feeding import price amounted to $X per ton, jumping by 63% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preparations for animal feeding import price increased by +76.7% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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