Colombia: Preserved Swine Meat Market 2024

Preserved Swine Meat Market Size in Colombia

The Colombian preserved swine meat market contracted markedly to $X in 2021, dropping by -16.2% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +34.8% against 2017 indices. As a result, consumption reached the peak level of $X, and then shrank rapidly in the following year.

Preserved Swine Meat Production in Colombia

In value terms, preserved swine meat production reduced sharply to $X in 2021 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +43.2% against 2017 indices. The pace of growth appeared the most rapid in 2020 with an increase of 66%. As a result, production reached the peak level of $X, and then reduced markedly in the following year.

Preserved Swine Meat Exports

Exports from Colombia

For the fourth year in a row, Colombia recorded growth in overseas shipments of prepared or preserved hams and cuts of swine meat, which increased by 74% to X kg in 2021. In general, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved swine meat exports rose to $X in 2021. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 317%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Panama (X kg) was the main destination for preserved swine meat exports from Colombia, accounting for a 98% share of total exports. It was followed by Aruba (X kg), with a 2.1% share of total exports.

From 2016 to 2021, the average annual rate of growth in terms of volume to Panama was relatively modest.

In value terms, Panama ($X) emerged as the key foreign market for prepared or preserved hams and cuts of swine meat exports from Colombia, comprising 100% of total exports. The second position in the ranking was held by Aruba ($X), with a 0.4% share of total exports.

From 2016 to 2021, the average annual rate of growth in terms of value to Panama was relatively modest.

Export Prices by Country

In 2021, the average preserved swine meat export price amounted to $X per ton, which is down by -40.6% against the previous year. Overall, the export price, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2020 an increase of 211% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Aruba totaled $X per ton.

From 2016 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (-86.8%).

Preserved Swine Meat Imports

Imports into Colombia

After two years of decline, supplies from abroad of prepared or preserved hams and cuts of swine meat increased by 58% to X tons in 2021. In general, imports, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2013 with an increase of 126%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved swine meat imports surged to $X in 2021. Overall, imports, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2013 with an increase of 115%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Spain (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of preserved swine meat imports to Colombia, with a combined 99% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +1.2%), while purchases for the other leaders experienced a decline.

In value terms, Spain ($X) constituted the largest supplier of prepared or preserved hams and cuts of swine meat to Colombia, comprising 70% of total imports. The second position in the ranking was taken by the United States ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.6% per year) and Italy (-16.0% per year).

Import Prices by Country

In 2021, the average preserved swine meat import price amounted to $X per ton, reducing by -23.2% against the previous year. Overall, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2020, and then declined markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :