Colombia: Preserved Turkey Market 2024

Preserved Turkey Market Size in Colombia

In 2021, the Colombian preserved turkey market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Preserved Turkey Production in Colombia

In value terms, preserved turkey production expanded notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 26%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Preserved Turkey Exports

Exports from Colombia

After two years of decline, shipments abroad of prepared or preserved meat or offal of turkeys decreased by 0% to X kg in 2018. Overall, exports continue to indicate a sharp decline. The smallest decline of 99.9% was in 2016. The exports peaked at X tons in 2012; however, from 2013 to 2018, the exports remained at a lower figure.

In value terms, preserved turkey exports amounted to $X in 2018. Over the period under review, exports saw a significant curtailment. The smallest decline of 99.9% was in 2016. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2018, the exports stood at a somewhat lower figure.

Exports by Country

Bahamas (X kg) was the main destination for preserved turkey exports from Colombia, with a approx. 100% share of total exports.

From 2012 to 2018, the average annual growth rate of volume to Bahamas was relatively modest.

From 2012 to 2018, the average annual rate of growth in terms of value to Bahamas was relatively modest.

Export Prices by Country

The average preserved turkey export price stood at $X per ton in 2018, leveling off at the previous year. Overall, the export price recorded a buoyant increase. The pace of growth appeared the most rapid in 2016 when the average export price decreased by 99.9%. The export price peaked in 2018 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Bahamas.

From 2012 to 2018, the rate of growth in terms of prices for France amounted to 0.0% per year.

Preserved Turkey Imports

Imports into Colombia

In 2021, approx. X tons of prepared or preserved meat or offal of turkeys were imported into Colombia; falling by -6.1% compared with the previous year. In general, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 352%. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, preserved turkey imports stood at $X in 2021. Overall, imports, however, posted resilient growth. The growth pace was the most rapid in 2018 when imports increased by 481% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest preserved turkey supplier to Colombia, accounting for a 75% share of total imports. Moreover, preserved turkey imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+14.6% per year) and Canada (-10.6% per year).

In value terms, the United States ($X) constituted the largest supplier of prepared or preserved meat or offal of turkeys to Colombia, comprising 90% of total imports. The second position in the ranking was taken by Canada ($X), with a 3.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+6.9% per year) and Chile (+23.6% per year).

Import Prices by Country

The average preserved turkey import price stood at $X per ton in 2021, growing by 7.6% against the previous year. In general, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +10.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved turkey import price decreased by -16.4% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 106% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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