Colombia: Market for Raw Hides And Skins of Cattle 2024

Market Size for Raw Hides And Skins of Cattle in Colombia

For the third consecutive year, the Colombian cattle hide and skin market recorded decline in sales value, which decreased by -1.9% to $X in 2021. Over the period under review, consumption saw a perceptible decrease. The most prominent rate of growth was recorded in 2018 with an increase of 8.5% against the previous year. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Raw Hides And Skins of Cattle in Colombia

In value terms, cattle hide and skin production expanded modestly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt setback. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

The average yield of raw hides and skins of cattle in Colombia totaled X kg per head in 2021, approximately reflecting 2020. The yield figure increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 2.3%. The cattle hide and skin yield peaked in 2021 and is expected to retain growth in years to come.

The number of animals slaughtered for cattle hide and skin production in Colombia rose slightly to X heads in 2021, picking up by 1.5% against 2020 figures. Over the period under review, the number of producing animals, however, saw a pronounced decline. Over the period under review, this number hit record highs at X heads in 2012; however, from 2013 to 2021, producing animals remained at a lower figure.

Exports of Raw Hides And Skins of Cattle

Exports from Colombia

In 2021, shipments abroad of raw hides and skins of cattle increased by 168% to X tons, rising for the second year in a row after four years of decline. Overall, exports, however, showed a abrupt shrinkage. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, cattle hide and skin exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep slump. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) was the main destination for cattle hide and skin exports from Colombia, with a 42% share of total exports. Moreover, cattle hide and skin exports to Nigeria exceeded the volume sent to the second major destination, Togo (X tons), twofold. The third position in this ranking was held by Brazil (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Nigeria stood at +407.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+88.9% per year) and Brazil (+116.7% per year).

In value terms, the largest markets for cattle hide and skin exported from Colombia were Nigeria ($X), Hong Kong SAR ($X) and Togo ($X), with a combined 82% share of total exports.

In terms of the main countries of destination, Nigeria, with a CAGR of +554.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cattle hide and skin export price amounted to $X per ton, growing by 20% against the previous year. In general, the export price, however, saw a abrupt shrinkage. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+28.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Hides And Skins of Cattle

Imports into Colombia

In 2021, overseas purchases of raw hides and skins of cattle increased by 300% to X tons, rising for the second year in a row after five years of decline. Overall, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 378% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, cattle hide and skin imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 372%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) was the main cattle hide and skin supplier to Colombia, accounting for a 93% share of total imports. Moreover, cattle hide and skin imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Brazil (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +348.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-14.9% per year) and Brazil (0.0% per year).

In value terms, Spain ($X) constituted the largest supplier of raw hides and skins of cattle to Colombia, comprising 96% of total imports. The second position in the ranking was taken by the United States ($X), with a 2.2% share of total imports. It was followed by Brazil, with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled +412.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-20.7% per year) and Brazil (0.0% per year).

Import Prices by Country

In 2021, the average cattle hide and skin import price amounted to $X per ton, picking up by 15% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average import price increased by 49% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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 Spain ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+14.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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