Colombia: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Colombia

In 2021, after two years of growth, there was significant decline in the Colombian rusks and toasted bread market, when its value decreased by -10.2% to $X. Overall, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +43.6% against 2018 indices. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in Colombia

In value terms, rusks and toasted bread production dropped to $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 +41.1% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 32% against the previous year. As a result, production attained the peak level of $X, and then dropped in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Colombia

In 2021, exports of rusks, toasted bread and similar toasted products from Colombia amounted to X tons, therefore, remained relatively stable against the year before. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 72% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, rusks and toasted bread exports rose modestly to $X in 2021. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 94% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for rusks and toasted bread exports from Colombia, accounting for a 86% share of total exports. Moreover, rusks and toasted bread exports to the United States exceeded the volume sent to the second major destination, Spain (X tons), more than tenfold. Ecuador (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+2.6% per year) and Ecuador (-44.5% per year).

In value terms, the United States ($X) remains the key foreign market for rusks, toasted bread and similar toasted products exports from Colombia, comprising 86% of total exports. The second position in the ranking was taken by Spain ($X), with a 5.7% share of total exports. It was followed by Ecuador, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+2.5% per year) and Ecuador (-43.5% per year).

Export Prices by Country

In 2021, the average rusks and toasted bread export price amounted to $X per ton, surging by 3.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2016 an increase of 16% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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 Spain ($X per ton), while the average price for exports to Chile ($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 the United States (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Colombia

For the sixth year in a row, Colombia recorded growth in supplies from abroad of rusks, toasted bread and similar toasted products, which increased by 74% to X tons in 2021. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rusks and toasted bread imports surged to $X in 2021. Overall, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest rusks and toasted bread supplier to Colombia, accounting for a 55% share of total imports. Moreover, rusks and toasted bread imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Vietnam (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +51.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+31.4% per year) and Vietnam (+364.7% per year).

In value terms, Spain ($X), the United States ($X) and Vietnam ($X) appeared to be the largest rusks and toasted bread suppliers to Colombia, together comprising 80% of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +443.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rusks and toasted bread import price stood at $X per ton in 2021, rising by 11% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2013 when the average import price increased by 13%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+17.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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