Colombia: Salt Market 2024

Salt Market Size in Colombia

The Colombian salt market declined to $X in 2022, reducing by -7.5% against the previous year. In general, consumption, however, recorded a strong increase. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Salt Production in Colombia

In value terms, salt production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2013 when the production volume increased by 66% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then shrank in the following year.

Salt Exports

Exports from Colombia

In 2022, approx. X tons of salt and pure sodium chloride were exported from Colombia; rising by 8.3% compared with 2021. Over the period under review, exports, however, faced a deep downturn. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, salt exports contracted to $X in 2022. Overall, exports, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2014 when exports increased by 5.8%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Costa Rica (X tons) was the main destination for salt exports from Colombia, with a 42% share of total exports. Moreover, salt exports to Costa Rica exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Ecuador (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Costa Rica totaled -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-11.2% per year) and Ecuador (-2.7% per year).

In value terms, the largest markets for salt exported from Colombia were the United States ($X), Costa Rica ($X) and Honduras ($X), with a combined 76% share of total exports.

Honduras, with a CAGR of +12.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average salt export price stood at $X per ton in 2022, with a decrease of -8.4% against the previous year. Over the period under review, the export price, however, posted a prominent increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 31%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Ecuador ($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 Honduras (+38.0%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Colombia

In 2022, purchases abroad of salt and pure sodium chloride decreased by -3.5% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 19%. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted slightly in the following year.

In value terms, salt imports shrank to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Peru (X tons) constituted the largest salt supplier to Colombia, with a 82% share of total imports. Moreover, salt imports from Peru exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Peru stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+18.8% per year) and the Dominican Republic (+40.3% per year).

In value terms, Peru ($X) constituted the largest supplier of salt and pure sodium chloride to Colombia, comprising 49% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 9.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Peru amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.3% per year) and the Dominican Republic (+55.4% per year).

Import Prices by Country

The average salt import price stood at $X per ton in 2022, with a decrease of -4.7% against the previous year. In general, the import price continues to indicate a noticeable decline. The growth pace was the most rapid in 2021 when the average import price increased by 19%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 the Dominican Republic ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+15.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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