Colombia: Sulphur Market 2024

Sulphur Market Size in Colombia

The Colombian sulphur market contracted to $X in 2022, which is down by -6.8% against the previous year. Overall, consumption saw a abrupt decline. Sulphur consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sulphur Production in Colombia

In value terms, sulphur production fell modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced decline. The growth pace was the most rapid in 2018 with an increase of 16%. Sulphur production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sulphur Exports

Exports from Colombia

In 2022, overseas shipments of sulphur increased by 46% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 112%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, sulphur exports soared to $X in 2022. Over the period under review, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 51%. Over the period under review, the exports hit record highs 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 sulphur exports from Colombia, accounting for a 56% share of total exports. Moreover, sulphur exports to Costa Rica exceeded the volume sent to the second major destination, Peru (X tons), twofold. The Dominican Republic (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to Costa Rica was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+80.5% per year) and the Dominican Republic (-3.0% per year).

In value terms, Costa Rica ($X) remains the key foreign market for sulphur exports from Colombia, comprising 63% of total exports. The second position in the ranking was taken by Peru ($X), with a 19% share of total exports. It was followed by Ecuador, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value to Costa Rica totaled -5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+38.3% per year) and Ecuador (-23.5% per year).

Export Prices by Country

In 2022, the average sulphur export price amounted to $X per ton, with a decrease of -10.1% against the previous year. Overall, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2018 an increase of 30% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Venezuela ($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 Ecuador (-0.7%), while the prices for the other major destinations experienced a decline.

Sulphur Imports

Imports into Colombia

In 2022, sulphur imports into Colombia fell significantly to X tons, which is down by -28.5% against 2021. In general, imports faced a precipitous curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 133%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sulphur imports declined notably to $X in 2022. Over the period under review, imports continue to indicate a sharp descent. The growth pace was the most rapid in 2021 when imports increased by 159%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Free Zones (X tons) was the main supplier of sulphur to Colombia, with a 94% share of total imports. It was followed by India (X tons), with a 2.9% share of total imports. Brazil (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Free Zones amounted to +49.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+27.5% per year) and Brazil (+34.8% per year).

In value terms, the largest sulphur suppliers to Colombia were Free Zones ($X), India ($X) and Brazil ($X), together comprising 97% of total imports.

In terms of the main suppliers, Free Zones, with a CAGR of +57.0%, saw the highest rates of growth with regard to 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

In 2022, the average sulphur import price amounted to $X per ton, waning by -3% against the previous year. In general, the import price saw a mild decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 46% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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