Colombia: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Colombia

The Colombian wheat and meslin flour market reached $X in 2022, with an increase of 1.6% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Wheat and meslin flour consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Wheat and Meslin Flour in Colombia

In value terms, wheat and meslin flour production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 18%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of Wheat and Meslin Flour

Exports from Colombia

In 2022, approx. X tons of wheat and meslin flour were exported from Colombia; with an increase of 239% on 2021. Over the period under review, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 1,603% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, wheat and meslin flour exports surged to $X in 2022. In general, exports recorded a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 1,793%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Venezuela (X tons) was the main destination for wheat and meslin flour exports from Colombia, with a 92% share of total exports. Moreover, wheat and meslin flour exports to Venezuela exceeded the volume sent to the second major destination, Curacao (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Venezuela totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Curacao (-12.9% per year) and Ecuador (0.0% per year).

In value terms, Venezuela ($X) remains the key foreign market for wheat and meslin flour exports from Colombia, comprising 89% of total exports. The second position in the ranking was held by Ecuador ($X), with a 6.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Venezuela totaled +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (0.0% per year) and Curacao (-9.2% per year).

Export Prices by Country

The average wheat and meslin flour export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2017 an increase of 28% against the previous year. The export price peaked at $X per ton in 2021, and then dropped slightly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Curacao ($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 Curacao (+4.2%).

Imports of Wheat and Meslin Flour

Imports into Colombia

In 2022, the amount of wheat and meslin flour imported into Colombia soared to X tons, jumping by 23% compared with the previous year. Over the period under review, imports continue to indicate a notable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 385% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, wheat and meslin flour imports surged to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 241%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Peru (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of wheat and meslin flour imports to Colombia, together accounting for 90% of total imports. Mexico and Italy lagged somewhat behind, together accounting for a further 6.9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +67.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), the United States ($X) and Mexico ($X) appeared to be the largest wheat and meslin flour suppliers to Colombia, together accounting for 94% of total imports. Argentina and Italy lagged somewhat behind, together comprising a further 3.5%.

Among the main suppliers, Italy, with a CAGR of +41.9%, saw 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 wheat and meslin flour import price stood at $X per ton in 2022, surging by 2.8% against the previous year. Overall, the import price, however, saw a mild contraction. The most prominent rate of growth was recorded in 2015 an increase of 71%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained 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 the United States ($X per ton), while the price for Argentina ($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 (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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