Colombia: Ginger Market Overview 2021

Ginger Market Size in Colombia

The Colombian ginger market soared to $X in 2020, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2020, consumption failed to regain the momentum.

Ginger Exports

Exports from Colombia

In 2020, shipments abroad of ginger decreased by -X% to X tonnes for the first time since 2014, thus ending a five-year rising trend. In general, exports, however, showed tangible growth. The most prominent rate of growth was recorded in 2011 when exports increased by X% year-to-year. Over the period under review, exports reached the peak figure at X tonnes in 2019, and then shrank significantly in the following year.

In value terms, ginger exports contracted modestly to $X in 2020. Overall, exports, however, continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X% year-to-year. Exports peaked at $X in 2008; however, from 2009 to 2020, exports remained at a lower figure.

Exports by Country

Canada (X tonnes) was the main destination for ginger exports from Colombia, accounting for a X% share of total exports. Moreover, ginger exports to Canada exceeded the volume sent to the second major destination, Slovenia (X tonnes), eightfold. Spain (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Canada amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+X% per year) and Spain (-X% per year).

In value terms, Canada ($X) emerged as the key foreign market for ginger exports from Colombia, comprising X% of total exports. The second position in the ranking was occupied by Slovenia ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Canada totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+X% per year) and Spain (-X% per year).

Export Prices by Country

The average ginger export price stood at $X per tonne in 2020, surging by X% against the previous year. Overall, the export price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked at $X per tonne in 2008; however, from 2009 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was the UK ($X per tonne), while the average price for exports to Spain ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Spain, while the prices for the other major destinations experienced a decline.

Ginger Imports

Imports into Colombia

Ginger imports into Colombia surged to X tonnes in 2020, rising by X% against 2019. In general, imports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X tonnes in 2015; however, from 2016 to 2020, imports failed to regain the momentum.

In value terms, ginger imports reached $X in 2020. Over the period under review, imports, however, saw mild growth. The pace of growth appeared the most rapid in 2009 when imports increased by X% y-o-y. Imports peaked at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Peru (X tonnes) constituted the largest supplier of ginger to Colombia, accounting for a X% share of total imports. Moreover, ginger imports from Peru exceeded the figures recorded by the second-largest supplier, Ecuador (X tonnes), sixfold.

From 2007 to 2020, the average annual growth rate of volume from Peru amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-X% per year) and China (+X% per year).

In value terms, Peru ($X), China ($X) and Ecuador ($X) appeared to be the largest ginger suppliers to Colombia, with a combined X% share of total imports.

Peru saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2020, the average ginger import price amounted to $X per tonne, with a decrease of -X% against the previous year. Over the period under review, import price indicated a notable expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, ginger import price increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per tonne, and then declined markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was China ($X per tonne), while the price for Peru ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Ecuador, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform