Colombia: Salt Market 2022

Salt Market Size in Colombia

After nine years of growth, the Colombian salt market decreased by -X% to $X in 2021. In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +X% 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 +X% against 2012 indices. Over the period under review, the market hit record highs at $X in 2020, and then shrank slightly in the following year.

Salt Production in Colombia

In value terms, salt production fell slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then fell modestly in the following year.

Salt Exports

Exports from Colombia

In 2021, the amount of salt and pure sodium chloride exported from Colombia fell to X tonnes, with a decrease of -X% compared with the previous year's figure. Over the period under review, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at X tonnes in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, salt exports rose modestly to $X in 2021. In general, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Costa Rica (X tonnes) was the main destination for salt exports from Colombia, accounting for a X% share of total exports. Moreover, salt exports to Costa Rica exceeded the volume sent to the second major destination, the Dominican Republic (X tonnes), threefold. The third position in this ranking was occupied by the United States (X tonnes), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Costa Rica amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-X% per year) and the United States (-X% per year).

In value terms, the largest markets for salt exported from Colombia were Costa Rica ($X), the United States ($X) and the Dominican Republic ($X), together accounting for X% of total exports. These countries were followed by Panama, Ecuador, Belgium and Peru, which together accounted for a further X the main countries of destination, Belgium, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average salt export price stood at $X per tonne in 2021, picking up by X% against the previous year. Overall, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per tonne), while the average price for exports to Peru ($X per tonne) 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 (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Colombia

In 2021, supplies from abroad of salt and pure sodium chloride increased by X% to X tonnes, rising for the fourth year in a row after two years of decline. Over the period under review, imports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at X tonnes in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, salt imports surged to $X in 2021. The total import value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Peru (X tonnes) constituted the largest supplier of salt to Colombia, with a X% share of total imports. Moreover, salt imports from Peru exceeded the figures recorded by the second-largest supplier, the Netherlands (X tonnes), twofold. The Dominican Republic (X tonnes) ranked third in terms of total imports with a X% share.

From 2012 to 2021, 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: the Netherlands (+X% per year) and the Dominican Republic (+X% per year).

In value terms, Peru ($X) constituted the largest supplier of salt to Colombia, comprising X% of total imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total imports. It was followed by the Dominican Republic, with an X% share.

From 2012 to 2021, the average annual growth rate of value from Peru totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and the Dominican Republic (+X% per year).

Import Prices by Country

The average salt import price stood at $X per tonne in 2021, growing by X% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, salt import price increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($X per tonne), while the price for the Netherlands ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform