Colombia: Processed Meat Market 2024

Processed Meat Market Size in Colombia

The Colombian processed meat market fell notably to $X in 2022, with a decrease 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 recorded a noticeable decrease. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Processed Meat Exports

Exports from Colombia

For the eighth consecutive year, Colombia recorded decline in shipments abroad of processed meat, which decreased by X% to X tons in 2022. Overall, exports faced a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, processed meat exports contracted notably to $X in 2022. Over the period under review, exports showed a deep downturn. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ecuador (X tons), the United States (X tons) and Cuba (X tons) were the main destinations of processed meat exports from Colombia, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X) emerged as the key foreign market for processed meat exports from Colombia, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Cuba, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Ecuador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Cuba (X% per year).

Export Prices by Country

In 2022, the average processed meat export price amounted to $X per ton, surging by X% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, processed meat export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 ($X per ton), while the average price for exports to Aruba ($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 Cuba (X%), while the prices for the other major destinations experienced more modest paces of growth.

Processed Meat Imports

Imports into Colombia

In 2022, approx. X tons of processed meat were imported into Colombia; which is down by X% compared with 2021. In general, imports showed a pronounced downturn. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, processed meat imports fell markedly to $X in 2022. Over the period under review, imports showed a slight slump. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of processed meat to Colombia, with a X% share of total imports. Moreover, processed meat imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Spain (X% per year).

In value terms, the United States ($X), Chile ($X) and Spain ($X) constituted the largest processed meat suppliers to Colombia, together accounting for X% of total imports.

Among the main suppliers, Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average processed meat import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Spain ($X per ton), while the price for Chile ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :