Colombia: Wheat Market 2024

Wheat Market Size in Colombia

In 2022, the Colombian wheat market increased by X% to $X, rising for the fourth consecutive year after two years of decline. In general, the total consumption indicated resilient growth from 2012 to 2022: its value 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, consumption increased by X% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wheat Production in Colombia

In value terms, wheat production rose slightly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of wheat in Colombia dropped to X tons per ha, reducing by X% against the previous year's figure. In general, the yield, however, showed prominent growth. The growth pace was the most rapid in 2018 when the yield increased by X% against the previous year. The wheat yield peaked at X tons per ha in 2021, and then fell in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of wheat were harvested in Colombia; leveling off at the previous year. Over the period under review, the harvested area saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha. From 2017 to 2022, the growth of the wheat harvested area remained at a somewhat lower figure.

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Wheat Exports

Exports from Colombia

In 2022, approx. X kg of wheat were exported from Colombia; with a decrease of X% on 2021. Over the period under review, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, wheat exports fell significantly to $X in 2022. Overall, exports showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Curacao (X kg) was the main destination for wheat exports from Colombia, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Curacao amounted to X%.

In value terms, Curacao ($X) emerged as the key foreign market for wheat exports from Colombia.

From 2012 to 2022, the average annual growth rate of value to Curacao amounted to X%.

Export Prices by Country

The average wheat export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Curacao.

From 2012 to 2022, the rate of growth in terms of prices for Aruba amounted to X% per year.

Wheat Imports

Imports into Colombia

In 2022, purchases abroad of wheat increased by X% to X tons, rising for the fourth year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by X%. Imports peaked at X tons in 2016; afterwards, it flattened through to 2022.

In value terms, wheat imports soared to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value 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, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Canada (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of wheat imports to Colombia, with a combined X% share of total imports.

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

In value terms, the largest wheat suppliers to Colombia were Canada ($X), the United States ($X) and Argentina ($X), together comprising X% of total imports.

Canada, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average wheat import price amounted to $X per ton, jumping by X% against the previous year. In general, import price indicated a measured increase 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, wheat import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and the United States ($X per ton), while the price for France ($X per ton) and Argentina ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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