Colombia: Market for Spices Except Pepper or Ginger 2024

Market Size for Spices Except Pepper or Ginger in Colombia

After four years of growth, the Colombian market for spices except pepper or ginger decreased by X% to $X in 2023. Overall, the total consumption indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Spices except pepper or ginger consumption peaked at $X in 2022, and then declined slightly in the following year.

Production of Spices Except Pepper or Ginger in Colombia

In value terms, spices except pepper or ginger production fell slightly to $X in 2023 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2022, and then fell in the following year.

In 2023, the average spices except pepper or ginger yield in Colombia rose to X tons per ha, increasing by X% on the previous year. In general, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the yield increased by X% against the previous year. The spices except pepper or ginger yield peaked at X tons per ha in 2016; however, from 2017 to 2023, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the harvested area of spices except pepper or ginger in Colombia contracted modestly to X ha, which is down by X% against the previous year. Over the period under review, the harvested area, however, posted a remarkable increase. The pace of growth was the most pronounced in 2020 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2021 to 2023, the growth of the spices except pepper or ginger harvested area failed to regain momentum.

Exports of Spices Except Pepper or Ginger

Exports from Colombia

In 2023, the amount of spices except pepper or ginger exported from Colombia was estimated at X tons, with an increase of X% against 2022. In general, exports saw prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, spices except pepper or ginger exports totaled $X in 2023. Over the period under review, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for spices except pepper or ginger exports from Colombia, with a X% share of total exports. Moreover, spices except pepper or ginger exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), sevenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Panama (X% per year).

In value terms, the United States ($X) remains the key foreign market for spices except pepper or ginger exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Panama (X% per year).

Export Prices by Country

In 2023, the average export price for spices except pepper or ginger amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2022, and then shrank slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Panama (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Spices Except Pepper or Ginger

Imports into Colombia

For the sixth consecutive year, Colombia recorded growth in supplies from abroad of spices except pepper or ginger, which increased by X% to X tons in 2023. In general, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked in 2023 and are likely to continue growth in the immediate term.

In value terms, spices except pepper or ginger imports rose rapidly to $X in 2023. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to see steady growth in the near future.

Imports by Country

In 2023, India (X tons) constituted the largest spices except pepper or ginger supplier to Colombia, accounting for a X% share of total imports. Moreover, spices except pepper or ginger imports from India exceeded the figures recorded by the second-largest supplier, Peru (X tons), fivefold. The third position in this ranking was held by Egypt (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (X% per year) and Egypt (X% per year).

In value terms, India ($X), the United States ($X) and Spain ($X) appeared to be the largest spices except pepper or ginger suppliers to Colombia, with a combined X% share of total imports. Peru, Egypt and Turkey lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Egypt, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the average import price for spices except pepper or ginger amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, 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 a decline.

Source: IndexBox Platform