Colombia: Paddy Rice Market 2024

Paddy Rice Market Size in Colombia

The Colombian paddy rice market reduced to $X in 2023, declining by X% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2018 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Paddy Rice Production in Colombia

In value terms, paddy rice production declined to $X in 2023 estimated in export price. In general, the total production indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

The average yield of paddy rice in Colombia expanded modestly to X tons per ha in 2023, surging by X% against the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by X%. Over the period under review, the average paddy rice yield hit record highs at X tons per ha in 2021; however, from 2022 to 2023, the yield remained at a 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 total area harvested in terms of paddy rice production in Colombia contracted slightly to X ha, waning by X% compared with 2022 figures. The harvested area increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to paddy rice production reached the maximum at X ha in 2017; however, from 2018 to 2023, the harvested area failed to regain momentum.

Paddy Rice Exports

Exports from Colombia

Paddy rice exports from Colombia fell notably to X kg in 2023, dropping by X% compared with the previous year. Overall, exports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, paddy rice exports fell sharply to $X in 2023. Over the period under review, exports recorded a precipitous curtailment. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X kg) was the main destination for paddy rice exports from Colombia, with a X% share of total exports. Moreover, paddy rice exports to Ecuador exceeded the volume sent to the second major destination, Finland (X kg), eightfold. The third position in this ranking was taken by Guatemala (X kg), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Ecuador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Guatemala (X% per year).

In value terms, Ecuador ($X), Costa Rica ($X) and Finland ($X) were the largest markets for paddy rice exported from Colombia worldwide, together accounting for X% of total exports. Aruba, Peru, Panama, Nicaragua, Guatemala, Bolivia, Honduras, France and Uruguay lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, France, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2023, the average paddy rice export price amounted to $X per ton, leveling off at the previous year. Overall, the export price recorded a significant increase. The most prominent rate of growth was recorded in 2022 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to France ($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 Finland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Paddy Rice Imports

Imports into Colombia

Paddy rice imports into Colombia reduced remarkably to X tons in 2023, which is down by X% against the previous year's figure. Overall, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2022 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, paddy rice imports fell markedly to $X in 2023. Over the period under review, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2023, the United States (X tons) was the main paddy rice supplier to Colombia, accounting for a approx. X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of volume from the United States stood at X%.

In value terms, the United States ($X) constituted the largest supplier of paddy rice to Colombia.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States stood at X%.

Import Prices by Country

The average paddy rice import price stood at $X per ton in 2023, flattening at the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2023, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform