Potato Market Overview in Colombia

The Colombian potato market skyrocketed to $ in 2019, growing by % 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). In general, consumption saw a measured expansion. The most prominent rate of growth was recorded in 2017 when the market value increased by % y-o-y. As a result, consumption reached the peak level of $. From 2018 to 2019, the growth of the market failed to regain the momentum.

In value terms, potato production skyrocketed to $ in 2019 estimated in export prices. Overall, production recorded measured growth. The pace of growth was the most pronounced in 2017 with an increase of % against the previous year. As a result, production attained the peak level of $. From 2018 to 2019, production growth remained at a lower figure.

In 2019, the average potato yield in Colombia stood at tonnes per ha, rising by % compared with the previous year. The yield figure increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of % y-o-y. As a result, the yield attained the peak level of tonnes per ha. From 2018 to 2019, the growth of the average potato yield remained 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 2019, the total area harvested in terms of potatoes production in Colombia reduced slightly to ha, waning by -% on 2018. Overall, the harvested area showed a mild downturn. The most prominent rate of growth was recorded in 2015 with an increase of % year-to-year. The potato harvested area peaked at ha in 2007; however, from 2008 to 2019, the harvested area remained at a lower figure.

In 2019, potato consumption in Colombia amounted to tonnes, therefore, remained relatively stable against 2018. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of % y-o-y. As a result, consumption attained the peak volume of tonnes. From 2018 to 2019, the growth of the consumption remained at a lower figure.

The size of the potato market in Colombia skyrocketed to $ in 2019, rising by % 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). Overall, consumption continues to indicate a tangible expansion. The pace of growth was the most pronounced in 2017 with an increase of % against the previous year. As a result, consumption reached the peak level of $. From 2018 to 2019, the growth of the market remained at a lower figure.

Driven by increasing demand for potato in Colombia, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .

Over the period under review, imports of potato in Colombia were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for potato.

This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.