Potato Market Overview in Colombia

The Colombian potato market skyrocketed to $ in 2019, picking up 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). Over the period under review, the total consumption indicated noticeable growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2013 indices. The most prominent rate of growth was recorded in 2012 with an increase of % y-o-y. Over the period under review, the market hit record highs in 2019 and is likely to see gradual growth in the near future.

In value terms, potato production surged to $ in 2019 estimated in export prices. In general, the total production indicated pronounced growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2013 indices. The pace of growth was the most pronounced in 2012 when the production volume increased by % y-o-y. Over the period under review, production attained the maximum level in 2019 and is expected to retain growth in years to come.

The average yield of potatoes in Colombia rose modestly to tonnes per ha in 2019, growing by % compared with 2018. 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 in certain years. The pace of growth was the most pronounced in 2017 with an increase of % against the previous year. As a result, the yield reached 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.

The potato harvested area in Colombia fell to ha in 2019, which is down by -% compared with the previous year. Overall, the harvested area continues to indicate a mild shrinkage. The growth pace was the most rapid in 2015 when the harvested area increased by % y-o-y. The potato harvested area peaked at ha in 2007; however, from 2008 to 2019, the harvested area remained at a lower figure.

In 2019, consumption of potatoes in Colombia reached tonnes, approximately mirroring the year before. Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of % against the previous year. 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 value of the potato market in Colombia surged to $ in 2019, with an increase of % 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, the total consumption indicated a perceptible expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2013 indices. The pace of growth appeared the most rapid in 2012 with an increase of % year-to-year. Over the period under review, the market attained the peak level in 2019 and is expected to retain growth in the near future.

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.