Asparagus Market Overview in Colombia
In value terms, asparagus production stood at $5.1M in 2010 estimated in export prices. In general, asparagus production, however, continues to indicate a skyrocketing increase. The pace of growth appeared the most rapid in 2009 with an increase of 74% against the previous year. In that year, asparagus production reached its peak level of $6.5M, and then declined slightly in the following year.
In 2010, the average yield of asparagus in Colombia stood at 24 tonne per ha, jumping by 17% against the previous year. Overall, the yield indicated a buoyant increase from 2007 to 2010: its figure increased at an average annual rate of +16.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2010 figures, asparagus yield increased by +58.7% against 2007 indices. The most prominent rate of growth was recorded in 2008 when yield increased by 17% y-o-y. Asparagus yield peaked in 2010 and is likely to continue its growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2010, approx. 60 ha of asparagus were harvested in Colombia; lowering by -16.3% against the previous year. Overall, the asparagus harvested area continues to indicate an abrupt decrease. The most prominent rate of growth was recorded in 2010 when harvested area decreased by -16.3% y-o-y. Over the period under review, the harvested area dedicated to asparagus production reached its maximum at 102 ha in 2007; however, from 2008 to 2010, harvested area remained at a lower figure.
The revenue of the asparagus market in Colombia amounted to $5.4M in 2010, going down by -23% 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, asparagus consumption, however, continues to indicate a skyrocketing expansion. The pace of growth was the most pronounced in 2008 with an increase of 68% y-o-y. Asparagus consumption peaked at $7M in 2009, and then declined slightly in the following year.