Agriculture in Colombia is expected to register a CAGR of 7.3% during the forecast period (2020-2025). Colombia, the world’s second-largest coffee grower, contributes 13-16% of the total world production each year. Bananas are second to coffee in economic importance. Other important export crops include sugarcane and cotton. Among food crops rice, cassava and maize are the most important. The area allocated to fruits and palm oil has expanded by 221% and its share in total crop area increased from 1.9% to 7.4% over the last 20 years.
Key Market Trends
High Growth Potential for Agricultural Exports
Coffee and banana crops play an important role in the agricultural economy of Colombia. According to the United states department of agriculture(USDA), Colombia has exports valued at USD 2.9 billion in the year 2018 which is 74% higher than USD 1.7 billion in the year 2008, the country has shown quite a consistent quantity of exports since 2015. In the year 2017, the country has exported 1.88 million metric tons of banana which were 1.59 million metric tons in 2015. This scope in exports makes the country grow better crops and drive the Colombia agriculture market further.
Increasing demand for staple food
cereals are the major supplement consumed with the staple food.increase in population leading to demand for staple food makes the cereals and pulses to be consumed at a higher rate over the years. According to food and agricultural organization(FAO), the cereals and pulses production was valued at 5,478 metric tons in the year 2014. The production has shown a significant increase every year. The production of cereals and pulses has witnessed 9,052 metric tons in the year 2017 which is twice the production in the year 2014.so, being a staple consuming food cereal production and the market is expected to grow further in the future.
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