PRESS ROOM
22/2/2024
During 2023, agricultural and livestock sector imports decreased by 13.1%, totaling US$9.598 million CIF.
In terms of volume, imports in December 2023 increased by 22.2% compared to the same month of the previous year.
Bogotá D.C., (@Minagricultura, @UPRAColombia, @claudialili76). The Rural Agricultural Planning Unit (UPRA) provides an analysis of the figures compiled by the National Administrative Department of Statistics (DANE) in the "Report on imports of agricultural and agro-industrial products" for December 2023 and the consolidated data for the year.
2023 concluded with a 13.1% decrease in the total value of imports compared to the previous year, totaling US$9.598 million CIF. This reduction is mainly attributed to decreases in corn imports by US$299.5 million (-13.8%), wheat by US$259.6 million (-29.3%), and coffee by US$231.2 million (-47.3%), resulting in a 4.9% decrease in total imported tons, totaling 14.2 million in 2023. This trend "is mainly explained by the reduction in wheat imports by 312,320 tons (-14.9%), corn by 208,057 tons (-3.2%), and rice by 53,783 tons (-24.1%)," stated Claudia Cortés, UPRA Director.
Additionally, the trade balance closed the year with a surplus of US$1.193 million FOB, although this figure represents a 9.9% decrease compared to the previous year. In terms of volume, a smaller deficit of 1.8% was observed, compared to the balance presented in 2022, totaling a negative balance of 9.03 million tons.
Import of agricultural and agro-industrial products in December 2023
For December 2023, the figures reveal a 2.2% increase compared to the same month in 2022, reaching US$872 million CIF. This increase was mainly driven by the acquisition of soybeans (834.9%), ethyl alcohol (452.6%), and pork meat (74.2%).
For December 2023, the figures reveal a 2.2% increase compared to the same month in 2022, reaching US$872 million CIF. This increase was mainly driven by the acquisition of soybeans (834.9%), ethyl alcohol (452.6%), and pork meat (74.2%).
In terms of volume, the increase was 22.2% compared to December 2022, totaling 1.4 million tons. This is mainly explained by the increase in imports of corn by 243,005 tons (46.8%), soybeans by 55,879 tons (963.6%), and ethyl alcohol by 33,928 tons (561.9%).
Context of the international oil price and the representative market rate
In December 2023, the international price of oil was US$75.7 per barrel, showing a 6.9% decrease compared to the previous month. On the other hand, in December, there was an average exchange rate of $3,954; the lowest in the last 18 months.
You can access the full report here.
In December 2023, the international price of oil was US$75.7 per barrel, showing a 6.9% decrease compared to the previous month. On the other hand, in December, there was an average exchange rate of $3,954; the lowest in the last 18 months.
You can access the full report here.
