The projection for 2024, in terms of inputs, is that the downward price trend will continue, UPRA Director.

 
Bogotá D.C., (@UPRAColombia, @claudialili76). Agricultural inputs have consistently seen a reduction in prices since mid-2022, a trend that continued in 2023 and that Claudia Cortés, the director of the Rural Agricultural Planning Unit (UPRA), expects to persist this year.

"The projection for 2024, in terms of inputs, is that we continue generating strategies to maintain this downward trend. The decrease in input prices, which, in general, constitutes one of the heaviest factors in the cost structure, is very good news," stated the UPRA director.

According to the Bulletin of the Agricultural Input and Animal Feed Price Index, in 2023, products used for harvesting agricultural foods saw a 31% price decrease, particularly driven by a 39.35% reduction in the cost of fertilizers. Pesticide prices dropped by 10.03%, while the category of other inputs, including adjuvants, regulators, and molluscicides, increased by 6.99%.

On the other hand, animal feed experienced a 9.44% reduction in prices. All groups saw a decrease in their prices; for example, the price of aquaculture decreased by 5%; poultry farming decreased by 12.23%; bovine livestock fell by 8.57%; and pig farming saw a reduction of 11.39% in prices.

The UPRA director stated, "The Colombian economy is moving towards its long-term path; that is, we are no longer experiencing the rebound effect from economic recovery and the pandemic. We are moving towards that long-term exercise. We also need to be reviewing supply exercises."

 
Those interested in more details about the behavior of prices for agricultural inputs and animal feed can visit the UPRA website.