Colombia’s Agricultural Imports Fell 5.6% in December 2024

In December 2024, imports of agricultural and agro-industrial products in Colombia were valued at $823 million USD including insurance and freight (CIF), which represented a decrease of 5.6% compared to the same month in 2023. This drop was mainly influenced by a reduction in imports of corn (-24.9%), soybeans (-59.4%), and sugar (-69.5%).

Throughout 2024, imports from the agricultural sector totaled $9.4 billion USD, which showed a decrease of 1.5% compared to the previous year. The main factors of the fall in value were the reduction in imports of corn (-15.4%), soybean cake (-18.5%), and coffee (-55.2%). In terms of volume, in December 2024, the sector’s imports reached 1,355,249 tons, which represented a decrease of 7.8% compared to December 2023. The cause of this drop was the reduction in imports of corn (-23.5%), soybeans (-49.7%), and rice (-93.9%).

However, in cumulative terms for the year 2024, imports increased by 9.0% in volume, reaching 15,498,533 tons, mainly due to the increase in imports of corn (8.4%), ethyl alcohol (70.2%), and wheat (8.1%). This year saw the highest imports in volume of agricultural and agro-industrial products.

Dora Inés Rey, acting director of the UPRA, highlighted: “Despite the fall in some imports, the general result is positive, with a significant surplus in the trade balance of the agricultural sector. This surplus reflects the strength of our production and the country’s capacity to generate high-quality agro-industrial products. From the UPRA, we continue to support policies that strengthen the competitiveness of the sector and its relationship with international markets.”

The trade balance of the agricultural sector in 2024 presented a surplus of $2,732 million FOB, 129.1% higher than the surplus recorded in 2023. However, in volume, a deficit of 9.77 million tons was reported, an increase of 8.2% compared to the previous year.

Photo credit: Rural Agricultural Planning Unit – UPRA.