- #4 import market for US corn in 2016/17. No sorghum imports in 2016/17.
- DDGS imports continue to grow in importance.
- CGM widely used in poultry diets, but imported quantities were lower in 2017 due to prices.
- Three companies dominate market with vertically integrated operations and investments.
- Seven sugar millers produce 450 million liters per year for E8 blend mandate.
- Population / growth: 2 million / 1.02%
- Urban % / growth: 77% / 1.47%
- GDP / growth: $712.5 billion / 2%
- GDP per capita: $14,500
- Colombia depends heavily on energy and mining exports, making it vulnerable to drops in commodities prices.
- May 2018 presidential elections, new government to begin in August. Implementation and financing of signed peace agreement with FARC is major challenge.
- Growth expected to strengthen over 2018/19, with economic growth driven by the recovery of non-oil exports and oil prices and the 4G infrastructure program.
Trade and Market Share Issues
- Steady growth in protein consumption as result of urbanization and population increase.
- Biggest growth potential for feed grains are the poultry and swine sectors.
- Corn imports projected to continue to grow; USGC projects 9 MMT by 2030.
- Ethanol imports from US are restricted based on carbon footprint standards. Blend goal of E10, but currently blend rate of 8%. Local prices are uncompetitive at North Coast due to transportation costs.
- U.S. corn demand growth continues due to policies under FTA that maintain low import duties.
- Local corn growers’ association attempting to modify treatment of corn under FTA. Although case was solved, and FTA benefits preserved, new attempts can be made in future by this organization.
- Non-tariff barriers on US ethanol through resolution that establishes a maximum footprint limit associated with the GHG inventory for ethanol.
- Colombia sugar miller’s association maintains close relationship with government; policies are set to protect local biofuels production.