Browse Data and Analysis

Corn, wheat, rice, and sorghum consumption is expected to increase in marketing year (MY) 2025/26 due to the appreciation of the naira, slowing food price inflation, and macroeconomic stabilization.

Colombia’s economic recovery together with growing domestic livestock and poultry production are driving Colombia’s corn demand. With the rapid development of poultry and egg production in particular, corn consumption is projected to increase in market year (MY) 2025/2026 to support strengthening demand from the animal feed sector.

Imports of wheat, rice, and corn in marketing year (MY) 2024/25 are estimated to increase as the economy stabilizes, inflation decreases, and the government implements a temporary zero-duty import policy for the afore-mentioned commodities until December 31.

The 2023 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2023 calendar year.

In market year (MY) 2024/2025, Colombia’s corn production is forecast to decrease to 1.5 million metric tons (MMT) influenced by lower domestic corn prices and dissuading farmers from expanding corn cultivation.

Due to rising insecurity in grain producing regions and higher input costs affecting planting decisions, corn and rice production is expected to decline in marketing year (MY) 2024/25.

Adverse weather conditions and lower domestic prices will constrain Colombia's corn production in market year (MY) 2023/2024, which is estimated to remain flat at 1.5 million metric tons (MMT).

Post estimates marketing year (MY) 2023/24 wheat consumption to decrease to 4.5 million metric tons (MMT) or 10 percent from USDA's official estimate.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

Rice import for MY 2023/24 is forecast to increase by 4 percent as flooding curbs domestic production and increases imports.

In marketing year (MY) 2023/24, Colombia's corn and rice production are forecast to marginally increase driven by higher domestic prices and expected normalized weather conditions. However, high production costs continue to be a challenge for Colombian producers.

Colombia’s economy is projected to grow at a slower pace in 2023, restricting a more substantial growth in demand for grains in marketing year (MY) 2022/23. Although the United States continues to be the main sourcing option for Colombian importers of corn given trade preferences under the U.S.-Colombia Trade Promotion Agreement and geographical advantages, increasing competition from Brazilian and Argentinian corn is expected.