- #3 import market for US corn in MY 2015/2016.
- DDGS important in dairy cattle diet; imports for other species depend highly on price. CGM is widely used in poultry diets.
- 3 companies dominate market with vertically integrated operations and investments.
- Local production of ethanol and restricted imports undermine U.S. sales.
- 66 TMT of U.S. sorghum imported in MY 2016.
- Population: 47.2 million
- Population growth: 1.02%
- Urban %: 76.4%
- Urban growth: 1.66%
- GDP: $667.4 billion
- GDP growth: 3.1%
- GDP per capita: $13,800
- Colombia depends heavily on energy and mining exports, making it vulnerable to a drop in commodity price.
- The Santos administration is using 2014 tax reform, which offset lost revenue from globa l drop in oil prices, to help finance peace deal with FARC.
- Colombian officials estimate a peace deal may bolster economic growth by up to 2%.
Trade and Market Share Issues
- Protein consumption has had steady growth as a result of urbanization and population increase.
- The biggest growth potential for corn and co-products comes from the poultry, swine and dairy sectors.
- Corn imports projected to continue to grow; USGC projects 9 MMT by 2030.
- Suffering from currency devaluation that impacts importers cash flow and purchasing capacity.
- Ethanol imports from the U.S. are restricted; current blend is 8%, but local production could only provide to reach 6% at 1.25 liters per day.
- Colombia attempting to impose non-tariff barriers to U.S. ethanol through a proposed resolution.
- Government protects local biofuels production, mainly from sugarcane.
- Corn demand growth has increased due to policies that maintain low import duties.
- These policies are expected to maintain and benefit U.S. products in coming years.
Feed Grains In All Forms
Marketing Year Sep 2016/Jan 2017:View U.S. Export Data by Country
Equivalent U.S Exports 46,824,065 (MT) 33%
Value $2,203,813,147 58%
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