Colombia: In January-July, nearly USD 100 million were allocated to import dairy

Published Oct 6, 2021

Tridge summary

Despite a decrease in imports, Colombia has still imported over 34,000 tons of dairy products in the first seven months of 2021, spending over $97 million. This spending is more than in previous years and has led to a trade deficit. The majority of these imports were from the US.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Although imports have decreased compared to 2019 and 2020, the high exchange rate has not stopped the continuous entry of these derivatives produced abroad into our country. To date, more than 97 million dollars have been allocated to these purchases. According to the DANE report compiled by the Office of Economic Planning and Investigations of Fedegán-FNG, between January and July of this year 34,354 tons of dairy products have entered for a CIF value of USD 97,353,000. Although this volume is 38% lower than that registered in the same period of 2020 and 15% less than that of 2019, it has already exceeded the annual total of 2014 (27,723 t) and 2015 (31,048 t). (Read: The trade balance of dairy products continues to be in deficit for Colombia) In addition, the average CIF cost per ton is still higher than in previous years: while in 2019 it was $ 2,543 and in 2020 it was $ 2,763, so far this year it has been at $ 2,834, so that these purchases have become more expensive. The ...

Source: MXContexto