Colombia: Grain and Feed Update
Link to report:
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). In the current MY, Colombia's rice production will likely increase due to increased planted area stemming from high domestic prices. It is expected however that drought conditions from the El Niño weather phenomena will impact rice production in the upcoming year. Colombia’s economy is projected to grow at a slower pace in 2023 and into 2024, restricting a more substantial growth in domestic grain demand. Wheat and corn import estimates in MY 2023/2024 remain mostly unchanged, while rice imports will likely decline year-on-year given higher local production. Exports of U.S. grains continue to face competition, especially from Brazilian corn and Canadian wheat due to competitive pricing.
