Colombia: An Overview of the Colombian Dairy Market
Link to report:
Colombia’s raw milk production has remained steady in the last decade, with an average annual growth rate of 0.8 percent. The sector is still largely informal, with a 47 percent collection rate in 2023 from producers into the formal market. While the local industry expected a significant decline in production in 2023 as a result of the El Niño phenomenon, production declined less than expected. This, combined with lowered domestic consumption, led to high inventories starting in the second half of 2023. Colombia currently has limited capacity to produce milk powder and relies on imports to meet demand in the local food processing industry. Local consumption of milk has declined in recent years due to high inflation, stagnate economic growth, and higher prices.
