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In fiscal year (FY) 2016 (October to September) total Colombian food and agricultural imports were valued at $5.5 billion.
Colombia continues to expand its biotechnology frontier. The adoption rate for biotech corn has surpassed that of cotton and the development of a regulatory framework is underway.
Colombia’s biofuel mandates remain unchanged resulting in little incentive to increase production or consumption.
Colombian grain production could be impacted in 2016 as the period of drought from the El Niño weather phenomena transitions to rainier conditions of La Niña.