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Colombian Economy Key Facts

 Agroindustry

AGROINDUSTRY

  • According to the UPRA zoning study, there are about 8.9 million hectares with high and medium aptitude for the establishment of commercial forest plantations in Colombia. Additionally, the country´s strategic location allows year-long photosynthesis and more than 10 forest species suitable for added value products (Source: CONIF).

  • Colombia is the third top growing South American economy in the agriculture, forestry, and fishing sectors. In 2017, the agricultural sector represented 4.3% of the Colombian economy, and grew 4,9%.

  • The Colombian countryside has the potential of being an agricultural power in the region: it is the fifth biggest country in Latin America with a surface of 114 million hectares. From the 24 million hectares with potential cultivated land in Colombia, there are only about 8 million cultivated (UPRA).

  • Colombia is the 4th largest Latin-American exporter of cocoa beans (after Ecuador, Peru and Dominican Republic).

  • The Colombian agricultural supply has products with organic, HACCP, ISO, BCR, GlobalGap, Fairtrade certification, among others.

  • Between 2014-2018, Colombia was the fourth country with the largest number of FDI projects in the agribusiness sector in Latin America, after Mexico, Brazil and Argentina (FDI MARKETS).

  • Colombia incentivizes reforestation projects through the Forest Incentive Certificate which is a direct monetary contribution of between 50% to 75% of the costs of seeding forest plantations.

  • According to the International Cocoa Organization (ICCO), 95% of the Colombian cocoa used for exports, received the “fine or flavor” distinction, attribute granted to only 5% of the beans commercialized worldwide. On the other hand, only 75% of the Peruvian and Ecuadorian exports receive this distinction.

  • Because of its climate, various thermal floors, water availability and nutrient-rich lands, Colombia has a varied supply of agricultural products throughout the year.

  • The fine or flavor properties of Colombian cocoa are guaranteed by the optimal agro-ecological conditions and excellent genetic materials.

  • The Rural Agricultural Planning Unit (UPRA, Spanish abbreviation) has identified 14.4 million hectares with a high and medium aptitude for cocoa crops.

  • According to the Enabling the Business of Agriculture (EBA) ranking from the World Bank, Colombia ranks first in the finance indicator (measuring laws and regulations that affect access to financial services for farmers and agribusiness) and third in the water indicator (measuring key elements within the legal and regulatory framework that impact farmers access to sufficient quantities of water, at an adequate quality level and at the time and location needed for crop production) after Spain and Mexico.

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According to the UPRA zoning study, there are about 8.9 million hectares with high and medium aptitude for the establishment of commercial forest plantations in Colombia. Additionally, the country´s strategic location allows year-long photosynthesis and more than 10 forest species suitable for added value products (Source: CONIF).

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