Colombian market contracts 19% in March

Colombian market contracts 19% in March
16 May 2024

Cement dispatches in Colombia fell 19.1 per cent YoY to 0.941Mt in March 2024 from 1.163Mt in March 2023, according to the nation’s statistics office, DANE. Bagged cement sales decreased by 20.2 per cent YoY while bulk cement sales were down 16.8 per cent YoY in March 2024.

The retail sector saw the largest contraction by 9.1 per YoY, followed by the construction companies and contractors segment (-4.2 per cent) and ready-mix concrete companies (-3.9 per cent). Other markets saw sales slip by 1.9 per cent YoY.

Output from the country’s cement plants declined by 9.8 per cent YoY to 1.11Mt in March 2024 from 1.231Mt.

January-March 2024
In the first three months of 2024 dispatches were down 9.1 per cent YoY to 2.863Mt from 3.151Mt in the 3M23. Bagged cement deliveries decreased by 10.2 per cent YoY while bulk deliveries declined by 6.9 per cent in the first quarter of 2024.

Retail sales fell by four per cent YoY in the 1Q24. Construction companies and contractors reduced their off-take by two per cent while sales to ready-mix concrete firms slipped 1.7 per cent YoY over the same period. Sales to other market segments reduced by 1.3 per cent YoY.

Production declined 6.4 per cent YoY to 3.419Mt from 3.202Mt in the January-March 2023 period.

Published under Cement News