By Jose
Campo, Commercial Vice President of the DAABON Group
In Colombia,
the retail cooking oil sector has
shown growth in both demand and supply over recent years. Between 2017
and
2019, the production of C.I Tequendama presented an exponential
increase,
achieving a growth of 202%. However, COVID-19 halted this year-on-year
growth
as the pandemic unfolded and led to numerous restrictive measures, such
as
lockdowns and forced closures in the hospitality sector. This was
reflected in a
9% decrease in sales in 2020 compared to 2019. Nevertheless, the lifting
of various
restrictions imposed by the national government and the purchase and
development of new technologies have been key to the good development of
the
company throughout 2021. At the beginning of the 2021 a modern high
speed bottling
plant was up and running smoothly, generating greater trust and
reliability for
our customers. This trust has been reflected in our having attracted
more retail
buyers, going from two retailers in 2017 to business relationships with
more
than seven large retailers in 2021, reaching a volume of more than
35,000MT/year. The growth between 2017 and 2021 was 1485% and it is
predicted
to continue growing over the coming years.
The national
market is expected to continue
growing with new private label brands and more potential retail
customers who
will help us become one of the leaders in the production of retail
cooking oil.
We hope to continue to be differentiated by our pillars in
sustainability,
organic agriculture and innovation, that should enable us to remain
unique in
the Colombian market.