diff --git a/openpype/hosts/nuke/plugins/publish/extract_render_local.py b/openpype/hosts/nuke/plugins/publish/extract_render_local.py
index 3588a16c80..dbe48de986 100644
--- a/openpype/hosts/nuke/plugins/publish/extract_render_local.py
+++ b/openpype/hosts/nuke/plugins/publish/extract_render_local.py
@@ -21,10 +21,6 @@ class NukeRenderLocal(publish.ExtractorColormanaged):
     families = ["render.local", "prerender.local", "still.local"]
 
     def process(self, instance):
-        # get colorspace settings data
-        config_data, file_rules = self.get_colorspace_settings(
-            instance.context)
-
         families = instance.data["families"]
 
         node = None
@@ -98,7 +94,6 @@ class NukeRenderLocal(publish.ExtractorColormanaged):
         # inject colorspace data
         self.set_representation_colorspace(
             repre, instance.context,
-            config_data, file_rules,
             colorspace=colorspace
         )
 
diff --git a/openpype/pipeline/publish/publish_plugins.py b/openpype/pipeline/publish/publish_plugins.py
index b1ef58beed..c1220de8ad 100644
--- a/openpype/pipeline/publish/publish_plugins.py
+++ b/openpype/pipeline/publish/publish_plugins.py
@@ -317,6 +317,9 @@ class ExtractorColormanaged(Extractor):
         Returns:
             tuple | bool: config, file rules or None
         """
+        if "imageioSettings" in context.data:
+            return context.data["imageioSettings"]
+
         project_name = context.data["projectName"]
         host_name = context.data["hostName"]
         anatomy_data = context.data["anatomyData"]
@@ -331,12 +334,16 @@ class ExtractorColormanaged(Extractor):
             project_name, host_name,
             project_settings=project_settings_
         )
+
+        # caching settings for future instance processing
+        context.data["imageioSettings"] = (config_data, file_rules)
+
         return config_data, file_rules
 
     def set_representation_colorspace(
         self, representation, context,
-        config_data, file_rules,
-        colorspace=None
+        colorspace=None,
+        colorspace_settings=None
     ):
         """Sets colorspace data to representation.
 
@@ -346,6 +353,9 @@ class ExtractorColormanaged(Extractor):
             config_data (dict): host resolved config data
             file_rules (dict): host resolved file rules data
             colorspace (str, optional): colorspace name. Defaults to None.
+            colorspace_settings (tuple[dict, dict], optional):
+                Settings for config_data and file_rules.
+                Defaults to None.
 
         Example:
             ```
@@ -362,6 +372,12 @@ class ExtractorColormanaged(Extractor):
             ```
 
         """
+        if colorspace_settings is None:
+            colorspace_settings = self.get_colorspace_settings(context)
+
+        # unpack colorspace settings
+        config_data, file_rules = colorspace_settings
+
         if not config_data:
             # warn in case no colorspace path was defined
             self.log.warning("No colorspace management was defined")
diff --git a/openpype/plugins/publish/extract_colorspace_data.py b/openpype/plugins/publish/extract_colorspace_data.py
index 64edba2fb4..5f76cc2314 100644
--- a/openpype/plugins/publish/extract_colorspace_data.py
+++ b/openpype/plugins/publish/extract_colorspace_data.py
@@ -35,7 +35,6 @@ class ExtractColorspaceData(publish.ExtractorColormanaged):
 
         # get colorspace settings
         context = instance.context
-        config_data, file_rules = self.get_colorspace_settings(context)
 
         # loop representations
         for representation in representations:
@@ -44,6 +43,5 @@ class ExtractColorspaceData(publish.ExtractorColormanaged):
                 continue
 
             self.set_representation_colorspace(
-                representation, context,
-                config_data, file_rules
+                representation, context
             )