Cassava Market in Latin America and the Caribbean - Brazil Is the Largest Market with a Steady Decline

IndexBox has just published a new report: 'Latin America and the Caribbean - Cassava - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The revenue of the cassava market in Latin America and the Caribbean amounted to $X in 2018, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, cassava consumption continues to indicate a mild contraction.

Consumption By Country

The country with the largest volume of cassava consumption was Brazil (X tons), accounting for X% of total consumption. Moreover, cassava consumption in Brazil exceeded the figures recorded by the region's second-largest consumer, Paraguay (X tons), sixfold. Colombia (X tons) ranked third in terms of total consumption with a X% share.

In Brazil, cassava consumption shrank by an average annual rate of -X% over the period from 2007-2018. The remaining consuming countries recorded the following average annual rates of consumption growth: Paraguay (+X% per year) and Colombia (+X% per year).

In value terms, Brazil ($X) led the market, alone. The second position in the ranking was occupied by Paraguay ($X). It was followed by Colombia.

In 2018, the highest levels of cassava per capita consumption was registered in Paraguay (X kg per person), followed by Brazil (X kg per person), Cuba (X kg per person) and Haiti (X kg per person), while the world average per capita consumption of cassava was estimated at X kg per person.

In Paraguay, cassava per capita consumption increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Brazil (-X% per year) and Cuba (+X% per year).

Production in Latin America and the Caribbean

In 2018, the amount of cassava produced in Latin America and the Caribbean totaled X tons, falling by -X% against the previous year. In general, cassava production continues to indicate a mild descent. The pace of growth was the most pronounced in 2014 with an increase of X% y-o-y. The volume of cassava production peaked at X tons in 2008; however, from 2009 to 2018, production remained at a lower figure. The general negative trend in terms of cassava output was largely conditioned by a mild deduction of the harvested area and a relatively flat trend pattern in yield figures.

Production By Country

Brazil (X tons) remains the largest cassava producing country in Latin America and the Caribbean, comprising approx. X% of total production. Moreover, cassava production in Brazil exceeded the figures recorded by the region's second-largest producer, Paraguay (X tons), sixfold. Colombia (X tons) ranked third in terms of total production with a X% share.

In Brazil, cassava production plunged by an average annual rate of -X% over the period from 2007-2018. The remaining producing countries recorded the following average annual rates of production growth: Paraguay (+X% per year) and Colombia (+X% per year).

Harvested Area

The cassava harvested area totaled X ha in 2018, shrinking by -X% against the previous year. Overall, the cassava harvested area continues to indicate a measured slump. The growth pace was the most rapid in 2010 when harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to cassava production attained its maximum at X ha in 2007; however, from 2008 to 2018, harvested area stood at a somewhat lower figure.

Yield

The average cassava yield stood at X ton per ha in 2018, approximately mirroring the previous year. In general, the cassava yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. Over the period under review, the cassava yield attained its peak figure level at X ton per ha in 2015; however, from 2016 to 2018, yield stood at a somewhat lower figure.

Exports in Latin America and the Caribbean

In 2018, the cassava exports in Latin America and the Caribbean totaled X tons, dropping by -X% against the previous year. Overall, cassava exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% y-o-y. In that year, cassava exports reached their peak of X tons. From 2017 to 2018, the growth of cassava exports remained at a somewhat lower figure.

In value terms, cassava exports totaled $X (IndexBox estimates) in 2018. The total exports indicated a strong increase from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, cassava exports increased by +X% against 2012 indices. The growth pace was the most rapid in 2008 when exports increased by X% year-to-year. The level of exports peaked in 2018 and are likely to continue its growth in the near future.

Exports by Country

Costa Rica prevails in cassava exports structure, accounting for X tons, which was approx. X% of total exports in 2018. Nicaragua (X tons), Honduras (X tons) and Peru (X tons) held a minor share of total exports.

Costa Rica experienced a relatively flat trend pattern of cassava exports. At the same time, Peru (+X%), Honduras (+X%) and Nicaragua (+X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter in Latin America and the Caribbean, with a CAGR of +X% from 2007-2018. From 2007 to 2018, the share of Costa Rica, Peru and Honduras increased by +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Costa Rica ($X) remains the largest cassava supplier in Latin America and the Caribbean, comprising X% of total cassava exports. The second position in the ranking was occupied by Honduras ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Costa Rica stood at +X%. In the other countries, the average annual rates were as follows: Honduras (+X% per year) and Nicaragua (+X% per year).

Export Prices by Country

The cassava export price in Latin America and the Caribbean stood at $X per ton in 2018, jumping by X% against the previous year. The export price indicated a buoyant increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, cassava export price increased by +X% against 2014 indices. The most prominent rate of growth was recorded in 2008 when the export price increased by X% against the previous year. Over the period under review, the export prices for cassava reached their maximum in 2018 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Honduras ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Honduras, while the other leaders experienced more modest paces of growth.

Imports in Latin America and the Caribbean

In 2018, the cassava imports in Latin America and the Caribbean stood at X tons, going up by X% against the previous year. In general, cassava imports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. The volume of imports peaked at X tons in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, cassava imports totaled $X (IndexBox estimates) in 2018. The total imports indicated a temperate expansion from 2007 to 2018: its value decreased at an average annual rate of -X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, cassava imports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% year-to-year. The level of imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, El Salvador (X tons) represented the main importer of cassava, committing X% of total imports. It was distantly followed by Chile (X tons), constituting a X% share of total imports. Brazil (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to cassava imports into El Salvador stood at +X%. At the same time, Chile (+X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer in Latin America and the Caribbean, with a CAGR of +X% from 2007-2018. Colombia experienced a relatively flat trend pattern. By contrast, Brazil (-X%) illustrated a downward trend over the same period. While the share of Chile (+X p.p.) and El Salvador (+X p.p.) increased significantly in terms of the total imports from 2007-2018, the share of Brazil (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, El Salvador ($X) constitutes the largest market for imported cassava in Latin America and the Caribbean, comprising X% of total cassava imports. The second position in the ranking was occupied by Chile ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in El Salvador stood at +X%. In the other countries, the average annual rates were as follows: Chile (+X% per year) and Colombia (+X% per year).

Import Prices by Country

The cassava import price in Latin America and the Caribbean stood at $X per ton in 2018, declining by -X% against the previous year. The import price indicated a remarkable increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, cassava import price increased by +X% against 2010 indices. The most prominent rate of growth was recorded in 2008 when the import price increased by X% year-to-year. The level of import price peaked at $X per ton in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Colombia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Brazil, while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform