Brazil: Vegetable Product Market 2024

Vegetable Product Market Size in Brazil

The Brazilian vegetable product market totaled $X in 2022, with an increase of 3% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Vegetable product consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Vegetable Product Production in Brazil

In value terms, vegetable product production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by 23%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

In 2022, the average yield of vegetable products in Brazil rose slightly to X tons per ha, surging by 2.7% compared with 2021 figures. Overall, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the yield increased by 5% against the previous year. Over the period under review, the average vegetable product yield hit record highs at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of vegetable products were harvested in Brazil; approximately equating the previous year. In general, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 5% against the previous year. The vegetable product harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area remained at a lower figure.

Vegetable Product Exports

Exports from Brazil

Vegetable product exports from Brazil dropped rapidly to X tons in 2022, with a decrease of -47.5% compared with the previous year's figure. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 1,622% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank significantly in the following year.

In value terms, vegetable product exports shrank significantly to $X in 2022. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 399% against the previous year. The exports peaked at $X in 2021, and then shrank sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for vegetable product exports from Brazil, accounting for a 68% share of total exports. Moreover, vegetable product exports to the United States exceeded the volume sent to the second major destination, the Dominican Republic (X tons), fourfold. Argentina (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +58.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-20.6% per year) and Argentina (+59.8% per year).

In value terms, the United States ($X) remains the key foreign market for vegetable products exports from Brazil, comprising 48% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with an 18% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +43.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-9.0% per year) and Germany (+80.9% per year).

Export Prices by Country

In 2022, the average vegetable product export price amounted to $X per ton, growing by 1.8% against the previous year. Overall, the export price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2015 when the average export price increased by 38% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+14.6%), while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Product Imports

Imports into Brazil

In 2022, the amount of vegetable products imported into Brazil reduced dramatically to X tons, dropping by -69.3% compared with the year before. Overall, imports saw a noticeable decrease. The pace of growth was the most pronounced in 2015 when imports increased by 589%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vegetable product imports plummeted to $X in 2022. Over the period under review, imports, however, posted measured growth. The pace of growth appeared the most rapid in 2015 with an increase of 279% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Paraguay (X tons) constituted the largest vegetable product supplier to Brazil, accounting for a 49% share of total imports. Moreover, vegetable product imports from Paraguay exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. China (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Paraguay stood at +56.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-12.1% per year) and China (-10.7% per year).

In value terms, Bolivia ($X), Spain ($X) and Paraguay ($X) constituted the largest vegetable product suppliers to Brazil, with a combined 77% share of total imports.

Bolivia, with a CAGR of +176.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, jumping by 86% against the previous year. In general, the import price showed resilient growth. The growth pace was the most rapid in 2016 when the average import price increased by 165%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bolivia ($X per ton), while the price for Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+52.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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