Cuba: Market for Seeds, Fruit and Spores Used for Sowing 2024

Market Size for Seeds, Fruit and Spores Used for Sowing in Cuba

The Cuban market for seeds, fruit and spores used for sowing was finally on the rise to reach $X in 2021, after four years of decline. Overall, consumption showed a significant increase. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Seeds, Fruit and Spores Used for Sowing in Cuba

In value terms, production of seeds, fruit and spores used for sowing reduced to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 14%. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Seeds, Fruit and Spores Used for Sowing

Exports from Cuba

In 2021, exports of seeds, fruit and spores used for sowing from Cuba dropped modestly to X tons, shrinking by -4.8% on the previous year. Overall, exports saw a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 171% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of seeds, fruit and spores used for sowing dropped to $X in 2021. Over the period under review, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 201%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Venezuela (X tons), Colombia (X tons) and Spain (X kg) were the main destinations of exports of seeds, fruit and spores used for sowing from Cuba.

From 2012 to 2021, the biggest increases were in Colombia (with a CAGR of +8.8%), while shipments for the other leaders experienced a decline.

In value terms, Venezuela ($X) remains the key foreign market for seed, fruit and spore used for sowing exports from Cuba, comprising 98% of total exports. The second position in the ranking was taken by Colombia ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela totaled -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-19.5% per year) and Spain (-30.5% per year).

Export Prices by Country

The average export price for seeds, fruit and spores used for sowing stood at $X per ton in 2021, flattening at the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 22% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+6.8%), while the prices for the other major destinations experienced a decline.

Imports of Seeds, Fruit and Spores Used for Sowing

Imports into Cuba

In 2021, overseas purchases of seeds, fruit and spores used for sowing were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, imports, however, showed a deep contraction. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, imports of seeds, fruit and spores used for sowing surged to $X in 2021. Overall, imports, however, continue to indicate a abrupt descent. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of seed, fruit and spore used for sowing to Cuba, with a 73% share of total imports. Moreover, imports of seeds, fruit and spores used for sowing from India exceeded the figures recorded by the second-largest supplier, France (X kg), fourfold.

From 2012 to 2021, the average annual growth rate of volume from India totaled -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.0% per year) and Italy (-36.9% per year).

In value terms, France ($X) constituted the largest supplier of seed, fruit and spore used for sowing to Cuba, comprising 63% of total imports. The second position in the ranking was held by India ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual growth rate of value from France totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-7.5% per year) and Italy (-14.6% per year).

Import Prices by Country

In 2021, the average import price for seeds, fruit and spores used for sowing amounted to $X per ton, growing by 13% against the previous year. Over the period under review, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 129%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+35.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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