Ecuador: Animal Feed Market 2024

Animal Feed Market Size in Ecuador

The Ecuadorian animal feed market rose slightly to $X in 2022, picking up by 2.8% against the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Animal feed consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Animal Feed Production in Ecuador

In value terms, animal feed production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 24%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Animal Feed Exports

Exports from Ecuador

In 2022, approx. X tons of animal and pet feed were exported from Ecuador; growing by 2.8% against the year before. Overall, total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -2.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 42% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, animal feed exports amounted to $X in 2022. Over the period under review, exports showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 43% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons) was the main destination for animal feed exports from Ecuador, accounting for a 67% share of total exports. Moreover, animal feed exports to Peru exceeded the volume sent to the second major destination, Colombia (X tons), fivefold. Honduras (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+3.2% per year) and Honduras (-13.8% per year).

In value terms, Peru ($X) remains the key foreign market for animal and pet feed exports from Ecuador, comprising 58% of total exports. The second position in the ranking was taken by Colombia ($X), with a 13% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Peru totaled +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+5.4% per year) and the United States (+56.6% per year).

Export Prices by Country

In 2022, the average animal feed export price amounted to $X per ton, reducing by -2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The pace of growth appeared the most rapid in 2014 an increase of 18%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Peru ($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 Honduras (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Ecuador

Animal feed imports into Ecuador contracted to X tons in 2022, falling by -13.9% against the previous year. In general, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 when imports increased by 49%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, animal feed imports reduced to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 50% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Peru (X tons) constituted the largest animal feed supplier to Ecuador, with a 78% share of total imports. Moreover, animal feed imports from Peru exceeded the figures recorded by the second-largest supplier, Brazil (X tons), tenfold. The United States (X tons) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Peru amounted to +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+26.0% per year) and the United States (+2.8% per year).

In value terms, Peru ($X) constituted the largest supplier of animal and pet feed to Ecuador, comprising 58% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.3% share of total imports. It was followed by Brazil, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Peru totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.7% per year) and Brazil (+18.2% per year).

Import Prices by Country

The average animal feed import price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2013 an increase of 16%. The import price peaked at $X per ton in 2019; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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