Ecuador: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Ecuador

The Ecuadorian breakfast cereal market expanded markedly to $X in 2021, surging by X% against the previous year. Over the period under review, consumption posted a prominent increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Breakfast Cereal Production in Ecuador

In value terms, breakfast cereal production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Breakfast cereal production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Breakfast Cereal Exports

Exports from Ecuador

In 2021, breakfast cereal exports from Ecuador surged to X tons, picking up by X% on the year before. Overall, exports posted noticeable growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, breakfast cereal exports skyrocketed to $X in 2021. In general, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for breakfast cereal exports from Ecuador, accounting for a X% share of total exports. Moreover, breakfast cereal exports to the United States exceeded the volume sent to the second major destination, Panama (X tons), more than tenfold. The third position in this ranking was held by Mexico (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+X% per year) and Mexico (+X% per year).

In value terms, the United States ($X) remains the key foreign market for breakfast cereal exports from Ecuador, comprising X% of total exports. The second position in the ranking was taken by Panama ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+X% per year) and Chile (+X% per year).

Export Prices by Country

The average breakfast cereal export price stood at $X per ton in 2021, picking up by X% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Chile ($X per ton), while the average price for exports to Spain ($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 Panama (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Breakfast Cereal Imports

Imports into Ecuador

After two years of growth, purchases abroad of breakfast cereals decreased by -X% to X tons in 2021. Over the period under review, imports saw a pronounced setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, breakfast cereal imports reduced to $X in 2021. Overall, imports recorded a perceptible slump. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Chile (X tons), Colombia (X tons) and Peru (X tons) were the main suppliers of breakfast cereal imports to Ecuador, together comprising X% of total imports. Mexico and the United States lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in the United States (with a CAGR of +X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest breakfast cereal suppliers to Ecuador were Chile ($X), Colombia ($X) and Peru ($X), together accounting for X% of total imports. The United States and Mexico lagged somewhat behind, together accounting for a further X United States, with a CAGR of +X%, recorded 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 a decline.

Import Prices by Country

In 2021, the average breakfast cereal import price amounted to $X per ton, falling by -X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by the United States (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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