Ecuador: Canned Food Market 2024

Canned Food Market Size in Ecuador

The Ecuadorian canned food market rose slightly to $X in 2021, with an increase of 2.4% against the previous year. In general, consumption, however, posted a resilient increase. Canned food consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Canned Food Production in Ecuador

In value terms, canned food production expanded slightly to $X in 2021 estimated in export price. Overall, production, however, saw strong growth. The growth pace was the most rapid in 2015 with an increase of 48% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Canned Food Exports

Exports from Ecuador

In 2021, overseas shipments of canned food increased by 5.3% to X tons, rising for the second year in a row after six years of decline. Overall, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 60%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, canned food exports expanded slightly to $X in 2021. In general, exports, however, faced a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 45%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for canned food exports from Ecuador, accounting for a 292% share of total exports. Moreover, canned food exports to the United States exceeded the volume sent to the second major destination, Trinidad and Tobago (X tons), sixfold. The third position in this ranking was taken by Panama (X tons), with a 27% share.

From 2012 to 2020, the average annual growth rate of volume to the United States stood at -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (+1.9% per year) and Panama (+7.7% per year).

In value terms, the United States ($X) remains the key foreign market for canned food exports from Ecuador, comprising 281% of total exports. The second position in the ranking was taken by Trinidad and Tobago ($X), with a 46% share of total exports. It was followed by Sudan, with a 31% share.

From 2012 to 2020, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (+8.7% per year) and Sudan (+52.3% per year).

Export Prices by Country

The average canned food export price stood at $X per ton in 2020, shrinking by -9.5% against the previous year. Over the period from 2012 to 2020, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 18% against the previous year. The export price peaked at $X per ton in 2019, and then reduced in the following year.

Average prices varied somewhat for the major overseas markets. In 2020, the countries with the highest prices were France ($X per ton) and Sudan ($X per ton), while the average price for exports to the United States ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Ecuador

In 2021, after two years of growth, there was decline in supplies from abroad of canned food, when their volume decreased by -0.1% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 82% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, canned food imports dropped modestly to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 123% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Peru (X tons), Chile (X tons) and Mexico (X tons) were the main suppliers of canned food imports to Ecuador, together accounting for 28% of total imports. Costa Rica, the United States, Bolivia, Spain, Argentina, China, Ireland, Colombia, Brazil and Thailand lagged somewhat behind, together comprising a further 31%.

From 2012 to 2020, the biggest increases were recorded for Bolivia (with a CAGR of +40.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Mexico ($X) and Peru ($X) constituted the largest canned food suppliers to Ecuador, with a combined 26% share of total imports. Spain, Argentina, Bolivia, Costa Rica, the United States, Ireland, Colombia, Brazil, China and Thailand lagged somewhat behind, together accounting for a further 22%.

Bolivia, with a CAGR of +35.9%, recorded the highest growth rate of 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 2020, the average canned food import price amounted to $X per ton, declining by -4.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 23%. The import price peaked at $X per ton in 2019, and then reduced in the following year.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Chile (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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