Ecuador: Canned Vegetable Market 2024

Canned Vegetable Market Size in Ecuador

The Ecuadorian canned vegetable market surged to $X in 2022, picking up by 20% against the previous year. Over the period under review, consumption saw resilient growth. Canned vegetable consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Canned Vegetable Production in Ecuador

In value terms, canned vegetable production expanded modestly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 8.8%. Canned vegetable production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Canned Vegetable Exports

Exports from Ecuador

In 2022, the amount of canned vegetables exported from Ecuador reached X tons, remaining constant against 2021. Overall, exports, however, showed a slight decrease. The growth pace was the most rapid in 2020 with an increase of 29%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, canned vegetable exports rose rapidly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 36%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for canned vegetable exports from Ecuador, accounting for a 87% share of total exports. Moreover, canned vegetable exports to the United States exceeded the volume sent to the second major destination, Trinidad and Tobago (X tons), more than tenfold. Spain (X tons) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume 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 (-8.3% per year) and Spain (+5.4% per year).

In value terms, the United States ($X) remains the key foreign market for canned vegetables exports from Ecuador, comprising 87% of total exports. The second position in the ranking was held by Trinidad and Tobago ($X), with a 2.6% share of total exports. It was followed by Spain, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (-8.1% per year) and Spain (+5.5% per year).

Export Prices by Country

In 2022, the average canned vegetable export price amounted to $X per ton, with an increase of 14% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Panama ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into Ecuador

For the fourth year in a row, Ecuador recorded growth in purchases abroad of canned vegetables, which increased by 47% to X tons in 2022. In general, imports showed strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 72%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, canned vegetable imports surged to $X in 2022. Overall, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 56% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Spain (X tons), Italy (X tons) and Thailand (X tons) were the main suppliers of canned vegetable imports to Ecuador, together comprising 52% of total imports. The United States, Argentina, China, Peru and Brazil lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +862.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of canned vegetables to Ecuador, comprising 31% of total imports. The second position in the ranking was taken by Italy ($X), with an 11% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+17.0% per year) and the United States (+4.7% per year).

Import Prices by Country

In 2022, the average canned vegetable import price amounted to $X per ton, declining by -13.1% against the previous year. In general, the import price recorded a mild setback. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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