Ecuador: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in Ecuador

After four years of growth, the Ecuadorian market for crispbread, rusks and toasted bread decreased by -2.4% to $X in 2022. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Crispbread, rusk and toasted bread consumption peaked at $X in 2021, and then dropped in the following year.

Production of Crispbread, Rusks and Toasted Bread in Ecuador

In value terms, crispbread, rusk and toasted bread production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Crispbread, Rusks and Toasted Bread

Exports from Ecuador

In 2022, overseas shipments of crispbread, rusks and toasted bread increased by 5.9% to X tons for the first time since 2012, thus ending a nine-year declining trend. Over the period under review, exports, however, saw a abrupt decrease. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, crispbread, rusk and toasted bread exports amounted to $X in 2022. Overall, exports, however, recorded a abrupt curtailment. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for crispbread, rusk and toasted bread exports from Ecuador, accounting for a 77% share of total exports. Moreover, crispbread, rusk and toasted bread exports to Mexico exceeded the volume sent to the second major destination, Panama (X kg), sixfold. The United States (X kg) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico stood at -14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-15.7% per year) and the United States (-17.9% per year).

In value terms, Mexico ($X) remains the key foreign market for crispbread, rusks and toasted bread exports from Ecuador, comprising 72% of total exports. The second position in the ranking was held by Panama ($X), with a 16% share of total exports. It was followed by the United States, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to Mexico totaled -14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-7.4% per year) and the United States (-16.9% per year).

Export Prices by Country

The average export price for crispbread, rusks and toasted bread stood at $X per ton in 2022, rising by 1.9% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 15% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Panama ($X per ton), while the average price for exports to Mexico ($X per ton) and Costa Rica ($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 Costa Rica (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crispbread, Rusks and Toasted Bread

Imports into Ecuador

In 2022, purchases abroad of crispbread, rusks and toasted bread decreased by -19.4% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 677%. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank sharply in the following year.

In value terms, crispbread, rusk and toasted bread imports shrank remarkably to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 694% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then plummeted in the following year.

Imports by Country

Peru (X tons), Colombia (X tons) and Portugal (X tons) were the main suppliers of crispbread, rusk and toasted bread imports to Ecuador, with a combined 75% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +110.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) constituted the largest supplier of crispbread, rusks and toasted bread to Ecuador, comprising 46% of total imports. The second position in the ranking was held by Colombia ($X), with a 16% share of total imports. It was followed by Portugal, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Peru totaled +80.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+81.1% per year) and Portugal (+56.8% per year).

Import Prices by Country

In 2022, the average import price for crispbread, rusks and toasted bread amounted to $X per ton, almost unchanged from the previous year. In general, the import price, however, showed a mild decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 37% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 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 Bulgaria ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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