Ecuador: Frozen Potato Market 2024

Frozen Potato Market Size in Ecuador

The Ecuadorian frozen potato market surged to $X in 2021, jumping by 48% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Frozen Potato Exports

Exports from Ecuador

For the third consecutive year, Ecuador recorded growth in overseas shipments of frozen potatoes, which increased by 47% to X tons in 2021. Over the period under review, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 282%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, frozen potato exports soared to $X in 2021. In general, exports showed a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 278%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for frozen potato exports from Ecuador, accounting for a 86% share of total exports. Moreover, frozen potato 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 taken by Canada (X tons), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+1,266.6% per year) and Canada (+176.4% per year).

In value terms, the United States ($X) remains the key foreign market for frozen potatoes exports from Ecuador, comprising 82% of total exports. The second position in the ranking was held by Panama ($X), with a 12% share of total exports. It was followed by Canada, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+336.9% per year) and Canada (+124.0% per year).

Export Prices by Country

The average frozen potato export price stood at $X per ton in 2021, shrinking by -4.6% against the previous year. Overall, the export price showed a pronounced contraction. The growth pace was the most rapid in 2019 an increase of 18% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to the United States ($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 Japan (-1.2%), while the prices for the other major destinations experienced a decline.

Frozen Potato Imports

Imports into Ecuador

In 2021, the amount of frozen potatoes imported into Ecuador skyrocketed to X tons, increasing by 49% on the year before. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen potato imports skyrocketed to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Argentina (X tons) were the main suppliers of frozen potato imports to Ecuador, with a combined 50% share of total imports. These countries were followed by France, Germany, Spain, Canada and the United States, which together accounted for a further 4%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +69.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen potato suppliers to Ecuador were the Netherlands ($X), Belgium ($X) and Argentina ($X), together accounting for 53% of total imports. These countries were followed by France, Germany, Spain, Canada and the United States, which together accounted for a further 4.8%.

Spain, with a CAGR of +73.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen potato import price stood at $X per ton in 2021, leveling off at the previous year. In general, the import price continues to indicate a mild contraction. The pace of growth was the most pronounced in 2013 when the average import price increased by 7.1% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($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 (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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