Ecuador: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in Ecuador

The Ecuadorian preserved frozen potato market surged to $X in 2021, growing 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). Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.3% 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.

Preserved Frozen Potato Exports

Exports from Ecuador

Preserved frozen potato exports from Ecuador skyrocketed to X tons in 2021, rising by 38% against the previous year. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 615%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, preserved frozen potato exports skyrocketed to $X in 2021. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 627%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for preserved frozen potato exports from Ecuador, with a 81% share of total exports. Moreover, preserved frozen potato exports to the United States exceeded the volume sent to the second major destination, Panama (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +119.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+1,266.6% per year) and Jamaica (-25.5% per year).

In value terms, the United States ($X) remains the key foreign market for frozen potatoes prepared or preserved exports from Ecuador, comprising 83% of total exports. The second position in the ranking was taken by Panama ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +88.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+336.9% per year) and Jamaica (-33.5% per year).

Export Prices by Country

In 2021, the average preserved frozen potato export price amounted to $X per ton, increasing by 2.7% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 103%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Jamaica ($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 South Africa (-0.9%), while the prices for the other major destinations experienced a decline.

Preserved Frozen Potato Imports

Imports into Ecuador

In 2021, approx. X tons of frozen potatoes prepared or preserved were imported into Ecuador; with an increase of 49% compared with 2020. Over the period under review, total imports indicated a resilient expansion 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, preserved frozen potato imports soared to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.4% 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.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Argentina (X tons) were the main suppliers of preserved frozen potato imports to Ecuador, together accounting for 50% of total imports. France, Germany, Canada and the United States lagged somewhat behind, together comprising a further 3.1%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +46.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Argentina ($X) constituted the largest preserved frozen potato suppliers to Ecuador, together accounting for 53% of total imports. These countries were followed by France, Germany, Canada and the United States, which together accounted for a further 3.9%.

France, with a CAGR of +53.2%, recorded the highest rates of growth with regard to 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 preserved frozen potato import price stood at $X per ton in 2021, almost unchanged from the previous year. Over the period under review, the import price continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2013 an increase of 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 failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Belgium ($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 (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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