Ecuador: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in Ecuador

In 2021, the Ecuadorian fungicide and bactericide market increased by 8.8% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Fungicide and bactericide consumption peaked in 2021 and is expected to retain growth in the near future.

Fungicide And Bactericide Exports

Exports from Ecuador

After two years of decline, shipments abroad of fungicides, bactericides and seed treatments increased by 10% to X tons in 2021. Overall, exports, however, showed a mild contraction. The growth pace was the most rapid in 2018 when exports increased by 67%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, fungicide and bactericide exports surged to $X in 2021. Over the period under review, total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -3.8% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 42% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Chile (X tons), Bolivia (X tons) and Colombia (X tons) were the main destinations of fungicide and bactericide exports from Ecuador, together accounting for 59% of total exports. These countries were followed by El Salvador, Peru, Costa Rica, the Dominican Republic and Panama, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +37.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fungicide and bactericide exported from Ecuador were Colombia ($X), Peru ($X) and Bolivia ($X), together comprising 60% of total exports. Panama, Chile, Costa Rica, the Dominican Republic and El Salvador lagged somewhat behind, together comprising a further 28%.

Panama, with a CAGR of +38.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fungicide and bactericide export price stood at $X per ton in 2021, increasing by 6% against the previous year. Overall, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fungicide and bactericide export price increased by +38.9% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 24%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to El Salvador ($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 Peru (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Fungicide And Bactericide Imports

Imports into Ecuador

In 2021, purchases abroad of fungicides, bactericides and seed treatments increased by 2.1% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, fungicide and bactericide imports rose notably to $X in 2021. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 24% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Colombia (X tons) constituted the largest fungicide and bactericide supplier to Ecuador, with a 36% share of total imports. Moreover, fungicide and bactericide imports from Colombia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Colombia amounted to -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.3% per year) and the Netherlands (+61.9% per year).

In value terms, Colombia ($X) constituted the largest supplier of fungicides, bactericides and seed treatments to Ecuador, comprising 40% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Germany, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Colombia amounted to -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.5% per year) and Germany (-0.0% per year).

Import Prices by Country

The average fungicide and bactericide import price stood at $X per ton in 2021, increasing by 8.1% against the previous year. Overall, the import price, however, showed a mild descent. The pace of growth was the most pronounced in 2014 when the average import price increased by 8.8%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($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 (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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