Ecuador: Insecticide Market 2024

Insecticide Market Size in Ecuador

In 2021, the Ecuadorian insecticide market increased by 7% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.4% against 2019 indices. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Insecticide Exports

Exports from Ecuador

In 2021, the amount of insecticides exported from Ecuador surged to X tons, picking up by 75% on the year before. In general, exports enjoyed moderate growth. The pace of growth was the most pronounced in 2015 with an increase of 97%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, insecticide exports soared to $X in 2021. Over the period under review, exports continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2015 with an increase of 178% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Paraguay (X tons), Colombia (X tons) and the Dominican Republic (X tons) were the main destinations of insecticide exports from Ecuador, together comprising 71% of total exports.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of +181.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) emerged as the key foreign market for insecticides exports from Ecuador, comprising 42% of total exports. The second position in the ranking was held by Peru ($X), with a 12% share of total exports. It was followed by Paraguay, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+4.0% per year) and Paraguay (+126.3% per year).

Export Prices by Country

The average insecticide export price stood at $X per ton in 2021, growing by 18% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 42% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Paraguay ($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 Bolivia (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Insecticide Imports

Imports into Ecuador

In 2021, the amount of insecticides imported into Ecuador was estimated at X tons, picking up by 3% compared with the year before. Overall, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +18.4% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 29% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, insecticide imports totaled $X in 2021. In general, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 37% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest insecticide supplier to Ecuador, accounting for a 47% share of total imports. Moreover, insecticide imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), fivefold. The third position in this ranking was taken by India (X tons), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-0.5% per year) and India (+11.1% per year).

In value terms, China ($X), the United States ($X) and Colombia ($X) constituted the largest insecticide suppliers to Ecuador, together comprising 59% of total imports. India, Guatemala, Mexico, Brazil and Peru lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, Guatemala, with a CAGR of +16.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average insecticide import price stood at $X per ton in 2021, with an increase of 6.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2016 an increase of 30%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 ($X per ton), while the price for China ($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 (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :