Ecuador: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Ecuador

The Ecuadorian market for malt extract and food preparations of flour, meal, and starches declined dramatically to $X in 2022, waning by -36.5% 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, consumption saw a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Ecuador

In 2022, the amount of malt extract and food preparations of flour, meal, and starches exported from Ecuador skyrocketed to X tons, increasing by 44% compared with 2021. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 384% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of malt extract and food preparations of flour, meal, and starches soared to $X in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2014 when exports increased by 299%. Over the period under review, the exports of attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons) was the main destination for exports of malt extract and food preparations of flour, meal, and starches from Ecuador, accounting for a 61% share of total exports. Moreover, exports of malt extract and food preparations of flour, meal, and starches to Peru exceeded the volume sent to the second major destination, the United States (X tons), eightfold. The third position in this ranking was taken by Panama (X tons), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at +95.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+73.4% per year) and Panama (+186.7% per year).

In value terms, Peru ($X) remains the key foreign market for malt extract and food preparations of flour, meal, and starches exports from Ecuador, comprising 41% of total exports. The second position in the ranking was held by the United States ($X), with an 8.8% share of total exports. It was followed by Panama, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Peru stood at +103.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+71.5% per year) and Panama (+132.0% per year).

Export Prices by Country

In 2022, the average export price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, shrinking by -10.4% against the previous year. Over the period under review, the export price saw a perceptible slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by 49%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+10.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Ecuador

After two years of growth, overseas purchases of malt extract and food preparations of flour, meal, and starches decreased by -26.2% to X tons in 2022. In general, imports saw a mild setback. The growth pace was the most rapid in 2021 when imports increased by 112% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, imports of malt extract and food preparations of flour, meal, and starches reduced notably to $X in 2022. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 102%. Over the period under review, imports of attained the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Singapore (X tons), Colombia (X tons) and the United States (X tons) were the main suppliers of imports of malt extract and food preparations of flour, meal, and starches to Ecuador, with a combined 48% share of total imports. Lithuania, China, Brazil, Germany, Chile, the Netherlands, the UK and Spain lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +83.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constituted the largest supplier of malt extract and food preparations of flour, meal, and starches to Ecuador, comprising 58% of total imports. The second position in the ranking was taken by Colombia ($X), with a 7.9% share of total imports. It was followed by the United States, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore totaled -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-15.9% per year) and the United States (+1.8% per year).

Import Prices by Country

In 2022, the average import price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, flattening at the previous year. Overall, the import price, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2019 when the average import price increased by 8.5% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 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 Singapore ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+21.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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