Ecuador: Dry Peas Market 2024

Dry Peas Market Size in Ecuador

The Ecuadorian dry peas market declined sharply to $X in 2021, which is down by -19.1% against the previous year. In general, consumption continues to indicate a mild setback. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Dry Peas Production in Ecuador

In value terms, dry peas production dropped sharply to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 103%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

In 2021, the average yield of peas (dry) in Ecuador dropped modestly to X kg per ha, with a decrease of -2.1% against 2020 figures. Over the period under review, the yield indicated strong growth from 2012 to 2021: its figure increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dry peas yield increased by +50.7% against 2018 indices. The pace of growth was the most pronounced in 2019 when the yield increased by 44% against the previous year. The dry peas yield peaked at X kg per ha in 2020, and then dropped slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of peas (dry) production in Ecuador dropped dramatically to X ha, waning by -24.8% on 2020 figures. In general, the harvested area continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 98%. Over the period under review, the harvested area dedicated to dry peas production reached the maximum at X ha in 2016; however, from 2017 to 2021, the harvested area stood at a somewhat lower figure.

Dry Peas Exports

Exports from Ecuador

In 2021, overseas shipments of peas (dry) were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a pronounced slump. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, dry peas exports surged to $X in 2021. Overall, exports, however, continue to indicate a perceptible descent. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for dry peas exports from Ecuador, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) also remains the key foreign market for dry peas exports from Ecuador.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -1.8%.

Export Prices by Country

The average dry peas export price stood at $X per ton in 2021, growing by 37% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for Canada amounted to +8.7% per year.

Dry Peas Imports

Imports into Ecuador

Dry peas imports into Ecuador reduced notably to X tons in 2021, shrinking by -27.1% compared with the previous year's figure. Overall, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2020 with an increase of 68% against the previous year. As a result, imports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, dry peas imports fell to $X in 2021. In general, imports recorded a pronounced curtailment. The growth pace was the most rapid in 2020 with an increase of 76% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest dry peas supplier to Ecuador, with a 78% share of total imports. Moreover, dry peas imports from Canada exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from Canada amounted to -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (0.0% per year) and the United States (+1.0% per year).

In value terms, Canada ($X) constituted the largest supplier of dry peas to Ecuador, comprising 70% of total imports. The second position in the ranking was taken by Argentina ($X), with a 17% share of total imports. It was followed by Peru, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value from Canada amounted to -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (0.0% per year) and Peru (-3.3% per year).

Import Prices by Country

The average dry peas import price stood at $X per ton in 2021, growing by 18% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 41%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Peru ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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