Ecuador: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Ecuador

In 2021, the Ecuadorian rusks and toasted bread market increased by 3% to $X, rising for the fourth year in a row after two years of decline. The market value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the near future.

Production of Rusks, Toasted Bread and Similar Toasted Products in Ecuador

In value terms, rusks and toasted bread production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 33%. Rusks and toasted bread production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Ecuador

In 2021, exports of rusks, toasted bread and similar toasted products from Ecuador fell slightly to X tons, which is down by -2.8% against the previous year. Overall, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 8,158%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, rusks and toasted bread exports reduced to $X in 2021. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 4,153% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for rusks and toasted bread exports from Ecuador, accounting for a 84% share of total exports. Moreover, rusks and toasted bread exports to Mexico exceeded the volume sent to the second major destination, Panama (X tons), more than tenfold. Peru (X tons) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico stood at +49.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-64.3% per year) and Peru (+63.2% per year).

In value terms, Mexico ($X) remains the key foreign market for rusks, toasted bread and similar toasted products exports from Ecuador, comprising 82% of total exports. The second position in the ranking was held by Panama ($X), with a 6% share of total exports. It was followed by the United States, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico stood at +43.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-67.4% per year) and the United States (+44.7% per year).

Export Prices by Country

The average rusks and toasted bread export price stood at $X per ton in 2021, with a decrease of -3.6% against the previous year. Over the period under review, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 15%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Colombia ($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 the United States (-1.8%), while the prices for the other major destinations experienced a decline.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Ecuador

In 2021, purchases abroad of rusks, toasted bread and similar toasted products increased by 82% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 730%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, rusks and toasted bread imports skyrocketed to $X in 2021. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 721% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Peru (X tons), Portugal (X tons) and Colombia (X tons) were the main suppliers of rusks and toasted bread imports to Ecuador, together accounting for 57% of total imports.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +259.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rusks and toasted bread suppliers to Ecuador were Peru ($X), Portugal ($X) and Mexico ($X), together accounting for 58% of total imports.

Portugal, with a CAGR of +237.5%, saw 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 rusks and toasted bread import price stood at $X per ton in 2021, surging by 4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 40% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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