Ecuador: Vegetable Product Market 2024

Vegetable Product Market Size in Ecuador

The Ecuadorian vegetable product market totaled $X in 2022, almost unchanged from the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Vegetable Product Production in Ecuador

In value terms, vegetable product production reached $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 28%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

In 2022, the average vegetable product yield in Ecuador reduced to X tons per ha, waning by -4.9% compared with 2021. Overall, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by 20%. Over the period under review, the average vegetable product yield attained the peak level at X tons per ha in 2015; however, from 2016 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The vegetable product harvested area in Ecuador rose modestly to X ha in 2022, surging by 3.5% against 2021 figures. The harvested area increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 23% against the previous year. The vegetable product harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Vegetable Product Exports

Exports from Ecuador

In 2022, overseas shipments of vegetable products were finally on the rise to reach X tons after nine years of decline. Overall, exports, however, continue to indicate a abrupt decline. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, vegetable product exports skyrocketed to $X in 2022. In general, exports, however, saw a significant contraction. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for vegetable product exports from Ecuador, accounting for a 98% share of total exports. It was followed by Canada (X kg), with a 0.9% share of total exports. The United States (X kg) ranked third in terms of total exports with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-31.9% per year) and the United States (-41.8% per year).

In value terms, China ($X) remains the key foreign market for vegetable products exports from Ecuador, comprising 96% of total exports. The second position in the ranking was held by the United States ($X), with a 1.2% share of total exports. It was followed by Canada, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-41.2% per year) and Canada (-33.1% per year).

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, shrinking by -10.3% against the previous year. Overall, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 29%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Chile ($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 France (+54.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Product Imports

Imports into Ecuador

In 2022, vegetable product imports into Ecuador skyrocketed to X tons, with an increase of 20% compared with the previous year's figure. Over the period under review, imports recorded a tangible expansion. The most prominent rate of growth was recorded in 2021 with an increase of 744%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, vegetable product imports reduced to $X in 2022. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 583% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

The United States (X tons), China (X tons) and Germany (X kg) were the main suppliers of vegetable product imports to Ecuador, together accounting for 99% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +99.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest vegetable product suppliers to Ecuador were China ($X), the United States ($X) and Germany ($X), together comprising 93% of total imports.

Among the main suppliers, China, with a CAGR of +131.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average vegetable product import price stood at $X per ton in 2022, declining by -17.2% against the previous year. Over the period under review, the import price, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 51%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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