Ecuador: Yautia (Cocoyam) Market 2024

Yautia (Cocoyam) Market Size in Ecuador

The Ecuadorian yautia (cocoyam) market surged to $X in 2022, growing by 583% against the previous year. Overall, consumption, however, showed a slight descent. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Yautia (Cocoyam) Production in Ecuador

In value terms, yautia (cocoyam) production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, (cocoyam) production decreased by -3.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 38%. Yautia (cocoyam) production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

In 2022, the average yautia (cocoyam) yield in Ecuador stood at less than X kg per ha, remaining relatively unchanged against 2021. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the yautia (cocoyam) harvested area in Ecuador totaled less than X ha, remaining stable against the year before. Overall, the harvested area showed a relatively flat trend pattern.

Yautia (Cocoyam) Exports

Exports from Ecuador

In 2022, the amount of yautia exported from Ecuador dropped notably to X tons, declining by -43.2% compared with 2021. Over the period under review, exports, however, posted a prominent increase. The growth pace was the most rapid in 2021 with an increase of 635%. As a result, the exports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, yautia (cocoyam) exports declined notably to $X in 2022. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 708%. As a result, the exports reached the peak of $X, and then declined sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for yautia (cocoyam) exports from Ecuador, accounting for a 77% share of total exports. Moreover, yautia (cocoyam) exports to the United States exceeded the volume sent to the second major destination, the Dominican Republic (X tons), sevenfold. Canada (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+50.3% per year) and Canada (+102.2% per year).

In value terms, the United States ($X) remains the key foreign market for yautia exports from Ecuador, comprising 77% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 6.5% share of total exports. It was followed by Spain, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+47.0% per year) and Spain (+76.6% per year).

Export Prices by Country

The average yautia (cocoyam) export price stood at $X per ton in 2022, approximately mirroring the previous year. In general, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yautia (cocoyam) export price decreased by -1.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 71%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, 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 Spain ($X per ton), while the average price for exports to the Dominican Republic ($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 the Netherlands (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Yautia (Cocoyam) Imports

Imports into Ecuador

In 2018, the amount of yautia imported into Ecuador totaled X kg, stabilizing at 2017. Over the period under review, imports continue to indicate a precipitous contraction. The smallest decline of 99.9% was in 2014. Imports peaked at X tons in 2013; however, from 2014 to 2018, imports remained at a lower figure.

In value terms, yautia (cocoyam) imports stood at $X in 2018. Overall, imports recorded a sharp downturn. The smallest decline of 99.9% was in 2014. Over the period under review, (cocoyam) imports hit record highs at $X in 2013; however, from 2014 to 2018, imports failed to regain momentum.

Imports by Country

In 2018, Costa Rica (X kg) was the main yautia (cocoyam) supplier to Ecuador, with a approx. 100% share of total imports.

From 2013 to 2018, the average annual growth rate of volume from Costa Rica was relatively modest.

In value terms, Costa Rica ($X) constituted the largest supplier of yautia to Ecuador.

From 2013 to 2018, the average annual growth rate of value from Costa Rica was relatively modest.

Import Prices by Country

In 2018, the average yautia (cocoyam) import price amounted to $X per ton, leveling off at the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price decreased by 99.9%. The import price peaked in 2018 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for Costa Rica.

From 2013 to 2018, the rate of growth in terms of prices for Costa Rica amounted to 0.0% per year.

Source: IndexBox Platform

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