Latin America and the Caribbean: Asparagus Market 2025

Asparagus Market Size in Latin America and the Caribbean

The Latin American asparagus market skyrocketed to $X in 2022, with an increase of 18% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.5% against 2020 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Asparagus Production in Latin America and the Caribbean

In value terms, asparagus production rose modestly to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Peru (X tons), Mexico (X tons) and Chile (X tons), together accounting for 98% of total production.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +10.1%), while production for the other leaders experienced a decline in the production figures.

In 2022, the average yield of asparagus in Latin America and the Caribbean dropped slightly to X tons per ha, remaining constant against 2021. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 5.8% against the previous year. Over the period under review, the asparagus yield attained the peak level at X tons per ha in 2017; however, from 2018 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of asparagus in Latin America and the Caribbean reduced modestly to X ha, flattening at 2021. The harvested area increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the harvested area increased by 6.3%. Over the period under review, the harvested area dedicated to asparagus production reached the maximum at X ha in 2021, and then shrank modestly in the following year.

Asparagus Exports

Exports in Latin America and the Caribbean

Asparagus exports reduced markedly to X tons in 2022, shrinking by -16.7% on the previous year's figure. Total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. As a result, the exports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, asparagus exports fell to $X in 2022. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when exports increased by 22% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Peru (X tons) and Mexico (X tons) represented roughly 99% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mexico (with a CAGR of +2.9%).

In value terms, Peru ($X) remains the largest asparagus supplier in Latin America and the Caribbean, comprising 67% of total exports. The second position in the ranking was taken by Mexico ($X), with a 32% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Peru stood at +2.1%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 6.4% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 24% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Mexico stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+0.7%).

Asparagus Imports

Imports in Latin America and the Caribbean

In 2022, the amount of asparagus imported in Latin America and the Caribbean fell to X tons, which is down by -10.1% compared with 2021. Over the period under review, imports saw a mild reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 50%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, asparagus imports reduced to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons), distantly followed by Chile (X tons), Colombia (X tons) and Panama (X tons) were the largest importers of asparagus, together constituting 71% of total imports. The following importers - Ecuador (X tons), Costa Rica (X tons), Bahamas (X tons), Mexico (X tons), the Dominican Republic (X tons), Aruba (X tons) and Argentina (X tons) - together made up 20% of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +49.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported asparagus in Latin America and the Caribbean, comprising 38% of total imports. The second position in the ranking was held by Chile ($X), with an 18% share of total imports. It was followed by Colombia, with an 11% share.

In Brazil, asparagus imports increased at an average annual rate of +3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (-0.4% per year) and Colombia (+9.2% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 4.3% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2016 an increase of 22% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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