Latin America and the Caribbean: Carrot And Turnip Market 2025

Carrot And Turnip Market Size in Latin America and the Caribbean

After two years of decline, the Latin American carrot and turnip market increased by 0.9% to $X in 2022. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Carrot And Turnip Production in Latin America and the Caribbean

In value terms, carrot and turnip production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 21%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Mexico (X tons), Argentina (X tons) and Colombia (X tons), together comprising 49% of total production. Venezuela, Peru, Chile, Guatemala and Bolivia lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Bolivia (with a CAGR of +11.0%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average carrot and turnip yield in Latin America and the Caribbean totaled X tons per ha, remaining stable against 2021 figures. In general, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 4.2% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2021 to 2022, the growth of the carrot and turnip 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.

In 2022, approx. X ha of carrots and turnips were harvested in Latin America and the Caribbean; stabilizing at the previous year's figure. In general, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 8.7% against the previous year. Over the period under review, the harvested area dedicated to carrot and turnip production attained the maximum at X ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

Carrot And Turnip Exports

Exports in Latin America and the Caribbean

In 2022, the amount of carrots and turnips exported in Latin America and the Caribbean soared to X tons, rising by 26% against 2021 figures. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +8.7% 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 +91.7% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of 35%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, carrot and turnip exports skyrocketed to $X in 2022. Over the period under review, exports saw prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico represented the largest exporting country with an export of about X tons, which reached 64% of total exports. It was distantly followed by Guatemala (X tons), making up a 30% share of total exports. Costa Rica (X tons) took a relatively small share of total exports.

Exports from Mexico increased at an average annual rate of +8.5% from 2012 to 2022. At the same time, Guatemala (+13.9%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +13.9% from 2012-2022. By contrast, Costa Rica (-1.2%) illustrated a downward trend over the same period. While the share of Guatemala (+11 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Costa Rica (-7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest carrot and turnip supplier in Latin America and the Caribbean, comprising 73% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 19% share of total exports.

In Mexico, carrot and turnip exports increased at an average annual rate of +10.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guatemala (+14.6% per year) and Costa Rica (-1.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 8.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 39%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.3%), while the other leaders experienced mixed trends in the export price figures.

Carrot And Turnip Imports

Imports in Latin America and the Caribbean

In 2022, the amount of carrots and turnips imported in Latin America and the Caribbean expanded notably to X tons, growing by 9.5% on 2021. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 31% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, carrot and turnip imports surged to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -24.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 42% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, El Salvador (X tons) represented the main importer of carrots and turnips, constituting 45% of total imports. Mexico (X tons) ranks second in terms of the total imports with a 10% share, followed by Trinidad and Tobago (9.8%), Venezuela (8.2%) and Paraguay (5.8%). The following importers - Panama (X tons), Honduras (X tons), Guyana (X tons) and Nicaragua (X tons) - together made up 12% of total imports.

From 2012 to 2022, average annual rates of growth with regard to carrot and turnip imports into El Salvador stood at +3.0%. At the same time, Panama (+162.1%), Honduras (+15.6%), Venezuela (+5.1%), Guyana (+3.7%) and Paraguay (+2.7%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +162.1% from 2012-2022. Trinidad and Tobago experienced a relatively flat trend pattern. By contrast, Mexico (-1.5%) and Nicaragua (-12.2%) illustrated a downward trend over the same period. El Salvador (+7.3 p.p.), Panama (+3.7 p.p.), Venezuela (+2.6 p.p.) and Honduras (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Mexico and Nicaragua saw its share reduced by -3.3% and -6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, El Salvador ($X), Trinidad and Tobago ($X) and Mexico ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 56% of total imports. Venezuela, Guyana, Panama, Honduras, Paraguay and Nicaragua lagged somewhat behind, together accounting for a further 26%.

Panama, with a CAGR of +99.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2018 an increase of 11% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a 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 Guyana ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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