Latin America and the Caribbean: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Latin America and the Caribbean

In 2021, the Latin American agricultural product dryer market decreased by -12.9% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption continues to indicate a pronounced reduction. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Agricultural Product Dryer Production in Latin America and the Caribbean

In value terms, agricultural product dryer production declined to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Agricultural Product Dryer Exports

Exports in Latin America and the Caribbean

In 2021, approx. X units of dryers for the treatment of agricultural products were exported in Latin America and the Caribbean; with an increase of 129% on 2020. Over the period under review, exports, however, saw a deep reduction. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, agricultural product dryer exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a deep contraction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Argentina was the main exporting country with an export of about X units, which resulted at 50% of total exports. It was distantly followed by Brazil (X units), Costa Rica (X units), Peru (X units) and Chile (X units), together creating a 44% share of total exports. The following exporters - Colombia (X units) and Mexico (X units) - together made up 5.2% of total exports.

From 2012 to 2021, average annual rates of growth with regard to agricultural product dryer exports from Argentina stood at -7.9%. At the same time, Chile (+19.1%) and Costa Rica (+10.4%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +19.1% from 2012-2021. By contrast, Colombia (-1.8%), Peru (-3.7%), Brazil (-9.7%) and Mexico (-24.4%) illustrated a downward trend over the same period. While the share of Costa Rica (+7.9 p.p.), Chile (+4.2 p.p.) and Peru (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-4.3 p.p.) and Mexico (-11.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest agricultural product dryer supplier in Latin America and the Caribbean, comprising 58% of total exports. The second position in the ranking was taken by Argentina ($X), with a 27% share of total exports. It was followed by Costa Rica, with an 8.9% share.

In Brazil, agricultural product dryer exports declined by an average annual rate of -7.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-11.4% per year) and Costa Rica (+0.3% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, shrinking by -19.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 20% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2020, and then reduced remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+31.4%), while the other leaders experienced mixed trends in the export price figures.

Agricultural Product Dryer Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of dryers for the treatment of agricultural products were imported in Latin America and the Caribbean; surging by 7.4% against 2020. In general, imports, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2019 with an increase of 2,877% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, agricultural product dryer imports declined slightly to $X in 2021. Over the period under review, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 68%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X units), followed by Paraguay (X units), Colombia (X units), El Salvador (X units), Argentina (X units), Peru (X units) and Nicaragua (X units) represented the largest importers of dryers for the treatment of agricultural products, together constituting 65% of total imports. Honduras (X units), Haiti (X units), Jamaica (X units), Bolivia (X units), Chile (X units) and the Dominican Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Haiti (with a CAGR of +44.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Paraguay ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 42% share of total imports. These countries were followed by Argentina, Chile, Peru, Nicaragua, Honduras, the Dominican Republic, Bolivia, El Salvador, Jamaica and Haiti, which together accounted for a further 38%.

Argentina, with a CAGR of +32.6%, saw the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per unit in 2021, waning by -10.9% against the previous year. Over the period under review, the import price showed a noticeable descent. The pace of growth appeared the most rapid in 2020 an increase of 2,096% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per unit), while Haiti ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+15.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :