Latin America and the Caribbean: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in Latin America and the Caribbean

In 2021, the Latin American fungicide and bactericide market decreased by -12.3% to $X, falling for the second consecutive year after three years of growth. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Fungicide And Bactericide Production in Latin America and the Caribbean

In value terms, fungicide and bactericide production reached $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 31% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Fungicide And Bactericide Exports

Exports in Latin America and the Caribbean

In 2021, after two years of growth, there was decline in shipments abroad of fungicides, bactericides and seed treatments, when their volume decreased by -1.3% to X tons. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; 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 25% against the previous year. The volume of export peaked at X tons in 2020, and then reduced slightly in the following year.

In value terms, fungicide and bactericide exports rose sharply to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 9.7% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Colombia represented the largest exporting country with an export of about X tons, which finished at 49% of total exports. Brazil (X tons) held the second position in the ranking, followed by Chile (X tons), Mexico (X tons) and Costa Rica (X tons). All these countries together took near 42% share of total exports. The following exporters - Peru (X tons) and Guatemala (X tons) - each amounted to a 5.3% share of total exports.

Exports from Colombia increased at an average annual rate of +7.0% from 2012 to 2021. At the same time, Costa Rica (+7.5%) and Brazil (+3.7%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +7.5% from 2012-2021. Chile and Guatemala experienced a relatively flat trend pattern. By contrast, Peru (-1.1%) and Mexico (-2.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Colombia and Costa Rica increased by +14 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X), Brazil ($X) and Mexico ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 69% of total exports. These countries were followed by Chile, Guatemala, Costa Rica and Peru, which together accounted for a further 22%.

Guatemala, with a CAGR of +6.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 7.2% against the previous year. Overall, the export price, however, continues to indicate a noticeable setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 Guatemala ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+6.8%), while the other leaders experienced more modest paces of growth.

Fungicide And Bactericide Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of fungicides, bactericides and seed treatments increased by 1.7% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.7% against 2018 indices. The growth pace was the most rapid in 2016 when imports increased by 16% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, fungicide and bactericide imports declined to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 16% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) was the main importer of fungicides, bactericides and seed treatments, achieving 39% of total imports. It was distantly followed by Costa Rica (X tons), Colombia (X tons), Ecuador (X tons), Mexico (X tons), Guatemala (X tons) and Argentina (X tons), together generating a 38% share of total imports. The following importers - Paraguay (X tons), Peru (X tons), Chile (X tons), Bolivia (X tons) and Honduras (X tons) - together made up 17% of total imports.

From 2012 to 2021, average annual rates of growth with regard to fungicide and bactericide imports into Brazil stood at +8.1%. At the same time, Paraguay (+16.0%), Bolivia (+9.2%), Peru (+7.3%), Colombia (+6.5%), Costa Rica (+5.8%), Honduras (+5.2%), Guatemala (+5.1%), Ecuador (+3.6%) and Mexico (+1.5%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +16.0% from 2012-2021. Chile and Argentina experienced a relatively flat trend pattern. Brazil (+8.3 p.p.) and Paraguay (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Chile, Mexico and Argentina saw its share reduced by -1.7%, -2.3% and -3.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported fungicides, bactericides and seed treatments in Latin America and the Caribbean, comprising 37% of total imports. The second position in the ranking was taken by Ecuador ($X), with a 7.3% share of total imports. It was followed by Mexico, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value in Brazil was relatively modest. In the other countries, the average annual rates were as follows: Ecuador (+1.9% per year) and Mexico (+0.4% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, waning by -8.7% against the previous year. Over the period under review, the import price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when the import price increased by 9.7% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the 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 ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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