Latin America and the Caribbean: Non-Wheat Flour Market 2024

Non-Wheat Flour Market Size in Latin America and the Caribbean

The Latin American non-wheat flour market declined to $X in 2021, which is down by -1.6% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Non-Wheat Flour Production in Latin America and the Caribbean

In value terms, non-wheat flour production contracted modestly to $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 appeared the most rapid in 2013 with an increase of 5% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Non-Wheat Flour Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tons of non-wheat flours were exported in Latin America and the Caribbean; declining by -14.9% compared with the year before. Overall, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 105%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, non-wheat flour exports shrank to $X in 2021. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 128% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Mexico was the major exporter of non-wheat flours in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. 44% of total exports in 2021. It was distantly followed by Brazil (X tons), El Salvador (X tons) and Colombia (X tons), together achieving a 42% share of total exports. The following exporters - the Dominican Republic (X tons), Honduras (X tons) and Costa Rica (X tons) - together made up 9.7% of total exports.

Exports from Mexico increased at an average annual rate of +14.6% from 2012 to 2021. At the same time, the Dominican Republic (+39.0%), Costa Rica (+14.3%), Honduras (+13.7%), Colombia (+13.6%) and Brazil (+1.1%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +39.0% from 2012-2021. By contrast, El Salvador (-1.5%) illustrated a downward trend over the same period. While the share of Mexico (+20 p.p.), Colombia (+4 p.p.), the Dominican Republic (+3.6 p.p.) and Honduras (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-13.6 p.p.) and El Salvador (-15.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest non-wheat flour supplier in Latin America and the Caribbean, comprising 45% of total exports. The second position in the ranking was held by Brazil ($X), with a 15% share of total exports. It was followed by Colombia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +13.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+1.2% per year) and Colombia (+10.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 9.6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 11%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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 Colombia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+0.1%), while the other leaders experienced a decline in the export price figures.

Non-Wheat Flour Imports

Imports in Latin America and the Caribbean

After two years of growth, overseas purchases of non-wheat flours decreased by -16.4% to X tons in 2021. Over the period under review, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 35% against the previous year. As a result, imports reached the peak of X tons, and then contracted rapidly in the following year.

In value terms, non-wheat flour imports reduced to $X in 2021. In general, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 36%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Honduras (X tons) and Venezuela (X tons) represented roughly 28% of total imports in 2021. Haiti (X tons) took the next position in the ranking, followed by Nicaragua (X tons), Peru (X tons), Guatemala (X tons), Chile (X tons), El Salvador (X tons) and Mexico (X tons). All these countries together took approx. 50% share of total imports. Costa Rica (X tons), Ecuador (X tons), Panama (X tons) and Trinidad and Tobago (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Panama (with a CAGR of +84.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-wheat flour importing markets in Latin America and the Caribbean were Honduras ($X), Venezuela ($X) and Chile ($X), together comprising 34% of total imports. These countries were followed by Peru, Nicaragua, Guatemala, Mexico, Haiti, El Salvador, Ecuador, Panama, Costa Rica and Trinidad and Tobago, which together accounted for a further 56%.

Panama, with a CAGR of +86.0%, 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, growing by 5.8% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 5.8% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Panama ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Venezuela (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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