Latin America and the Caribbean: Root And Tuber Market 2024

Root And Tuber Market Size in Latin America and the Caribbean

The Latin American root and tuber market contracted to $X in 2022, standing approx. at the previous year. Overall, consumption, however, saw a mild curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Root And Tuber Production in Latin America and the Caribbean

In value terms, root and tuber production declined to $X in 2022 estimated in export price. In general, production, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Brazil (X tons) constituted the country with the largest volume of root and tuber production, accounting for X% of total volume. Moreover, root and tuber production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), threefold. Colombia (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Brazil amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Peru (X% per year) and Colombia (X% per year).

In 2022, the average yield of roots and tubers in Latin America and the Caribbean shrank slightly to X tons per ha, therefore, remained relatively stable against 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of yield peaked at X tons per ha in 2021, and then fell slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The root and tuber harvested area amounted to X ha in 2022, flattening at the previous year's figure. Overall, the harvested area, however, showed a mild downturn. The most prominent rate of growth was recorded in 2015 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the root and tuber harvested area remained at a lower figure.

Root And Tuber Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of roots and tubers decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped modestly in the following year.

In value terms, root and tuber exports reduced to $X in 2022. Total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

Costa Rica represented the main exporting country with an export of around X tons, which reached X% of total exports. Guatemala (X tons) ranks second in terms of the total exports with a X% share, followed by Mexico (X%), Argentina (X%), Ecuador (X%), Peru (X%) and Honduras (X%).

Costa Rica experienced a relatively flat trend pattern with regard to volume of exports of roots and tubers. At the same time, Peru (X%), Argentina (X%), Honduras (X%), Ecuador (X%) and Mexico (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Guatemala (X%) illustrated a downward trend over the same period. Argentina (X p.p.), Peru (X p.p.), Ecuador (X p.p.), Honduras (X p.p.) and Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Costa Rica and Guatemala saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Costa Rica ($X) remains the largest root and tuber supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

In Costa Rica, root and tuber exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ecuador (X% per year) and Mexico (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

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 Ecuador ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Root And Tuber Imports

Imports in Latin America and the Caribbean

In 2022, after two years of decline, there was growth in purchases abroad of roots and tubers, when their volume increased by X% to X tons. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, root and tuber imports skyrocketed to $X in 2022. Over the period under review, imports posted a prominent increase. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons), distantly followed by El Salvador (X tons), Paraguay (X tons), Trinidad and Tobago (X tons), the Dominican Republic (X tons) and Cuba (X tons) represented the largest importers of roots and tubers, together generating X% of total imports. Bolivia (X tons), Brazil (X tons), Honduras (X tons), Bahamas (X tons), Chile (X tons), Curacao (X tons) and Guyana (X tons) took a little share of total imports.

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

In value terms, Mexico ($X) constitutes the largest market for imported roots and tubers in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with an X% share of total imports. It was followed by El Salvador, with a X% share.

In Mexico, root and tuber imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Dominican Republic (X% per year) and El Salvador (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Bahamas ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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