Latin America and the Caribbean: Peach And Nectarine Market 2024

Peach And Nectarine Market Size in Latin America and the Caribbean

The Latin American peach and nectarine market declined slightly to $X in 2021, with a decrease of -1.6% against the previous year. In general, consumption, however, saw a mild decline. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Peach And Nectarine Production in Latin America and the Caribbean

In value terms, peach and nectarine production contracted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 22%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

The countries with the highest volumes of production in 2021 were Chile (X tons), Argentina (X tons) and Brazil (X tons), with a combined 65% share of total production. These countries were followed by Mexico, Bolivia, Guatemala and Peru, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Bolivia (with a CAGR of +6.3%), while production for the other leaders experienced more modest paces of growth.

In 2021, the average peach and nectarine yield in Latin America and the Caribbean dropped modestly to X tons per ha, flattening at the year before. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 12% against the previous year. The level of yield peaked at X tons per ha in 2015; however, from 2016 to 2021, the 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.

The peach and nectarine harvested area stood at X ha in 2021, almost unchanged from the year before. Overall, the harvested area, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2014 when the harvested area increased by 5.4%. Over the period under review, the harvested area dedicated to peach and nectarine production attained the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Peach And Nectarine Exports

Exports in Latin America and the Caribbean

In 2021, the amount of peaches and nectarines exported in Latin America and the Caribbean fell slightly to X tons, waning by -3.7% compared with 2020 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 52%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then contracted slightly in the following year.

In value terms, peach and nectarine exports fell slightly to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 29% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Chile prevails in exports structure, accounting for X tons, which was approx. 91% of total exports in 2021. Argentina (X tons) and Panama (X tons) held a relatively small share of total exports.

Chile experienced a relatively flat trend pattern with regard to volume of exports of peaches and nectarines. At the same time, Panama (+93.3%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +93.3% from 2012-2021. By contrast, Argentina (-2.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Panama increased by +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest peach and nectarine supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Panama ($X), with a 2.3% share of total exports.

In Chile, peach and nectarine exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Panama (+73.1% per year) and Argentina (-8.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, surging by 1.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while Argentina ($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 (+0.4%), while the other leaders experienced a decline in the export price figures.

Peach And Nectarine Imports

Imports in Latin America and the Caribbean

Peach and nectarine imports skyrocketed to X tons in 2021, rising by 23% against 2020. In general, imports, however, saw a noticeable downturn. The growth pace was the most rapid in 2017 when imports increased by 55% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, peach and nectarine imports skyrocketed to $X in 2021. Overall, imports, however, showed a mild contraction. The growth pace was the most rapid in 2017 with an increase of 71%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico was the main importer of peaches and nectarines in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was approx. 62% of total imports in 2021. It was distantly followed by Brazil (X tons), generating an 18% share of total imports. Ecuador (X tons), Paraguay (X tons), Guatemala (X tons), El Salvador (X tons) and Colombia (X tons) took a minor share of total imports.

Imports into Mexico increased at an average annual rate of +2.3% from 2012 to 2021. At the same time, Paraguay (+13.2%) and Guatemala (+6.5%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +13.2% from 2012-2021. By contrast, El Salvador (-1.2%), Ecuador (-7.4%), Brazil (-8.6%) and Colombia (-17.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico and Paraguay increased by +21 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported peaches and nectarines in Latin America and the Caribbean, comprising 68% of total imports. The second position in the ranking was taken by Brazil ($X), with a 16% share of total imports. It was followed by Guatemala, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico stood at +2.6%. In the other countries, the average annual rates were as follows: Brazil (-7.6% per year) and Guatemala (+7.8% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2014 an increase of 15%. The level of import peaked in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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