Latin America and the Caribbean: Dry Peas Market 2024

Dry Peas Market Size in Latin America and the Caribbean

After two years of growth, the Latin American dry peas market decreased by -5% to $X in 2021. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Dry Peas Production in Latin America and the Caribbean

In value terms, dry peas production contracted to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 38%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Argentina (X tons) constituted the country with the largest volume of dry peas production, comprising approx. 59% of total volume. Moreover, dry peas production in Argentina 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 16% share.

In Argentina, dry peas production remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Peru (-0.8% per year) and Colombia (-2.5% per year).

In 2021, the average yield of peas (dry) in Latin America and the Caribbean reduced to X tons per ha, with a decrease of -6.8% on the previous year's figure. The yield figure increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 22%. Over the period under review, the dry peas yield hit record highs at X tons per ha in 2020, and then reduced 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.

In 2021, approx. X ha of peas (dry) were harvested in Latin America and the Caribbean; approximately reflecting 2020 figures. Over the period under review, the harvested area recorded a perceptible decline. The most prominent rate of growth was recorded in 2014 with an increase of 19% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area failed to regain momentum.

Dry Peas Exports

Exports in Latin America and the Caribbean

In 2021, dry peas exports in Latin America and the Caribbean contracted dramatically to X tons, which is down by -24.3% on the previous year's figure. Overall, exports recorded a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 38% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, dry peas exports shrank sharply to $X in 2021. In general, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2020 with an increase of 11%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina dominates exports structure, resulting at X tons, which was approx. 94% of total exports in 2021. Chile (X tons) followed a long way behind the leaders.

Exports from Argentina decreased at an average annual rate of -11.8% from 2012 to 2021. At the same time, Chile (+33.5%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +33.5% from 2012-2021. From 2012 to 2021, the share of Chile increased by +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest dry peas supplier in Latin America and the Caribbean, comprising 87% of total exports. The second position in the ranking was taken by Chile ($X), with a 6% share of total exports.

In Argentina, dry peas exports shrank by an average annual rate of -10.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 11% against the previous year. In general, the export price showed a modest expansion. The most prominent rate of growth was recorded in 2013 an increase of 81%. As a result, the export price reached the peak level of $X per ton. 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, the country with the highest price was Chile ($X per ton), while Argentina stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+1.3%).

Dry Peas Imports

Imports in Latin America and the Caribbean

In 2021, after two years of growth, there was significant decline in supplies from abroad of peas (dry), when their volume decreased by -8% to X tons. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, dry peas imports amounted to $X in 2021. Total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.0% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 31%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Cuba (X tons), distantly followed by Peru (X tons), Colombia (X tons), Brazil (X tons), Venezuela (X tons) and Mexico (X tons) represented the largest importers of peas (dry), together constituting 89% of total imports. Chile (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 main importing countries, was attained by Peru (with a CAGR of +4.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dry peas importing markets in Latin America and the Caribbean were Peru ($X), Cuba ($X) and Colombia ($X), with a combined 50% share of total imports.

Peru, with a CAGR of +5.7%, recorded the highest growth rate of the value of imports, among 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 ton in 2021, growing by 10% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 19%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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