Latin America and the Caribbean: Green Peas Market 2025

Green Peas Market Size in Latin America and the Caribbean

The Latin American green peas market stood at $X in 2022, surging by 2.4% against the previous year. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Green Peas Production in Latin America and the Caribbean

In value terms, green peas production rose to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 16% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Peru (X tons), Mexico (X tons) and Guatemala (X tons), with a combined 74% share of total production. Argentina, Bolivia, Ecuador and Chile lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +14.4%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average green peas yield in Latin America and the Caribbean reduced modestly to X tons per ha, therefore, remained relatively stable against 2021. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 4.8% against the previous year. The level of yield peaked at X tons per ha in 2021, and then contracted 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 green peas harvested area fell modestly to X ha in 2022, approximately equating the year before. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 5.9%. Over the period under review, the harvested area dedicated to green peas production attained the maximum at X ha in 2021, and then contracted slightly in the following year.

Green Peas Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of peas (green) decreased by -14.6% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 23% against the previous year. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, green peas exports dropped to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 2017 with an increase of 13% against the previous year. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

Guatemala represented the major exporter of peas (green) in Latin America and the Caribbean, with the volume of exports reaching X tons, which was near 55% of total exports in 2022. Mexico (X tons) held a 27% share (based on physical terms) of total exports, which put it in second place, followed by Peru (18%).

Exports from Guatemala decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Peru (+6.0%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +6.0% from 2012-2022. Mexico experienced a relatively flat trend pattern. From 2012 to 2022, the share of Peru increased by +8.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X) remains the largest green peas supplier in Latin America and the Caribbean, comprising 55% of total exports. The second position in the ranking was taken by Peru ($X), with a 25% share of total exports.

In Guatemala, green peas exports expanded at an average annual rate of +3.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (+6.3% per year) and Mexico (+7.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 3.6% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, green peas export price decreased by -5.0% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 17% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 Peru ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+7.3%), while the other leaders experienced more modest paces of growth.

Green Peas Imports

Imports in Latin America and the Caribbean

After three years of growth, supplies from abroad of peas (green) decreased by -13.1% to X tons in 2022. Over the period under review, imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 116% against the previous year. The volume of import peaked at X tons in 2021, and then dropped in the following year.

In value terms, green peas imports amounted to $X in 2022. In general, imports, however, saw a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 107%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

Peru (X tons) and Colombia (X tons) represented the key importers of peas (green) in 2022, amounting to near 41% and 28% of total imports, respectively. It was distantly followed by Mexico (X tons), committing a 14% share of total imports. Venezuela (X tons), Chile (X tons), Panama (X tons) and El Salvador (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mexico (with a CAGR of +63.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest green peas importing markets in Latin America and the Caribbean were Colombia ($X), Mexico ($X) and Peru ($X), together comprising 83% of total imports.

Among the main importing countries, Mexico, with a CAGR of +65.7%, recorded the highest rates of growth with regard to the value of imports, 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 2022, increasing by 22% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, green peas import price increased by +74.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 27% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 Mexico ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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