Latin America and the Caribbean: Market for Peel Of Citrus Fruit Or Melons 2024

Market Size for Peel Of Citrus Fruit Or Melons in Latin America and the Caribbean

In 2021, after two years of growth, there was decline in the Latin American market for peel of citrus fruit or melons, when its value decreased by -3.2% to $X. In general, consumption continues to indicate a pronounced reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Peel Of Citrus Fruit Or Melons in Latin America and the Caribbean

In value terms, citrus fruit or melons peel production shrank to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 27%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Peel Of Citrus Fruit Or Melons

Exports in Latin America and the Caribbean

In 2021, after six years of decline, there was significant growth in shipments abroad of peel of citrus fruit or melons, when their volume increased by 70% to X tons. Overall, exports, however, saw a pronounced contraction. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, citrus fruit or melons peel exports skyrocketed to $X in 2021. In general, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 55%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Peru represented the key exporter of peel of citrus fruit or melons in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was near 46% of total exports in 2021. It was distantly followed by Mexico (X tons), Argentina (X tons) and Brazil (X tons), together comprising a 46% share of total exports. Paraguay (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to citrus fruit or melons peel exports from Peru stood at +8.5%. At the same time, Brazil (+14.2%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +14.2% from 2012-2021. By contrast, Paraguay (-1.1%), Argentina (-4.2%) and Mexico (-16.0%) illustrated a downward trend over the same period. While the share of Peru (+32 p.p.) and Brazil (+6.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-39.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest citrus fruit or melons peel supplying countries in Latin America and the Caribbean were Peru ($X), Argentina ($X) and Mexico ($X), with a combined 78% share of total exports. Brazil and Paraguay lagged somewhat behind, together accounting for a further 13%.

Brazil, with a CAGR of +11.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with a decrease of -23.2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 28%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Peel Of Citrus Fruit Or Melons

Imports in Latin America and the Caribbean

In 2021, the amount of peel of citrus fruit or melons imported in Latin America and the Caribbean shrank to X tons, with a decrease of -10.7% on 2020. In general, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 234%. Over the period under review, imports reached the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, citrus fruit or melons peel imports expanded significantly to $X in 2021. Overall, imports, however, showed prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 169%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Mexico prevails in imports structure, finishing at X tons, which was approx. 73% of total imports in 2021. Ecuador (X tons) took an 8.7% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (4.6%). Cayman Islands (X tons), Argentina (X tons) and Trinidad and Tobago (X tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of +23.5% from 2012 to 2021. At the same time, Cayman Islands (+74.7%), Argentina (+67.7%), Ecuador (+54.4%) and Brazil (+1.4%) displayed positive paces of growth. Moreover, Cayman Islands emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +74.7% from 2012-2021. By contrast, Trinidad and Tobago (-9.0%) illustrated a downward trend over the same period. While the share of Mexico (+31 p.p.), Ecuador (+8 p.p.), Cayman Islands (+4.5 p.p.) and Argentina (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Brazil (-11.2 p.p.) and Trinidad and Tobago (-12.7 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported peel of citrus fruit or melons in Latin America and the Caribbean, comprising 56% of total imports. The second position in the ranking was held by Cayman Islands ($X), with a 10% share of total imports. It was followed by Brazil, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +15.1%. The remaining importing countries recorded the following average annual rates of imports growth: Cayman Islands (+81.1% per year) and Brazil (+6.7% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 19% against the previous year. Over the period under review, the import price, however, saw a perceptible downturn. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Trinidad and Tobago ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+14.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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