Latin America and the Caribbean: Piper Pepper Market 2024

Piper Pepper Market Size in Latin America and the Caribbean

In 2022, the Latin American piper pepper market increased by 7% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +27.0% against 2020 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Piper Pepper Production in Latin America and the Caribbean

In value terms, piper pepper production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a slight reduction. The growth pace was the most rapid in 2014 when the production volume increased by 34%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Brazil (X tons) constituted the country with the largest volume of piper pepper production, comprising approx. 87% of total volume. Moreover, piper pepper production in Brazil exceeded the figures recorded by the second-largest producer, Mexico (X tons), more than tenfold.

In Brazil, piper pepper production increased at an average annual rate of +10.4% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Mexico (+10.9% per year) and Ecuador (+5.0% per year).

The average piper pepper yield shrank slightly to X tons per ha in 2022, dropping by -1.6% against the previous year's figure. The yield indicated a tangible increase from 2012 to 2022: its figure increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, piper pepper yield increased by +47.2% against 2016 indices. The pace of growth was the most pronounced in 2017 when the yield increased by 32%. 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.

In 2022, the harvested area of piper pepper in Latin America and the Caribbean reached X ha, flattening at the previous year's figure. The total harvested area indicated a prominent increase from 2012 to 2022: its figure increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, piper pepper harvested area decreased by -0.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 15%. Over the period under review, the harvested area dedicated to piper pepper production reached the maximum at X ha in 2020; afterwards, it flattened through to 2022.

Piper Pepper Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of piper pepper decreased by -6.5% to X tons, falling for the second year in a row after four years of growth. In general, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 80%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, piper pepper exports totaled $X in 2022. Total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 53% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil prevails in exports structure, accounting for X tons, which was approx. 93% of total exports in 2022. Ecuador (X tons) and Mexico (X tons) took a relatively small share of total exports.

Brazil was also the fastest-growing in terms of the piper pepper exports, with a CAGR of +11.5% from 2012 to 2022. At the same time, Ecuador (+8.6%) displayed positive paces of growth. By contrast, Mexico (-10.0%) illustrated a downward trend over the same period. Brazil (+16 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -13.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest piper pepper supplier in Latin America and the Caribbean, comprising 92% of total exports. The second position in the ranking was held by Mexico ($X), with a 3.4% share of total exports.

In Brazil, piper pepper exports expanded at an average annual rate of +4.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (-5.5% per year) and Ecuador (+2.9% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 7.1% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 when the export price increased by 56% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, 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 Mexico ($X per ton), while Ecuador ($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 (+5.0%), while the other leaders experienced a decline in the export price figures.

Piper Pepper Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of piper pepper decreased by -3.2% to X tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 14%. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, piper pepper imports rose modestly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Argentina (X tons), Peru (X tons), the Dominican Republic (X tons), Guatemala (X tons) and Chile (X tons) were the key importers of piper pepper, together making up 68% of total imports. Jamaica (X tons), Colombia (X tons), Costa Rica (X tons), Trinidad and Tobago (X tons), Panama (X tons), El Salvador (X tons) and Brazil (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +64.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest piper pepper importing markets in Latin America and the Caribbean were Mexico ($X), Argentina ($X) and the Dominican Republic ($X), with a combined 50% share of total imports. Peru, Chile, Guatemala, Colombia, Panama, Jamaica, Costa Rica, El Salvador, Brazil and Trinidad and Tobago lagged somewhat behind, together accounting for a further 35%.

In terms of the main importing countries, Panama, with a CAGR of +73.2%, saw 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 8.3% against the previous year. Over the period under review, the import price, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2021 when the import price increased by 18% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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