Latin America and the Caribbean: Pistachio Market 2024

Pistachio Market Size in Latin America and the Caribbean

The Latin American pistachio market rose rapidly to $X in 2022, growing by 13% against the previous year. Over the period under review, consumption continues to indicate a buoyant expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Pistachio Production in Latin America and the Caribbean

In value terms, pistachio production expanded notably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 53%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Argentina (X tons) remains the largest pistachio producing country in Latin America and the Caribbean, comprising approx. 69% of total volume. Moreover, pistachio production in Argentina exceeded the figures recorded by the second-largest producer, Peru (X tons), fivefold. The third position in this ranking was taken by Mexico (X tons), with a 13% share.

In Argentina, pistachio production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (+425.2% per year) and Mexico (+10.4% per year).

The average pistachio yield fell slightly to X tons per ha in 2022, remaining relatively unchanged against 2021. Overall, the yield faced a abrupt slump. The most prominent rate of growth was recorded in 2018 when the yield increased by 22% against the previous year. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of pistachios production in Latin America and the Caribbean rose notably to X ha, with an increase of 6% on the previous year's figure. In general, the harvested area saw a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 146%. As a result, the harvested area attained the peak level of X ha. From 2021 to 2022, the growth of the pistachio harvested area failed to regain momentum.

Pistachio Exports

Exports in Latin America and the Caribbean

In 2022, the amount of pistachios exported in Latin America and the Caribbean reduced to X tons, with a decrease of -6.1% compared with 2021 figures. In general, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 when exports increased by 357% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, pistachio exports reduced remarkably to $X in 2022. Over the period under review, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2017 when exports increased by 220% against the previous year. The level of export peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Argentina dominates exports structure, resulting at X tons, which was near 91% of total exports in 2022. It was distantly followed by Guatemala (X tons), making up a 4.6% share of total exports. Mexico (X tons) took a relatively small share of total exports.

Argentina was also the fastest-growing in terms of the pistachios exports, with a CAGR of +15.6% from 2012 to 2022. At the same time, Mexico (+11.9%) displayed positive paces of growth. By contrast, Guatemala (-3.6%) illustrated a downward trend over the same period. While the share of Argentina (+25 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Guatemala (-16.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest pistachio supplier in Latin America and the Caribbean, comprising 85% of total exports. The second position in the ranking was held by Guatemala ($X), with a 6.7% share of total exports.

In Argentina, pistachio exports expanded at an average annual rate of +12.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+2.5% per year) and Mexico (+15.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, which is down by -23.4% against the previous year. Over the period under review, the export price recorded a slight downturn. The pace of growth was the most pronounced in 2021 an increase of 34% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 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 Mexico ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+6.4%), while the other leaders experienced mixed trends in the export price figures.

Pistachio Imports

Imports in Latin America and the Caribbean

In 2022, pistachio imports in Latin America and the Caribbean soared to X tons, increasing by 21% compared with the previous year's figure. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 73%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, pistachio imports soared to $X in 2022. Overall, imports showed buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 90% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Mexico dominates imports structure, reaching X tons, which was near 76% of total imports in 2022. It was distantly followed by Brazil (X tons), creating a 6.2% share of total imports. Colombia (X tons), Peru (X tons), Chile (X tons) and Panama (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to pistachio imports into Mexico stood at +21.3%. At the same time, Panama (+85.3%), Peru (+16.8%) and Colombia (+9.9%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +85.3% from 2012-2022. Brazil and Chile experienced a relatively flat trend pattern. While the share of Mexico (+48 p.p.) and Panama (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (-4.1 p.p.) and Brazil (-9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported pistachios in Latin America and the Caribbean, comprising 73% of total imports. The second position in the ranking was held by Brazil ($X), with a 9.4% share of total imports. It was followed by Peru, with a 3.6% share.

In Mexico, pistachio imports expanded at an average annual rate of +21.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+4.4% per year) and Peru (+18.3% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 14% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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