Latin America and the Caribbean: Plum And Sloe Market 2024

Plum And Sloe Market Size in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in the Latin American plum and sloe market, when its value decreased by -19.5% to $X. Over the period under review, consumption recorded a pronounced decline. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Plum And Sloe Production in Latin America and the Caribbean

In value terms, plum and sloe production reached $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 92%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

The country with the largest volume of plum and sloe production was Chile (X tons), comprising approx. 69% of total volume. Moreover, plum and sloe production in Chile exceeded the figures recorded by the second-largest producer, Mexico (X tons), fivefold. The third position in this ranking was held by Argentina (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume in Chile amounted to +3.1%. The remaining producing countries recorded the following average annual rates of production growth: Mexico (+2.9% per year) and Argentina (-13.5% per year).

In 2022, the average yield of plums and sloes in Latin America and the Caribbean fell slightly to X tons per ha, therefore, remained relatively stable against the previous year's figure. In general, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the yield increased by 35% 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 harvested area of plums and sloes in Latin America and the Caribbean was estimated at X ha, approximately reflecting the previous year. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the harvested area increased by 25%. As a result, the harvested area reached the peak level of X ha. From 2015 to 2022, the growth of the plum and sloe harvested area remained at a lower figure.

Plum And Sloe Exports

Exports in Latin America and the Caribbean

After two years of decline, shipments abroad of plums and sloes increased by 83% to X tons in 2022. Over the period under review, exports posted a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 108% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, plum and sloe exports surged to $X in 2022. Overall, exports saw a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Chile (X tons), together amounting to 99% of total export.

Chile was also the fastest-growing in terms of the plums and sloes exports, with a CAGR of +8.0% from 2012 to 2022. From 2012 to 2022, the share of Chile increased by +6.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) also remains the largest plum and sloe supplier in Latin America and the Caribbean.

In Chile, plum and sloe exports increased at an average annual rate of +12.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 21% against the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plum and sloe export price increased by +47.3% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the export price increased by 70% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for Chile amounted to +4.0% per year.

Plum And Sloe Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of plums and sloes were imported in Latin America and the Caribbean; with an increase of 15% compared with the year before. In general, imports, however, saw a noticeable descent. The pace of growth was the most pronounced in 2021 when imports increased by 52%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, plum and sloe imports rose notably to $X in 2022. Over the period under review, imports, however, saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 51%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil was the major importing country with an import of around X tons, which finished at 67% of total imports. Mexico (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (5.3%). Colombia (X tons), Paraguay (X tons), El Salvador (X tons) and Peru (X tons) held a minor share of total imports.

Imports into Brazil decreased at an average annual rate of -1.8% from 2012 to 2022. At the same time, Argentina (+61.3%) and Paraguay (+14.1%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +61.3% from 2012-2022. By contrast, El Salvador (-1.3%), Mexico (-7.3%), Colombia (-10.1%) and Peru (-10.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Argentina and Paraguay increased by +6.3, +5.3 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported plums and sloes in Latin America and the Caribbean, comprising 64% of total imports. The second position in the ranking was taken by Mexico ($X), with a 15% share of total imports. It was followed by Argentina, with a 5.5% share.

In Brazil, plum and sloe imports contracted by an average annual rate of -2.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-5.3% per year) and Argentina (+61.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, waning by -2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 13%. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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