Latin America and the Caribbean: Potato Market 2025

Potato Market Size in Latin America and the Caribbean

In 2021, the Latin American potato market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Potato Production in Latin America and the Caribbean

In value terms, potato production expanded slightly to $X in 2021 estimated in export price. Overall, production recorded a mild decline. The pace of growth was the most pronounced in 2014 with an increase of 15%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

The countries with the highest volumes of production in 2021 were Peru (X tons), Brazil (X tons) and Colombia (X tons), together comprising 58% of total production.

From 2012 to 2021, the biggest increases were in Colombia (with a CAGR of +5.0%), while production for the other leaders experienced more modest paces of growth.

The average potato yield amounted to X tons per ha in 2021, stabilizing at the previous year's figure. The yield figure increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2017 when the yield increased by 6.1%. The level of yield peaked at X tons per ha in 2019; however, from 2020 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of potatoes production in Latin America and the Caribbean contracted to X ha, approximately mirroring the previous year's figure. In general, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the harvested area increased by 3.2% against the previous year. Over the period under review, the harvested area dedicated to potato production reached the peak figure at X ha in 2016; however, from 2017 to 2021, the harvested area failed to regain momentum.

Potato Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of potatoes decreased by -7.2% to X tons, falling for the second consecutive year after two years of growth. Total exports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -17.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, potato exports fell to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 71%. Over the period under review, the exports reached the peak figure at $X in 2020, and then fell modestly in the following year.

Exports by Country

Guatemala (X tons) and Argentina (X tons) dominates exports structure, together making up 92% of total exports. It was distantly followed by Brazil (X tons), making up a 4.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of +42.4%), while the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X) remains the largest potato supplier in Latin America and the Caribbean, comprising 60% of total exports. The second position in the ranking was held by Argentina ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Guatemala stood at +7.5%. In the other countries, the average annual rates were as follows: Argentina (+6.4% per year) and Brazil (+39.9% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2016 when the export price increased by 29%. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+7.4%), while the other leaders experienced a decline in the export price figures.

Potato Imports

Imports in Latin America and the Caribbean

In 2021, potato imports in Latin America and the Caribbean declined slightly to X tons, waning by -3.5% on 2020. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by 57%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, potato imports totaled $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +83.1% against 2018 indices. The pace of growth appeared the most rapid in 2019 with an increase of 77%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

Mexico (X tons), El Salvador (X tons) and Paraguay (X tons) represented roughly 57% of total imports in 2021. It was distantly followed by Trinidad and Tobago (X tons), mixing up a 6.4% share of total imports. The following importers - the Dominican Republic (X tons), Cuba (X tons), Honduras (X tons), Barbados (X tons), Guyana (X tons), Bolivia (X tons), Brazil (X tons), Suriname (X tons) and Jamaica (X tons) - together made up 23% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Honduras (with a CAGR of +31.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported potatoes in Latin America and the Caribbean, comprising 30% of total imports. The second position in the ranking was taken by El Salvador ($X), with an 11% share of total imports. It was followed by Trinidad and Tobago, with a 7% share.

In Mexico, potato imports increased at an average annual rate of +3.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: El Salvador (+6.7% per year) and Trinidad and Tobago (+3.4% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 8.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2018 when the import price increased by 16% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+17.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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