Latin America and the Caribbean: Vegetable Market 2024

Vegetable Market Size in Latin America and the Caribbean

In 2022, the Latin American vegetable market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when the market value increased by X%. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Vegetable Production in Latin America and the Caribbean

In value terms, vegetable production declined modestly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Mexico (X tons), Brazil (X tons) and Peru (X tons), together accounting for X% of total production. Argentina, Colombia, Chile, Guatemala, Venezuela, Bolivia, Cuba and the Dominican Republic lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average vegetable yield rose to X tons per ha in 2022, growing by X% on the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the vegetable yield attained the peak level in 2022 and is likely to see steady growth in the near future. 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 vegetables in Latin America and the Caribbean totaled X ha, remaining constant against 2021. Over the period under review, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2017 to 2022, the growth of the vegetable harvested area remained at a lower figure.

Vegetable Exports

Exports in Latin America and the Caribbean

For the fifth year in a row, LatAmerica and the Caribbean recorded growth in overseas shipments of vegetables, which increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, vegetable exports reached $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Guatemala (X tons), making up a X% share of total exports. Peru (X tons), Honduras (X tons), Brazil (X tons) and Argentina (X tons) held a little share of total exports.

Exports from Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Brazil (X%), Peru (X%), Argentina (X%), Honduras (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Guatemala saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest vegetable supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Peru ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

In Mexico, vegetable exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (X% per year) and Guatemala (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 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 Peru ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Vegetable Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of vegetables were imported in Latin America and the Caribbean; with an increase of X% against 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, vegetable imports expanded markedly to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, El Salvador (X tons), distantly followed by Mexico (X tons), Brazil (X tons), Paraguay (X tons) and Colombia (X tons) were the largest importers of vegetables, together achieving X% of total imports. The following importers - Chile (X tons), the Dominican Republic (X tons), Trinidad and Tobago (X tons), Haiti (X tons), Bahamas (X tons), Nicaragua (X tons), Honduras (X tons) and Guatemala (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Dominican Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and El Salvador ($X), together comprising X% of total imports. Bahamas, Colombia, the Dominican Republic, Trinidad and Tobago, Haiti, Paraguay, Honduras, Chile, Nicaragua and Guatemala lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Dominican Republic, with a CAGR of X%, recorded the highest growth rate of 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, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahamas ($X per ton), while El Salvador ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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