Latin America and the Caribbean: Vegetable Market 2020

Vegetable Market Size in Latin America and the Caribbean

The revenue of the vegetable market in Latin America and the Caribbean amounted to $X in 2017, rising by X% against the previous year. The market value increased an average annual rate of +X% over the period from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2011, when market value increased by X% y-o-y. The level of vegetable consumption peaked in 2017, and is likely to see steady growth in the immediate term.

Vegetable Production in Latin America and the Caribbean

The vegetable production stood at X tons in 2017, rising by X% against the previous year. The total output volume increased an average annual rate of +X% over the period from 2007 to 2017; the trend pattern remained relatively stable, with somewhat noticeable fluctuations over the period under review. The growth pace was the most rapid in 2016, when it surged by X% against the previous year. Over the period under review, the vegetable production reached its maximum volume in 2017, and is likely to see steady growth in the immediate term. The general positive trend in terms of vegetable output was largely conditioned by a mild expansion of the harvested area and a slight increase in yield figures.

The countries with the highest volumes of vegetable production in 2017 were Mexico (X tons), Brazil (X tons) and Peru (X tons), with a combined X% share of total production.

From 2007 to 2017, the most notable rate of growth in terms of vegetable production, amongst the main producing countries, was attained by Mexico (+X% per year), while the other leaders experienced more modest paces of growth.

The average vegetable yield amounted to X ton per ha in 2017, surging by X% against the previous year. The yield figure increased an average annual rate of +X% over the period from 2007 to 2017; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2011, when it surged by X% year-to-year. The level of vegetable yield peaked in 2017, and is expected to retain its 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.

The vegetable harvested area totaled X ha in 2017, approximately reflecting the previous year. The vegetable harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009, with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to vegetable production attained its peak figure of X ha in 2016, leveling off in the following year.

Vegetable Exports in Latin America and the Caribbean

The exports totaled X tons in 2017, jumping by X% against the previous year. The total export volume increased an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations in certain years. The growth pace was the most rapid in 2013, when it surged by X% against the previous year. The volume of exports peaked in 2017, and are expected to retain its growth in the immediate term.

In value terms, vegetable exports stood at $X in 2017. The total exports indicated a remarkable increase from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the vegetable exports increased by +X% against 2007 indices. Over the period under review, the vegetable exports reached its maximum level of $X in 2016, and then declined slightly in the following year.

Vegetable Exports by Country in Latin America and the Caribbean

Mexico dominates vegetable exports structure, accounting for X tons, which was approx. X% of total exports in 2017. It was distantly followed by Guatemala (X tons), achieving X% share of total exports. Honduras (X tons), Peru (X tons), Brazil (X tons), Costa Rica (X tons) and Argentina (X tons) followed a long way behind the leaders.

From 2007 to 2017, average annual rates of growth with regard to vegetable exports from Mexico stood at +X%. At the same time, Honduras (+X%), Peru (+X%), Guatemala (+X%) and Brazil (+X%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest growing exporter in Latin America and the Caribbean, with a CAGR of +X% from 2007-2017. By contrast, Costa Rica (-X%) and Argentina (-X%) illustrated a downward trend over the same period. While the share of Argentina (X%) increased significantly in terms of the global exports from 2007-2017, the share of Peru (-X%), Honduras (-X%), Guatemala (-X%) and Mexico (-X%) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2007 to 2017, the average annual rate of growth in terms of value in Mexico amounted to +X%. In the other countries, the average annual rates were as follows: Peru (+X% per year) and Guatemala (+X% per year).

Vegetable Export Prices by Country in Latin America and the Caribbean

In 2017, the vegetable export price in Latin America and the Caribbean amounted to $X per ton, falling by -X% against the previous year. Over the last decade, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2011, when the export prices increased by X% year-to-year. The level of export price peaked of $X per ton in 2016, and then declined slightly in the following year.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was Peru ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Argentina (+X% per year), while the other leaders experienced more modest paces of growth.

Vegetable Imports in Latin America and the Caribbean

In 2017, vegetable imports in Latin America and the Caribbean amounted to X tons, waning by -X% against the previous year. The vegetable imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008, when imports increased by X% against the previous year. Over the period under review, the vegetable imports attained its maximum volume of X tons in 2010; however, from 2011 to 2017, it failed to regain its momentum.

In value terms, vegetable imports stood at $X in 2017. The total imports indicated a prominent increase from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the vegetable imports increased by +X% against 2012 indices. The level of imports peaked of $X in 2016, and then declined slightly in the following year.

Vegetable Imports by Country in Latin America and the Caribbean

In 2017, Mexico (X tons) and Brazil (X tons) represented the largest importers of vegetables in the globe, together generating X% of total imports. It was distantly followed by El Salvador (X tons), Paraguay (X tons) and Trinidad and Tobago (X tons), together achieving X% share of total imports. Colombia (X tons), Guatemala (X tons), Bahamas (X tons), Venezuela (X tons), Honduras (X tons), Nicaragua (X tons) and the Dominican Republic (X tons) followed a long way behind the leaders.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Guatemala (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and El Salvador ($X) constituted the countries with the highest levels of imports in 2017, together accounting for X% of total imports. These countries were followed by Trinidad and Tobago, Colombia, Bahamas, Venezuela, Honduras, the Dominican Republic, Paraguay, Guatemala and Nicaragua, which together accounted for a further X%.

Honduras (+X% per year) experienced the highest growth rate of imports, in terms of the main importing countries over the last decade, while the other leaders experienced more modest paces of growth.

Vegetable Import Prices by Country in Latin America and the Caribbean

In 2017, the vegetable import price in Latin America and the Caribbean amounted to $X per ton, waning by -X% against the previous year. Over the last decade, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010, when it surged by X% y-o-y. The level of import price peaked of $X per ton in 2016, and then declined slightly in the following year.

Import prices varied noticeably by the country of destination; the country with the highest import price was Brazil ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Brazil (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform