Latin America and the Caribbean: Yams Market 2024

Yams Market Size in Latin America and the Caribbean

The Latin American yams market amounted to $X in 2022, approximately equating the previous year. Overall, consumption, however, recorded a noticeable slump. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Yams Production in Latin America and the Caribbean

In value terms, yams production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2013 with an increase of 13%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Colombia (X tons), Brazil (X tons) and Jamaica (X tons), together accounting for 81% of total production.

From 2012 to 2022, the biggest increases were recorded for Jamaica (with a CAGR of +1.9%), while production for the other leaders experienced more modest paces of growth.

The average yams yield dropped modestly to X tons per ha in 2022, with a decrease of -1.7% against the previous year. Overall, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 13%. The level of yield peaked at X tons per ha in 2013; however, from 2014 to 2022, 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 2022, the total area harvested in terms of yams production in Latin America and the Caribbean amounted to X ha, with an increase of 2.8% compared with the year before. In general, the harvested area, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2014 when the harvested area increased by 13% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2015 to 2022, the growth of the yams harvested area remained at a lower figure.

Yams Exports

Exports in Latin America and the Caribbean

In 2022, yams exports in Latin America and the Caribbean stood at X tons, increasing by 2.9% against 2021 figures. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% 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 +65.5% against 2015 indices. The pace of growth was the most pronounced in 2016 when exports increased by 21% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, yams exports reached $X in 2022. Total exports indicated a notable increase from 2012 to 2022: its value 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, exports increased by +65.4% against 2015 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 24%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from Jamaica (X tons), Colombia (X tons), Costa Rica (X tons) and Brazil (X tons), together recording 96% of total export. The Dominican Republic (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +58.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Jamaica ($X) remains the largest yams supplier in Latin America and the Caribbean, comprising 58% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 16% share of total exports. It was followed by Colombia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Jamaica amounted to +6.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Costa Rica (-6.3% per year) and Colombia (+15.7% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, reducing by -2.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 12%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jamaica (+1.1%), while the other leaders experienced a decline in the export price figures.

Yams Imports

Imports in Latin America and the Caribbean

In 2022, imports of yams in Latin America and the Caribbean fell to X tons, with a decrease of -9.2% compared with the previous year's figure. Overall, imports, however, saw a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 72% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, yams imports dropped modestly to $X in 2022. In general, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 126% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Cayman Islands (X tons), distantly followed by Argentina (X tons), Mexico (X tons), Bahamas (X tons), Barbados (X tons), Aruba (X tons), Trinidad and Tobago (X tons) and Haiti (X tons) were the major importers of yams, together comprising 88% of total imports.

From 2012 to 2022, average annual rates of growth with regard to yams imports into Cayman Islands stood at +12.3%. At the same time, Aruba (+42.1%), Barbados (+27.4%), Argentina (+24.3%), Bahamas (+19.7%), Mexico (+12.2%), Trinidad and Tobago (+7.2%) and Haiti (+3.2%) displayed positive paces of growth. Moreover, Aruba emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +42.1% from 2012-2022. While the share of Argentina (+8.5 p.p.), Barbados (+7.6 p.p.), Aruba (+5 p.p.) and Bahamas (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cayman Islands (-2.2 p.p.), Trinidad and Tobago (-4 p.p.) and Haiti (-8.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cayman Islands ($X) constitutes the largest market for imported yams in Latin America and the Caribbean, comprising 39% of total imports. The second position in the ranking was taken by Bahamas ($X), with a 17% share of total imports. It was followed by Argentina, with an 11% share.

In Cayman Islands, yams imports expanded at an average annual rate of +10.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bahamas (+33.3% per year) and Argentina (+26.0% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by 5.9% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 51% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahamas ($X per ton), while Barbados ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahamas (+11.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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