Latin America and the Caribbean: Yautia (Cocoyam) Market 2024

Yautia (Cocoyam) Market Size in Latin America and the Caribbean

The Latin American yautia (cocoyam) market shrank to $X in 2022, reducing by -5.3% against the previous year. In general, consumption, however, saw a slight curtailment. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Yautia (Cocoyam) Production in Latin America and the Caribbean

In value terms, yautia (cocoyam) production reduced to $X in 2022 estimated in export price. In general, production, however, recorded a mild decline. The growth pace was the most rapid in 2016 with an increase of 41% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, (cocoyam) production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Cuba (X tons), Venezuela (X tons) and Nicaragua (X tons), together accounting for 57% of total production. Mexico, El Salvador, the Dominican Republic and Ecuador lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +9.4%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of yautia in Latin America and the Caribbean amounted to X tons per ha, almost unchanged from 2021 figures. The yield figure increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the yield increased by 12%. The level of yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat 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 yautia in Latin America and the Caribbean expanded to X ha, surging by 2.1% on 2021. Over the period under review, the harvested area, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2018 with an increase of 5.2% against the previous year. The level of harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area remained at a lower figure.

Yautia (Cocoyam) Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of yautia increased by 2.3% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 38%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, yautia (cocoyam) exports fell modestly to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, (cocoyam) exports increased by +56.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 57% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico represented the largest exporter of yautia in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was near 49% of total exports in 2022. Ecuador (X tons) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by the Dominican Republic (8.7%), Costa Rica (8.1%) and Nicaragua (6.7%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mexico (with a CAGR of +100.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Ecuador ($X), Mexico ($X) and the Dominican Republic ($X) were the countries with the highest levels of exports in 2022, together accounting for 83% of total exports.

Among the main exporting countries, Mexico, with a CAGR of +95.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, reducing by -2.7% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 69%. The level of export peaked at $X per ton in 2019; however, from 2020 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 Costa Rica ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+6.3%), while the other leaders experienced more modest paces of growth.

Yautia (Cocoyam) Imports

Imports in Latin America and the Caribbean

In 2022, yautia (cocoyam) imports in Latin America and the Caribbean skyrocketed to X tons, picking up by 17% compared with 2021. In general, imports, however, recorded a mild contraction. The growth pace was the most rapid in 2016 when imports increased by 65%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, yautia (cocoyam) imports amounted to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, (cocoyam) imports increased by +57.4% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 73%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The Dominican Republic was the major importer of yautia in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was approx. 49% of total imports in 2022. Haiti (X tons) ranks second in terms of the total imports with a 15% share, followed by Argentina (12%), Colombia (8.3%) and Costa Rica (6.2%). Honduras (X tons) and Turks and Caicos Islands (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to yautia (cocoyam) imports into the Dominican Republic stood at +48.7%. At the same time, Colombia (+69.3%), Honduras (+16.9%) and Turks and Caicos Islands (+9.7%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +69.3% from 2012-2022. Haiti experienced a relatively flat trend pattern. By contrast, Costa Rica (-10.0%) and Argentina (-16.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Dominican Republic, Colombia, Honduras and Haiti increased by +49, +8.2, +2.9 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported yautia in Latin America and the Caribbean, comprising 43% of total imports. The second position in the ranking was held by Argentina ($X), with a 16% share of total imports. It was followed by Haiti, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Dominican Republic totaled +49.6%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (-10.0% per year) and Haiti (+6.0% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, declining by -14.1% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2018 an increase of 23%. The level of import peaked at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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