MERCOSUR: Avocado Market 2024

Avocado Market Size in MERCOSUR

The MERCOSUR avocado market amounted to $X in 2022, rising by 2.6% against the previous year. Over the period under review, consumption, however, showed a strong expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Avocado Production in MERCOSUR

In value terms, avocado production totaled $X in 2022 estimated in export price. Overall, production, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Peru (X tons), Colombia (X tons) and Brazil (X tons), together accounting for 86% of total production.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +14.3%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of avocados in MERCOSUR fell slightly to X tons per ha, with a decrease of -2.1% against 2021 figures. The yield figure increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the yield increased by 23% against the previous year. Over the period under review, the avocado yield hit record highs at X tons per ha in 2021, and then reduced modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the avocado harvested area in MERCOSUR shrank modestly to X ha, with a decrease of -4.7% on the year before. The total harvested area indicated a buoyant expansion from 2012 to 2022: its figure increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, avocado harvested area increased by +84.6% against 2012 indices. The pace of growth appeared the most rapid in 2019 when the harvested area increased by 13% against the previous year. Over the period under review, the harvested area dedicated to avocado production reached the peak figure at X ha in 2021, and then declined in the following year.

Avocado Exports

Exports in MERCOSUR

In 2022, shipments abroad of avocados decreased by -9.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 67% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, avocado exports fell to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 78% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, Peru (X tons) represented the largest exporter of avocados, mixing up 79% of total exports. It was distantly followed by Chile (X tons) and Colombia (X tons), together mixing up a 20% share of total exports.

Exports from Peru increased at an average annual rate of +22.7% from 2012 to 2022. At the same time, Colombia (+67.3%) and Chile (+1.8%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +67.3% from 2012-2022. Peru (+28 p.p.) and Colombia (+8.7 p.p.) significantly strengthened its position in terms of the total exports, while Chile saw its share reduced by -35.5% from 2012 to 2022, respectively.

In value terms, Peru ($X) remains the largest avocado supplier in MERCOSUR, comprising 82% of total exports. The second position in the ranking was taken by Chile ($X), with a 9.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Peru amounted to +25.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (+3.9% per year) and Colombia (+67.7% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, which is down by -3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2016 when the export price increased by 13% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.1%), while the other leaders experienced more modest paces of growth.

Avocado Imports

Imports in MERCOSUR

In 2022, after two years of growth, there was significant decline in overseas purchases of avocados, when their volume decreased by -9.5% to X tons. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 79% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, avocado imports contracted rapidly to $X in 2022. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 96%. As a result, imports attained the peak of $X, and then fell significantly in the following year.

Imports by Country

In 2022, Chile (X tons) was the major importer of avocados, generating 68% of total imports. It was distantly followed by Argentina (X tons), achieving a 29% share of total imports. Uruguay (X tons) took a little share of total imports.

Chile was also the fastest-growing in terms of the avocados imports, with a CAGR of +56.0% from 2012 to 2022. At the same time, Uruguay (+35.0%) and Argentina (+10.7%) displayed positive paces of growth. While the share of Chile (+61 p.p.) and Uruguay (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Argentina (-56.5 p.p.) displayed negative dynamics.

In value terms, the largest avocado importing markets in MERCOSUR were Chile ($X), Argentina ($X) and Uruguay ($X), together comprising 99% of total imports.

Chile, with a CAGR of +51.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 MERCOSUR amounted to $X per ton, with a decrease of -18.8% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 29%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Chile ($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 (+4.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform