MERCOSUR: Vegetable Product Market 2024

Vegetable Product Market Size in MERCOSUR

The MERCOSUR vegetable product market soared to $X in 2022, surging by 31% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Vegetable Product Production in MERCOSUR

In value terms, vegetable product production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 37% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of vegetable product production was Brazil (X tons), comprising approx. 91% of total volume. Moreover, vegetable product production in Brazil exceeded the figures recorded by the second-largest producer, Colombia (X tons), more than tenfold.

In Brazil, vegetable product production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Colombia (-2.9% per year) and Argentina (-0.6% per year).

The average vegetable product yield stood at X tons per ha in 2022, surging by 2.4% compared with 2021. In general, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the yield increased by 3.7% against the previous year. 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 vegetable products production in MERCOSUR stood at X ha, almost unchanged from 2021 figures. Overall, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 4.8%. Over the period under review, the harvested area dedicated to vegetable product production attained the maximum at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Vegetable Product Exports

Exports in MERCOSUR

In 2022, the amount of vegetable products exported in MERCOSUR contracted significantly to X tons, falling by -53.2% on 2021. Overall, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 27%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vegetable product exports shrank rapidly to $X in 2022. Over the period under review, exports saw a perceptible downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 58% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Peru represented the major exporting country with an export of around X tons, which recorded 64% of total exports. Brazil (X tons) ranks second in terms of the total exports with a 15% share, followed by Argentina (10%) and Paraguay (5.8%). Uruguay (X tons) took a relatively small share of total exports.

Exports from Peru decreased at an average annual rate of -5.8% from 2012 to 2022. At the same time, Brazil (+34.9%), Uruguay (+30.2%) and Argentina (+15.5%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +34.9% from 2012-2022. By contrast, Paraguay (-7.8%) illustrated a downward trend over the same period. Brazil (+14 p.p.), Argentina (+8.8 p.p.) and Uruguay (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Paraguay and Peru saw its share reduced by -2.7% and -11.3% from 2012 to 2022, respectively.

In value terms, Peru ($X) remains the largest vegetable product supplier in MERCOSUR, comprising 74% of total exports. The second position in the ranking was held by Brazil ($X), with an 11% share of total exports. It was followed by Paraguay, with a 5.6% share.

In Peru, vegetable product exports contracted by an average annual rate of -3.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+14.8% per year) and Paraguay (-6.2% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, picking up by 27% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 29% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 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 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 Peru (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Vegetable Product Imports

Imports in MERCOSUR

After three years of growth, purchases abroad of vegetable products decreased by -13.4% to X tons in 2022. In general, imports showed a noticeable decrease. The pace of growth was the most pronounced in 2015 when imports increased by 110%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vegetable product imports fell modestly to $X in 2022. Overall, imports, however, recorded strong growth. The pace of growth appeared the most rapid in 2015 when imports increased by 50% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Chile (X tons) and Paraguay (X tons) represented roughly 57% of total imports in 2022. Argentina (X tons) ranks next in terms of the total imports with a 12% share, followed by Brazil (11%), Colombia (6.5%) and Peru (5.8%). Venezuela (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Paraguay (with a CAGR of +241.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable product importing markets in MERCOSUR were Chile ($X), Paraguay ($X) and Brazil ($X), together accounting for 69% of total imports.

Paraguay, with a CAGR of +124.5%, saw 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, picking up by 11% against the previous year. In general, the import price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 an increase of 46% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

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 Venezuela ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+20.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform