MERCOSUR: Yautia (Cocoyam) Market 2024

Yautia (Cocoyam) Market Size in MERCOSUR

In 2022, after two years of decline, there was growth in the MERCOSUR yautia (cocoyam) market, when its value increased by 1.8% to $X. Overall, consumption, however, continues to indicate a pronounced decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Yautia (Cocoyam) Production in MERCOSUR

In value terms, yautia (cocoyam) production contracted to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 40% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The country with the largest volume of yautia (cocoyam) production was Venezuela (X tons), comprising approx. 84% of total volume. Moreover, yautia (cocoyam) production in Venezuela exceeded the figures recorded by the second-largest producer, Ecuador (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume in Venezuela was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Ecuador (+1.3% per year) and Peru (-20.4% per year).

In 2022, the average yautia (cocoyam) yield in MERCOSUR contracted to X tons per ha, remaining relatively unchanged against 2021. The yield figure increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 when the yield increased by 5.5% against the previous year. Over the period under review, the yautia (cocoyam) yield reached the peak level at X tons per ha in 2021, and then reduced slightly 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 total area harvested in terms of yautia production in MERCOSUR stood at X ha, almost unchanged from the year before. Overall, the harvested area, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2020 with an increase of 7.3% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Yautia (Cocoyam) Exports

Exports in MERCOSUR

In 2022, the amount of yautia exported in MERCOSUR shrank sharply to X tons, waning by -42.6% compared with 2021 figures. In general, exports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 605% against the previous year. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, yautia (cocoyam) exports reduced notably to $X in 2022. Overall, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 673%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

In 2022, Ecuador (X tons) was the key exporter of yautia in MERCOSUR, committing 98% of total export.

Ecuador was also the fastest-growing in terms of the yautia exports, with a CAGR of +13.7% from 2012 to 2022. From 2012 to 2022, the share of Ecuador increased by +3.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) also remains the largest yautia (cocoyam) supplier in MERCOSUR.

From 2012 to 2022, the average annual rate of growth in terms of value in Ecuador amounted to +20.8%.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, leveling off at the previous year. Export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yautia (cocoyam) export price decreased by -1.8% against 2019 indices. The growth pace was the most rapid in 2013 when the export price increased by 55% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Ecuador.

From 2012 to 2022, the rate of growth in terms of prices for Ecuador amounted to +6.3% per year.

Yautia (Cocoyam) Imports

Imports in MERCOSUR

In 2022, yautia (cocoyam) imports in MERCOSUR reduced sharply to X tons, which is down by -52.2% compared with 2021 figures. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 334% against the previous year. Over the period under review, (cocoyam) imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, yautia (cocoyam) imports contracted notably to $X in 2022. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 472%. Over the period under review, (cocoyam) imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) was the main importer of yautia, creating 60% of total imports. It was distantly followed by Colombia (X tons), comprising a 40% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Colombia (with a CAGR of +69.3%).

In value terms, Argentina ($X) and Colombia ($X) were the countries with the highest levels of imports in 2022.

Colombia, with a CAGR of +56.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, reducing by -2.8% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yautia (cocoyam) import price increased by +28.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 32%. As a result, import price attained the peak level of $X per ton, and then declined slightly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Colombia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+7.9%).

Source: IndexBox Platform