Paraguay: Vegetable Product Market 2024

Vegetable Product Market Size in Paraguay

The Paraguayan vegetable product market expanded sharply to $X in 2022, increasing by 10% against the previous year. In general, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Vegetable Product Production in Paraguay

In value terms, vegetable product production rose markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.6% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 62% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

In 2022, the average yield of vegetable products in Paraguay stood at X tons per ha, approximately reflecting the previous year. Overall, the yield indicated a strong increase from 2012 to 2022: its figure increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable product yield decreased by -1.4% against 2020 indices. The growth pace was the most rapid in 2013 when the yield increased by 31% against the previous year. Over the period under review, the average vegetable product yield attained the maximum level 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 total area harvested in terms of vegetable products production in Paraguay was estimated at X ha, remaining stable against the previous year. In general, the harvested area showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the harvested area increased by 1.9% against the previous year. The vegetable product harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area remained at a lower figure.

Vegetable Product Exports

Exports from Paraguay

In 2022, shipments abroad of vegetable products increased by 83% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable product exports soared to $X in 2022. Over the period under review, exports, however, saw a abrupt shrinkage. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for vegetable product exports from Paraguay, with a 62% share of total exports. Moreover, vegetable product exports to Brazil exceeded the volume sent to the second major destination, Guatemala (X tons), fourfold. Spain (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil amounted to +58.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+280.1% per year) and Spain (-5.2% per year).

In value terms, the largest markets for vegetable product exported from Paraguay were Brazil ($X), Guatemala ($X) and Spain ($X), together comprising 83% of total exports.

Among the main countries of destination, Guatemala, with a CAGR of +172.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 27%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Product Imports

Imports into Paraguay

In 2022, approx. X tons of vegetable products were imported into Paraguay; growing by 500% on the previous year's figure. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 223,360% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, vegetable product imports surged to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2018 when imports increased by 20,283% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Uruguay (X tons) was the main supplier of vegetable product to Paraguay, with a approx. 99% share of total imports.

From 2015 to 2022, the average annual growth rate of volume from Uruguay stood at +500.0%.

In value terms, Uruguay ($X) constituted the largest supplier of vegetable products to Paraguay.

From 2015 to 2022, the average annual growth rate of value from Uruguay stood at +525.2%.

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, surging by 2.2% against the previous year. In general, the import price, however, faced a dramatic downturn. The growth pace was the most rapid in 2021 when the average import price increased by 121% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Uruguay.

From 2015 to 2022, the rate of growth in terms of prices for Mexico amounted to +9.8% per year.

Source: IndexBox Platform