Puerto Rico: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Puerto Rico

In 2021, after three years of decline, there was growth in the Puerto Rican agricultural product dryer market, when its value increased by 4.8% to $X. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Agricultural Product Dryer Production in Puerto Rico

In value terms, agricultural product dryer production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 121% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Agricultural Product Dryer Exports

Exports from Puerto Rico

In 2021, the amount of dryers for the treatment of agricultural products exported from Puerto Rico totaled less than X units, remaining stable against 2020 figures. Overall, exports recorded a relatively flat trend pattern.

In value terms, agricultural product dryer exports stood at less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

In 2021, China (X units), distantly followed by Italy (X units), the United States (X units), Germany (X units) and Taiwan (Chinese) (X units) were the key exporters of dryers for the treatment of agricultural products, together generating 56% of total exports. Canada (X units), the UK (X units), Denmark (X units), India (X units), Sweden (X units), the Netherlands (X units), Argentina (X units) and France (X units) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +38.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the United States ($X) were the countries with the highest levels of exports in 2021, together accounting for 39% of total exports. These countries were followed by China, Denmark, Taiwan (Chinese), the UK, Sweden, India, France, the Netherlands, Argentina and Canada, which together accounted for a further 35%.

India, with a CAGR of +15.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per thousand units, almost unchanged from the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Denmark ($X per thousand units), while Canada ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+5.9%), while the other leaders experienced more modest paces of growth.

Agricultural Product Dryer Imports

Imports into Puerto Rico

Agricultural product dryer imports into Puerto Rico stood at less than X units in 2021, approximately equating the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, agricultural product dryer imports stood at less than $X in 2021. In general, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, the Philippines (X units), distantly followed by Norway (X units) and Canada (X units) were the largest importers of dryers for the treatment of agricultural products, together creating 45% of total imports. The following importers - Vietnam (X units), Lithuania (X units), Poland (X units), Ukraine (X units), Russia (X units), Japan (X units), Bangladesh (X units), Indonesia (X units), Lebanon (X units) and Malaysia (X units) - together made up 22% of total imports.

From 2012 to 2021, average annual rates of growth with regard to agricultural product dryer imports into the Philippines stood at +26.9%. At the same time, Lebanon (+89.7%), Japan (+45.6%), Vietnam (+42.3%), Lithuania (+38.5%), Norway (+22.9%), Poland (+19.2%), Bangladesh (+17.2%), Canada (+15.0%) and Malaysia (+13.2%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing importer imported in the world, with a CAGR of +89.7% from 2012-2021. Russia and Ukraine experienced a relatively flat trend pattern. By contrast, Indonesia (-10.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Philippines, Norway, Vietnam, Canada, Lithuania, Japan and Lebanon increased by +20, +8.1, +3.3, +2.8, +2.3, +2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ukraine ($X), Russia ($X) and Canada ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 23% share of total imports. These countries were followed by Indonesia, Poland, the Philippines, Vietnam, Lithuania, Bangladesh, Japan, Malaysia, Norway and Lebanon, which together accounted for a further 16%.

Among the main importing countries, Lebanon, with a CAGR of +88.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per thousand units in 2021, approximately mirroring the previous year. Over the period under review, the import price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ukraine ($X per thousand units), while Lebanon ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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