Ecuador: Chili And Pepper Market 2024

Chili And Pepper Market Size in Ecuador

In 2023, the Ecuadorian chili and pepper market decreased by X% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2023, consumption remained at a lower figure.

Chili And Pepper Production in Ecuador

In value terms, chili and pepper production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2023, production failed to regain momentum.

The average yield of chilies and peppers (green) in Ecuador totaled X tons per ha in 2023, standing approx. at the year before. Over the period under review, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the average chili and pepper yield hit record highs at X tons per ha in 2020; afterwards, it flattened through to 2023. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The chili and pepper harvested area in Ecuador declined slightly to X ha in 2023, therefore, remained relatively stable against the previous year. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to chili and pepper production reached the maximum at X ha in 2017; however, from 2018 to 2023, the harvested area stood at a somewhat lower figure.

Chili And Pepper Exports

Exports from Ecuador

In 2023, exports of chilies and peppers (green) from Ecuador surged to X tons, increasing by X% on 2022 figures. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are likely to continue growth in the immediate term.

In value terms, chili and pepper exports surged to $X in 2023. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Canada (X tons) and Spain (X tons) were the main destinations of chili and pepper exports from Ecuador, together comprising X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chili and pepper exported from Ecuador were the United States ($X), Canada ($X) and Spain ($X), with a combined X% share of total exports.

Among the main countries of destination, Canada, with a CAGR of X%, recorded the highest growth rate of 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

In 2023, the average chili and pepper export price amounted to $X per ton, surging by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chili And Pepper Imports

Imports into Ecuador

Chili and pepper imports into Ecuador fell remarkably to X tons in 2023, dropping by X% on 2022 figures. In general, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then shrank significantly in the following year.

In value terms, chili and pepper imports contracted significantly to $X in 2023. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then plummeted in the following year.

Imports by Country

In 2023, the United States (X tons) was the main chili and pepper supplier to Ecuador, with a approx. X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of volume from the United States amounted to X%.

In value terms, the United States ($X) constituted the largest supplier of chilies and peppers (green) to Ecuador.

From 2012 to 2023, the average annual growth rate of value from the United States amounted to X%.

Import Prices by Country

The average chili and pepper import price stood at $X per ton in 2023, approximately reflecting the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the average import prices failed to regain momentum.

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

From 2012 to 2023, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform