Latin America and the Caribbean: Green Peas Market 2024

Green Peas Market Size in Latin America and the Caribbean

The Latin American green peas market fell to $X in 2023, stabilizing at the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2023.

Green Peas Production in Latin America and the Caribbean

In value terms, green peas production fell slightly to $X in 2023 estimated in export price. The total production indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Peru (X tons) remains the largest green peas producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, green peas production in Peru exceeded the figures recorded by the second-largest producer, Mexico (X tons), twofold. Guatemala (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2023, the average annual growth rate of volume in Peru amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Mexico (X% per year) and Guatemala (X% per year).

The average green peas yield fell modestly to X tons per ha in 2023, almost unchanged from the year before. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the yield increased by X%. The level of yield peaked at X tons per ha in 2022, and then reduced 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 2023, approx. X ha of peas (green) were harvested in Latin America and the Caribbean; remaining relatively unchanged against the year before. Overall, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of harvested area peaked at X ha in 2021; however, from 2022 to 2023, the harvested area remained at a lower figure.

Green Peas Exports

Exports in Latin America and the Caribbean

In 2023, shipments abroad of peas (green) decreased by X% to X tons, falling for the second consecutive year after five years of growth. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, green peas exports expanded notably to $X in 2023. Total exports indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Guatemala (X tons) was the main exporter of peas (green), achieving X% of total exports. Mexico (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Peru (X%).

From 2012 to 2023, the biggest increases were recorded for Peru (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest green peas supplying countries in Latin America and the Caribbean were Guatemala ($X), Mexico ($X) and Peru ($X), together comprising X% of total exports.

In terms of the main exporting countries, Mexico, with a CAGR of X%, recorded 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 export price in Latin America and the Caribbean stood at $X per ton in 2023, picking up by X% against the previous year. Export price indicated a resilient increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, green peas export price increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Green Peas Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of peas (green) decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, green peas imports shrank dramatically to $X in 2023. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then dropped remarkably in the following year.

Imports by Country

Peru (X tons) and Colombia (X tons) prevails in imports structure, together constituting X% of total imports. It was distantly followed by Panama (X tons), constituting an X% share of total imports. Venezuela (X tons) and Honduras (X tons) took a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Peru (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest green peas importing markets in Latin America and the Caribbean were Colombia ($X), Peru ($X) and Panama ($X), together accounting for X% of total imports.

Peru, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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

The import price in Latin America and the Caribbean stood at $X per ton in 2023, falling by X% against the previous year. Import price indicated a moderate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Colombia ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Venezuela (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform