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Latin America and the Caribbean - Cassava - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Jun 14, 2019

Cassava Market in Latin America and the Caribbean - Key Insights

IndexBox has just published a new report, the Latin America and the Caribbean - Cassava - Market Analysis, Forecast, Size, Trends and Insights. Here is a summary of the report's key findings.

The revenue of the cassava market in Latin America and the Caribbean amounted to $25.9B in 2017, growing by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total market indicated a remarkable growth from 2007 to 2017: its value decreased at an average annual rate of -1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008, when it surged by 74% year-to-year. In that year, the cassava market reached its peak level of $27.3B. From 2009 to 2017, the growth of the cassava market failed to regain its momentum.

Production in Latin America and the Caribbean

In 2017, approx. 28M tonnes of cassava were produced in Latin America and the Caribbean; declining by -7.4% against the previous year. Brazil (19M tonnes) constituted the country with the largest volume of cassava production, comprising approx. 67% of total production. Moreover, cassava production in Brazil exceeded the figures recorded by the world's second largest producer, Paraguay (3.2M tonnes), sixfold. The third position in this ranking was occupied by Colombia (2.2M tonnes), with a 7.8% share.

In Brazil, cassava production plunged by an average annual rate of -3.4% over the period from 2007-2017. Since Brazil constitutes the leading cassava producer in Latin America, the decline of Brazil's output generally determines the generally negative trend in terms of total cassava output. This was largely conditioned by a mild curtailment of the harvested area and a relatively flat trend pattern in yield figures. In other countries, the average annual rates of growth with regard to cassava output were as follows: Paraguay (+4.0% per year) and Colombia (+2.0% per year).

Cassava Exports

Exports in Latin America and the Caribbean

In 2017, approx. 110K tonnes of cassava were exported in Latin America and the Caribbean; flattening at the previous year. The cassava exports continue to indicate a relatively flat trend pattern.

In value terms, cassava exports amounted to $103M (IndexBox estimates) in 2017.

Exports by Country

Costa Rica dominates cassava exports structure, reaching 101K tonnes, which was approx. 92% of total exports in 2017. Nicaragua (4.2K tonnes) occupied the minor share of total exports.

From 2007 to 2017, average annual rates of growth with regard to cassava exports from Costa Rica stood at +1.1%. At the same time, Nicaragua (+7.4%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest growing exporter in Latin America and the Caribbean, with a CAGR of +7.4% from 2007-2017. From 2007 to 2017, the share of Nicaragua and Costa Rica decreased by -1.9% and -9.5% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Costa Rica ($97M) remains the largest cassava supplier in Latin America and the Caribbean, comprising 95% of global exports. The second position in the ranking was occupied by Nicaragua ($1.3M), with a 1.2% share of global exports.

Export Prices by Country

The cassava export price in Latin America and the Caribbean stood at $930 per tonne in 2017, going up by 24% against the previous year. The export price indicated a strong increase from 2007 to 2017: its price increased at an average annual rate of +7.3% over the last decade. 

Export prices varied noticeably by the country of destination; the country with the highest export price was Costa Rica ($960 per tonne), while Nicaragua amounted to $303 per tonne.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Costa Rica (+7.8% per year).

Cassava Imports
Imports in Latin America and the Caribbean

The imports amounted to 5.9K tonnes in 2017, shrinking by -8.9% against the previous year. The cassava imports continue to indicate a mild descent.

In value terms, cassava imports totaled $2.7M (IndexBox estimates) in 2017.

Imports by Country

In 2017, El Salvador (3.3K tonnes) represented the key importer for cassava, comprising 56% of total imports. It was distantly followed by Chile (1.1K tonnes) and Brazil (629 tonnes), together mixed up 29% share of total imports. Colombia (185 tonnes) and Bahamas (97 tonnes) followed a long way behind the leaders.

El Salvador experienced a relatively flat trend pattern of cassava imports. At the same time, Chile (+33.5%) and Colombia (+3.2%) displayed positive paces of growth. Moreover, Chile emerged as the fastest growing importer in Latin America and the Caribbean, with a CAGR of +33.5% from 2007-2017. By contrast, Brazil (-3.2%) and Bahamas (-8.6%) illustrated a downward trend over the same period. From 2007 to 2017, the share of Brazil and Bahamas increased by 4.1% and 2.4% percentage points, while Chile (-17.1%) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cassava markets worldwide were El Salvador ($1M), Chile ($566K) and Bahamas ($192K), together accounting for 65% of total imports.

Import Prices by Country

The cassava import price in Latin America and the Caribbean stood at $463 per tonne in 2017, approximately mirroring the previous year. Over the period from 2007 to 2017, it increased at an average annual rate of +1.9%.

Import prices varied noticeably by the country of destination; the country with the highest import price was Bahamas ($2 per kg), while Brazil ($209 per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Bahamas (+5.5% per year), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox AI Platform

Product coverage:
• FCL 125 - Cassava

This report provides an in-depth analysis of the cassava market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.



Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2025
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2018
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2018
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bermuda
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2018
Table 2:
Market Volume, In Physical Terms, 2007–2018
Table 3:
Market Value, 2007–2018
Table 4:
Per Capita Consumption, By Country, 2015–2018
Table 5:
Production, In Physical Terms, By Country, 2007–2018
Table 6:
Harvested Area, By Country, 2007-2018
Table 7:
Yield, By Country, 2007-2018
Table 8:
Imports, In Physical Terms, By Country, 2007–2018
Table 9:
Imports, In Value Terms, By Country, 2007–2018
Table 10:
Import Prices, By Country Of Destination, 2007–2018
Table 11:
Exports, In Physical Terms, By Country, 2007–2018
Table 12:
Exports, In Value Terms, By Country, 2007–2018
Table 13:
Export Prices, By Country Of Origin, 2007–2018
Table 14:
Producer Prices, By Major Producing Country, 2018
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2018
Figure 2:
Market Value, 2007–2018
Figure 3:
Consumption, By Country, 2018
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2007–2018
Figure 18:
Production, In Value Terms, 2007–2018
Figure 19:
Area Harvested, 2007–2018
Figure 20:
Yield, 2007–2018
Figure 21:
Production, By Country, 2018
Figure 22:
Production, In Physical Terms, By Country, 2007–2018
Figure 23:
Harvested Area, By Country, 2018
Figure 24:
Harvested Area, By Country, 2007-2018
Figure 25:
Yield, By Country, 2007-2018
Figure 26:
Imports, In Physical Terms, 2007–2018
Figure 27:
Imports, In Value Terms, 2007–2018
Figure 28:
Imports, In Physical Terms, By Country, 2018
Figure 29:
Imports, In Physical Terms, By Country, 2007–2018
Figure 30:
Imports, In Value Terms, By Country, 2007–2018
Figure 31:
Import Prices, By Country, 2007–2018
Figure 32:
Exports, In Physical Terms, 2007–2018
Figure 33:
Exports, In Value Terms, 2007–2018
Figure 34:
Exports, In Physical Terms, By Country, 2018
Figure 35:
Exports, In Physical Terms, By Country, 2007–2018
Figure 36:
Exports, In Value Terms, By Country, 2007–2018
Figure 37:
Export Prices, 2007–2018
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