Price for Cereal Groats and Meal; of Wheat in Ecuador - 2022

Price for Cereal Groats and Meal; of Wheat in Ecuador (CIF) - 2022

The average import price for cereal groats and meal; of wheats stood at $590 per ton in 2022, picking up by 8.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 13%. Over the period under review, average import prices attained the peak figure at $621 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($608 per ton), while the price for Spain amounted to $563 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.4%).

Price for Cereal Groats and Meal; of Wheat in Ecuador (FOB) - 2022

In 2022, the average export price for cereal groats and meal; of wheats amounted to $420 per ton, standing approx. at the previous year. Overall, the export price saw a pronounced contraction. The pace of growth was the most pronounced in 2014 when the average export price increased by 0.5% against the previous year. Over the period under review, the average export prices hit record highs at $663 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Peru.

From 2012 to 2022, the rate of growth in terms of prices for Peru amounted to -4.6% per year.

Imports of Cereal Groats and Meal; of Wheat in Ecuador

In 2022, overseas purchases of cereal groats and meal; of wheats decreased by -1.7% to 1.6K tons, falling for the second consecutive year after two years of growth. In general, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. As a result, imports reached the peak of 2.2K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of cereal groats and meal; of wheats expanded significantly to $954K in 2022. The total import value increased at an average annual rate of +2.3% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 25% against the previous year. As a result, imports attained the peak of $1.1M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Import of Cereal Groats and Meal; of Wheat in Ecuador (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Mexico	426	274	443	591	11.5%
Spain	464	841	451	363	-7.9%
Others	N/A	N/A	N/A	N/A	0%
Total	890	1,115	894	954	2.3%

Top Suppliers of Cereal Groats and Meal; of Wheat to Ecuador in 2022:

Mexico (972.2 tons)
Spain (644.3 tons)

Exports of Cereal Groats and Meal; of Wheat in Ecuador

For the fourth consecutive year, Ecuador recorded growth in overseas shipments of cereal groats and meal; of wheats, which increased by 0.5% to 25 tons in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2021 with an increase of 99% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of cereal groats and meal; of wheats totaled $11K in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 99%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.