Ecuador: Grain Market 2024

Grain Market Size in Ecuador

For the third consecutive year, the Ecuadorian grain market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Grain consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Grain Production in Ecuador

In value terms, grain production reached $X in 2022 estimated in export price. In general, production saw a slight reduction. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

The average yield of cereal grains in Ecuador contracted to X tons per ha in 2022, dropping by X% compared with the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The grain yield peaked at X tons per ha in 2021, and then shrank 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 2022, the harvested area of cereal grains in Ecuador reduced slightly to X ha, dropping by X% on 2021. In general, the harvested area recorded a noticeable decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to grain production reached the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

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Grain Exports

Exports from Ecuador

In 2022, exports of cereal grains from Ecuador contracted remarkably to X tons, declining by X% on 2021 figures. Over the period under review, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, grain exports contracted rapidly to $X in 2022. Overall, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Israel (X tons), the United States (X tons) and Canada (X tons) were the main destinations of grain exports from Ecuador, with a combined X% share of total exports. Guatemala, Costa Rica, the Netherlands, France, Italy, Spain and Colombia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for grain exported from Ecuador were Israel ($X), the United States ($X) and Canada ($X), together comprising X% of total exports. Guatemala, the Netherlands, France, Costa Rica, Italy, Spain and Colombia lagged somewhat behind, together comprising a further X%.

Costa Rica, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average grain export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price saw a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Grain Imports

Imports into Ecuador

In 2022, after three years of growth, there was decline in purchases abroad of cereal grains, when their volume decreased by X% to X tons. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank modestly in the following year.

In value terms, grain imports soared to $X in 2022. In general, imports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Canada (X tons), Argentina (X tons) and the United States (X tons) were the main suppliers of grain imports to Ecuador, together accounting for X% of total imports. Brazil, Australia and Russia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grain suppliers to Ecuador were Canada ($X), Argentina ($X) and the United States ($X), together comprising X% of total imports. Brazil, Australia and Russia lagged somewhat behind, together comprising a further X%.

Australia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average grain import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grain import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and the United States ($X per ton), while the price for Argentina ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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