Ecuador: Grain Market 2024

Grain Market Size in Ecuador

For the third year in a row, 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 recorded throughout the analyzed period. Grain consumption peaked in 2022 and is expected to retain growth in years to come.

Grain Production in Ecuador

In value terms, grain production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a mild reduction. The most prominent rate of growth was recorded 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 failed to regain momentum.

In 2022, the average yield of grain in Ecuador shrank to X tons per ha, with a decrease of X% on the year before. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of X%. 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, approx. X ha of grain were harvested in Ecuador; dropping by X% compared with the year before. In general, the harvested area showed a pronounced reduction. The pace of growth was the most pronounced in 2021 when the harvested area increased by X%. The grain harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Grain Exports

Exports from Ecuador

In 2022, grain exports from Ecuador fell sharply to X tons, which is down by X% compared with 2021. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, grain exports reduced markedly to $X in 2022. Overall, exports saw a pronounced decline. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

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%.

Among the main countries of destination, Costa Rica, 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

The average grain export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, 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

After three years of growth, overseas purchases of grain decreased by X% to X tons in 2022. Overall, total imports indicated a buoyant expansion 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%. Over the period under review, imports reached the maximum at X tons in 2021, and then declined modestly in the following year.

In value terms, grain imports soared to $X in 2022. Over the period under review, imports, however, enjoyed strong growth. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum 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, with a combined X% share of total imports. Brazil, Australia and Russia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of X%), while purchases 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), with a combined X% share of total imports. Brazil, Australia and Russia lagged somewhat behind, together comprising a further X%.

Australia, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average grain import price amounted to $X per ton, surging 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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