Ecuador: Nuts Market 2024

Nuts Market Size in Ecuador

In 2022, the Ecuadorian nuts market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw perceptible growth. Nuts consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Nuts Production in Ecuador

In value terms, nuts production stood at $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

In 2022, the average yield of nuts in Ecuador amounted to less than X kg per ha, almost unchanged from 2021 figures. Over the period under review, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the nuts harvested area in Ecuador stood at less than X ha, remaining stable against 2021 figures. In general, the harvested area saw a relatively flat trend pattern.

Nuts Exports

Exports from Ecuador

In 2022, overseas shipments of nuts increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, nuts exports surged to $X in 2022. Overall, exports, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for nuts exports from Ecuador, with a X% share of total exports. It was followed by Panama (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and the United States (X% per year).

In value terms, Spain ($X) emerged as the key foreign market for nuts exports from Ecuador, comprising X% of total exports. The second position in the ranking was taken by Panama ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X.8% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average nuts export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, posted a modest expansion. The pace of growth was the most pronounced in 2016 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to the United States ($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 Panama (X%), while the prices for the other major destinations experienced mixed trend patterns.

Nuts Imports

Imports into Ecuador

Nuts imports into Ecuador contracted dramatically to X tons in 2022, with a decrease of X% on 2021. Over the period under review, imports saw a pronounced descent. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, nuts imports shrank markedly to $X in 2022. In general, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Chile (X tons) constituted the largest nuts supplier to Ecuador, accounting for a X% share of total imports. Moreover, nuts imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Brazil (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Chile was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Brazil (X% per year).

In value terms, the largest nuts suppliers to Ecuador were the United States ($X), Chile ($X) and Brazil ($X), with a combined X% share of total imports. Mexico, Peru and China lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Peru, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 nuts import price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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