Ecuador: Shelled Hazelnut Market 2022

Shelled Hazelnut Market Size in Ecuador

The Ecuadorian shelled hazelnut market surged to $X in 2021, picking up by 19% 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 market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Shelled hazelnut consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Shelled Hazelnut Exports

Exports from Ecuador

In 2016, the amount of shelled hazelnuts exported from Ecuador dropped to X kg, reducing by -11.5% on the previous year. Over the period under review, exports, however, enjoyed significant growth. Over the period under review, the exports attained the peak figure at X kg in 2015, and then dropped in the following year.

In value terms, shelled hazelnut exports dropped to $X in 2016. Overall, exports, however, continue to indicate significant growth. The exports peaked at $X in 2015, and then fell in the following year.

Exports by Country

Kuwait (X kg) was the main destination for shelled hazelnut exports from Ecuador, with a approx. 100% share of total exports.

From 2012 to 2016, the average annual rate of growth in terms of volume to Kuwait was relatively modest.

In value terms, Kuwait ($X) emerged as the key foreign market for shelled hazelnut exports from Ecuador.

From 2012 to 2016, the average annual growth rate of value to Kuwait was relatively modest.

Export Prices by Country

The average shelled hazelnut export price stood at $X per ton in 2016, rising by 3.7% against the previous year. Over the period under review, the export price recorded a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2016, the rate of growth in terms of prices for the Netherlands amounted to 0.0% per year.

Shelled Hazelnut Imports

Imports into Ecuador

In 2021, the amount of shelled hazelnuts imported into Ecuador was estimated at X tons, picking up by 11% against the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 68% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, shelled hazelnut imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 52%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Chile (X tons) constituted the largest shelled hazelnut supplier to Ecuador, with a 69% share of total imports. Moreover, shelled hazelnut imports from Chile exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from Chile stood at +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-7.7% per year) and the United States (-22.8% per year).

In value terms, Chile ($X) constituted the largest supplier of shelled hazelnut to Ecuador, comprising 68% of total imports. The second position in the ranking was held by Turkey ($X), with a 32% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile totaled +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-4.2% per year) and the United States (-22.1% per year).

Import Prices by Country

The average shelled hazelnut import price stood at $X per ton in 2021, growing by 9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2015 an increase of 29% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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