Latin America and the Caribbean: Avocado Market 2024

Avocado Market Size in Latin America and the Caribbean

In 2022, the Latin American avocado market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption saw a strong increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Avocado Production in Latin America and the Caribbean

In value terms, avocado production fell to $X in 2022 estimated in export price. Overall, production showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of avocado production was Mexico (X tons), comprising approx. X% of total volume. Moreover, avocado production in Mexico exceeded the figures recorded by the second-largest producer, Peru (X tons), fourfold. The third position in this ranking was taken by the Dominican Republic (X tons), with a X% share.

In Mexico, avocado production increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (X% per year) and the Dominican Republic (X% per year).

The average avocado yield declined slightly to X tons per ha in 2022, leveling off at the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. Over the period under review, the avocado yield hit record highs at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the avocado harvested area in Latin America and the Caribbean reached X ha, with an increase of X% against the year before. The total harvested area indicated a buoyant expansion from 2012 to 2022: its figure 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, avocado harvested area decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to avocado production attained the maximum at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

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Avocado Exports

Exports in Latin America and the Caribbean

After three years of growth, overseas shipments of avocados decreased by X% to X tons in 2022. In general, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, avocado exports reduced modestly to $X in 2022. Over the period under review, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

Mexico represented the major exporting country with an export of about X tons, which finished at X% of total exports. Peru (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Chile (X%) and Colombia (X%).

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest avocado supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Peru ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean 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 2017 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced mixed trends in the export price figures.

Avocado Imports

Imports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded growth in supplies from abroad of avocados, which increased by X% to X tons in 2022. Overall, imports showed strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, avocado imports fell significantly to $X in 2022. Over the period under review, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined markedly in the following year.

Imports by Country

In 2022, Chile (X tons) represented the main importer of avocados, making up X% of total imports. It was distantly followed by Honduras (X tons), Argentina (X tons), El Salvador (X tons) and Costa Rica (X tons), together comprising a X% share of total imports. The following importers - Panama (X tons) and Uruguay (X tons) - each finished at a X% share of total imports.

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

In value terms, the largest avocado importing markets in Latin America and the Caribbean were Chile ($X), Argentina ($X) and El Salvador ($X), together accounting for X% of total imports.

Among the main importing countries, Chile, with a CAGR of X%, saw 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 import price in Latin America and the Caribbean amounted to $X per ton, with a decrease of X% against the previous year. 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. The pace of growth was the most pronounced in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Honduras ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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