Latin America and the Caribbean: Carob Market 2024

Carob Market Size in Latin America and the Caribbean

The Latin American carob market reached $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Carob Production in Latin America and the Caribbean

In value terms, carob production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Costa Rica (X tons) remains the largest carob producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, carob production in Costa Rica exceeded the figures recorded by the second-largest producer, Mexico (X tons), threefold.

In Costa Rica, carob production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (X% per year) and Guatemala (X% per year).

In 2022, the average yield of carob in Latin America and the Caribbean reduced rapidly to X tons per ha, falling by X% against 2021 figures. In general, the yield showed a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. The level of yield peaked at X tons per ha in 2012; however, from 2013 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 harvested area of carob in Latin America and the Caribbean soared to X ha, increasing by X% against the previous year's figure. Over the period under review, the harvested area posted buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of harvested area peaked in 2022 and is likely to continue growth in the immediate term.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Carob Exports

Exports in Latin America and the Caribbean

After two years of growth, overseas shipments of carob decreased by X% to X tons in 2022. Overall, exports, however, saw a prominent increase. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank remarkably in the following year.

In value terms, carob exports fell to $X in 2022. In general, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Costa Rica prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. Peru (X tons) followed a long way behind the leaders.

Costa Rica was also the fastest-growing in terms of the carob exports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%) displayed positive paces of growth. Costa Rica (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Costa Rica, carob exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price showed a resilient expansion. The growth pace was the most rapid in 2013 when the export price increased by X%. The level of export peaked at $X per ton in 2019; however, from 2020 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 Peru ($X per ton), while Costa Rica amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (X%).

Carob Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of carob were imported in Latin America and the Caribbean; surging by X% on 2021 figures. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, carob imports expanded notably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Argentina (X tons), Peru (X tons), Colombia (X tons), Costa Rica (X tons), Chile (X tons) and Brazil (X tons) represented the key importer of carob in Latin America and the Caribbean, mixing up X% of total import. El Salvador (X tons) followed a long way behind the leaders.

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

In value terms, the largest carob importing markets in Latin America and the Caribbean were Peru ($X), Argentina ($X) and Costa Rica ($X), together accounting for X% of total imports. Chile, Brazil, Colombia and El Salvador lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Colombia, with a CAGR of X%, recorded the highest growth rate of 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, picking up 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 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Costa Rica ($X per ton), while Colombia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :