Latin America and the Caribbean: Grain Market 2024

Grain Market Size in Latin America and the Caribbean

After two years of growth, the Latin American grain market decreased by X% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Grain Production in Latin America and the Caribbean

In value terms, grain production expanded markedly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Brazil (X tons), Argentina (X tons) and Mexico (X tons), together comprising X% of total production.

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

The average grain yield reached X tons per ha in 2022, surging by X% against 2021 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the grain yield hit record highs at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The grain harvested area dropped slightly to X ha in 2022, almost unchanged from the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of harvested area peaked at X ha in 2021, and then reduced in the following year.

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Grain Exports

Exports in Latin America and the Caribbean

After two years of decline, overseas shipments of cereal grains increased by X% to X tons in 2022. Total exports indicated a remarkable increase 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. The pace of growth was the most pronounced in 2019 with an increase of X%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, grain exports skyrocketed to $X in 2022. Over the period under review, exports posted a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina (X tons) and Brazil (X tons) dominates exports structure, together achieving X% of total exports. It was distantly followed by Paraguay (X tons), committing a X% share of total exports.

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

In value terms, Argentina ($X), Brazil ($X) and Paraguay ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Brazil, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

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

Grain Imports

Imports in Latin America and the Caribbean

In 2022, grain imports in Latin America and the Caribbean was estimated at X tons, growing by X% on the year before. The total import volume 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 growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, grain imports soared to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value 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 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

Mexico represented the key importing country with an import of about X tons, which finished at X% of total imports. Brazil (X tons) held the second position in the ranking, followed by Colombia (X tons), Peru (X tons), Guatemala (X tons) and the Dominican Republic (X tons). All these countries together took approx. X% share of total imports. Chile (X tons), Venezuela (X tons), Cuba (X tons), Ecuador (X tons), Costa Rica (X tons), El Salvador (X tons) and Honduras (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to grain imports into Mexico stood at X%. At the same time, the Dominican Republic (X%), Guatemala (X%), Honduras (X%), Ecuador (X%), El Salvador (X%), Colombia (X%), Peru (X%), Costa Rica (X%) and Brazil (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Cuba and Chile experienced a relatively flat trend pattern. By contrast, Venezuela (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.), the Dominican Republic (X p.p.) and Guatemala (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (X p.p.), Brazil (X p.p.) and Venezuela (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported cereal grains in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Brazil (X% per year).

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. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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