Latin America and the Caribbean: Durum Wheat Market 2024

Durum Wheat Market Size in Latin America and the Caribbean

The Latin American durum wheat market expanded significantly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption posted a remarkable increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Durum Wheat Production in Latin America and the Caribbean

In value terms, durum wheat production rose significantly to $X in 2022 estimated in export price. In general, production continues to indicate a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Argentina (X tons) remains the largest durum wheat producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, durum wheat production in Argentina exceeded the figures recorded by the second-largest producer, Brazil (X tons), threefold. Mexico (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Argentina stood at X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Mexico (X% per year).

In 2022, the average durum wheat yield in Latin America and the Caribbean shrank slightly to X tons per ha, dropping by X% on the year before. Overall, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by X%. The level of yield peaked 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, approx. X ha of durum wheat were harvested in Latin America and the Caribbean; increasing by X% against the previous year. The harvested area 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 growth pace was the most rapid in 2014 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

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Durum Wheat Exports

Exports in Latin America and the Caribbean

In 2022, the amount of durum wheat exported in Latin America and the Caribbean fell markedly to X tons, shrinking by X% compared with 2021 figures. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, durum wheat exports declined sharply to $X in 2022. In general, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Panama (X tons), mixing up a X% share of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to durum wheat exports from Mexico stood at X%. At the same time, Panama (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Argentina (X%) illustrated a downward trend over the same period. Mexico (X p.p.) and Panama (X p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Mexico ($X) emerged as the largest durum wheat supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Panama ($X), with a X% share of total exports.

In Mexico, durum wheat exports shrank by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Panama (X% per year) and Argentina (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, posted a tangible increase. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then dropped rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Durum Wheat Imports

Imports in Latin America and the Caribbean

In 2022, durum wheat imports in Latin America and the Caribbean skyrocketed to X tons, rising by X% against the year before. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, durum wheat imports surged to $X in 2022. In general, imports continue to indicate tangible growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Ecuador represented the largest importing country with an import of around X tons, which reached X% of total imports. It was distantly followed by the Dominican Republic (X tons), Guatemala (X tons), El Salvador (X tons) and Nicaragua (X tons), together committing a X% share of total imports. Panama (X tons), Honduras (X tons), Peru (X tons), Brazil (X tons) and Belize (X tons) followed a long way behind the leaders.

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

In value terms, the largest durum wheat importing markets in Latin America and the Caribbean were Ecuador ($X), the Dominican Republic ($X) and Guatemala ($X), together comprising X% of total imports. El Salvador, Nicaragua, Panama, Peru, Honduras, Brazil and Belize lagged somewhat behind, together comprising a further X%.

Panama, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated pronounced growth 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. Based on 2022 figures, durum wheat import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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 Peru ($X per ton), while Belize ($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 other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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