Latin America and the Caribbean: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in Latin America and the Caribbean

The Latin American preserved frozen potato market surged to $X in 2021, jumping by 22% against the previous year. The market value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Preserved Frozen Potato Production in Latin America and the Caribbean

In value terms, preserved frozen potato production expanded significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

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Preserved Frozen Potato Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tons of frozen potatoes prepared or preserved were exported in Latin America and the Caribbean; with an increase of 14% compared with the year before. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -1.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 42%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved frozen potato exports expanded sharply to $X in 2021. The total export value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 43%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Argentina prevails in exports structure, recording X tons, which was approx. 97% of total exports in 2021. Brazil (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to preserved frozen potato exports from Argentina stood at +6.0%. At the same time, Brazil (+67.4%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +67.4% from 2012-2021. Brazil (+1.6 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, Argentina ($X) remains the largest preserved frozen potato supplier in Latin America and the Caribbean, comprising 97% of total exports. The second position in the ranking was held by Brazil ($X), with a 1.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Argentina totaled +2.9%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the export price, however, saw a noticeable decline. The growth pace was the most rapid in 2013 when the export price increased by 8.4% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Argentina ($X per ton), while Brazil amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-3.0%).

Preserved Frozen Potato Imports

Imports in Latin America and the Caribbean

Preserved frozen potato imports surged to X tons in 2021, growing by 27% compared with 2020 figures. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved frozen potato imports soared to $X in 2021. The total import value increased at an average annual rate of +6.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil represented the key importer of frozen potatoes prepared or preserved in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was near 33% of total imports in 2021. Mexico (X tons) ranks second in terms of the total imports with a 17% share, followed by Chile (12%) and Colombia (6.3%). Costa Rica (X tons), the Dominican Republic (X tons), Guatemala (X tons), Panama (X tons), Uruguay (X tons), Jamaica (X tons), Honduras (X tons) and Peru (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +157.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved frozen potato importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Chile ($X), with a combined 61% share of total imports. These countries were followed by Colombia, Guatemala, Costa Rica, Panama, the Dominican Republic, Uruguay, Honduras, Peru and Jamaica, which together accounted for a further 28%.

Panama, with a CAGR of +144.6%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 1.9% against the previous year. Over the period under review, the import price, however, saw a slight contraction. The most prominent rate of growth was recorded in 2013 when the import price increased by 16%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Guatemala ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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