Latin America and the Caribbean: Ginger Market 2024

Ginger Market Size in Latin America and the Caribbean

In 2022, after four years of decline, there was significant growth in the Latin American ginger market, when its value increased by X% to $X. The total consumption indicated a tangible increase 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. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ginger Production in Latin America and the Caribbean

In value terms, ginger production amounted to $X in 2022 estimated in export price. In general, production showed a resilient increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Peru (X tons), Brazil (X tons) and Guyana (X tons), with a combined X% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Guyana (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average ginger yield in Latin America and the Caribbean reduced slightly to X tons per ha, standing approx. at the year before. Overall, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the ginger yield remained at a somewhat 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 ginger were harvested in Latin America and the Caribbean; almost unchanged from the year before. In general, the harvested area recorded a buoyant increase. The pace of growth appeared the most rapid in 2017 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to ginger production reached the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Ginger Exports

Exports in Latin America and the Caribbean

In 2022, after six years of growth, there was significant decline in overseas shipments of ginger, when their volume decreased by X% to X tons. Over the period under review, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2014 with an increase of X%. The volume of export peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, ginger exports dropped significantly to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

In 2022, Peru (X tons) represented the largest exporter of ginger, creating X% of total exports. It was distantly followed by Brazil (X tons), mixing up a X% share of total exports. Costa Rica (X tons), Ecuador (X tons) and Honduras (X tons) held a minor share of total exports.

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

In value terms, Peru ($X), Brazil ($X) and Costa Rica ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Honduras and Ecuador lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Honduras, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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, waning by X% against the previous year. Over the period under review, the export price recorded a noticeable descent. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Honduras ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

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

Ginger Imports

Imports in Latin America and the Caribbean

After two years of growth, supplies from abroad of ginger decreased by X% to X tons in 2022. In general, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced remarkably in the following year.

In value terms, ginger imports plummeted to $X in 2022. Overall, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, Argentina (X tons) and Chile (X tons) were the major importers of ginger in Latin America and the Caribbean, together amounting to near X% of total imports. Colombia (X tons) ranks next in terms of the total imports with a X% share, followed by Brazil (X%) and Trinidad and Tobago (X%). Uruguay (X tons), Guatemala (X tons), Mexico (X tons), El Salvador (X tons), Barbados (X tons) and Bahamas (X tons) took a little share of total imports.

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

In value terms, Argentina ($X) constitutes the largest market for imported ginger in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with an X% share of total imports. It was followed by Trinidad and Tobago, with a X% share.

In Argentina, ginger imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Trinidad and Tobago (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, showed a slight decrease. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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