Latin America and the Caribbean: Lentil Market 2024

Lentil Market Size in Latin America and the Caribbean

The Latin American lentil market rose rapidly to $X in 2022, with an increase of X% against the previous year. The total consumption indicated a moderate 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, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Lentil Production in Latin America and the Caribbean

In value terms, lentil production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a modest increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Argentina (X tons) constituted the country with the largest volume of lentil production, accounting for X% of total volume. Moreover, lentil production in Argentina exceeded the figures recorded by the second-largest producer, Mexico (X tons), sixfold. The third position in this ranking was held by Ecuador (X tons), with a X% share.

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

In 2022, the average lentil yield in Latin America and the Caribbean soared to X tons per ha, growing by X% against the previous year's figure. Over the period under review, the yield enjoyed tangible growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2019 to 2022, the growth of the lentil 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 lentil harvested area in Latin America and the Caribbean skyrocketed to X ha, growing by X% on the previous year. The total harvested area indicated a buoyant increase from 2012 to 2022: its figure 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 when the harvested area increased by X%. The level of harvested area peaked in 2022 and is expected to retain growth in years to come.

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Lentil Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of lentils were finally on the rise to reach X tons after three years of decline. Over the period under review, exports enjoyed a measured expansion. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, lentil exports skyrocketed to $X in 2022. In general, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

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

From 2012 to 2022, average annual rates of growth with regard to lentil exports from Argentina stood at X%. At the same time, Colombia (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Mexico (X%) illustrated a downward trend over the same period. While the share of Colombia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (X p.p.) and Argentina (X p.p.) displayed negative dynamics.

In value terms, Argentina ($X) remains the largest lentil supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports.

In Argentina, lentil exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by X% against the previous year. Export price indicated a slight increase 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, lentil export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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 Mexico ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Lentil Imports

Imports in Latin America and the Caribbean

In 2022, the amount of lentils imported in Latin America and the Caribbean dropped remarkably to X tons, falling by X% compared with the previous year. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, lentil imports rose markedly to $X in 2022. Total imports indicated notable growth 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 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Colombia (X tons), distantly followed by Peru (X tons), Mexico (X tons), Ecuador (X tons), Brazil (X tons) and Venezuela (X tons) represented the main importers of lentils, together committing X% of total imports. Chile (X tons) followed a long way behind the leaders.

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

In value terms, Colombia ($X), Peru ($X) and Mexico ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Ecuador, Brazil, Chile and Venezuela lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Ecuador, with a CAGR of X%, saw 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated a measured expansion 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, lentil import price increased by X% against 2019 indices. The growth pace was the most rapid in 2015 an increase of X%. The level of import peaked in 2022 and is likely to see steady 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 Brazil ($X per ton), while Venezuela ($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 more modest paces of growth.

Source: IndexBox Platform