Latin America and the Caribbean: Nuts Market 2024

Nuts Market Size in Latin America and the Caribbean

The Latin American nuts market soared to $X in 2022, surging by X% against the previous year. The total consumption indicated strong 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, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Nuts Production in Latin America and the Caribbean

In value terms, nuts production dropped slightly to $X in 2022 estimated in export price. The total production indicated a notable 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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

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

The average nuts yield expanded modestly to X tons per ha in 2022, picking up by X% on the year before. The yield indicated buoyant growth 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. Based on 2022 figures, nuts yield decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the yield increased by X% against the previous year. Over the period under review, the nuts yield hit record highs at X tons per ha in 2018; however, from 2019 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 nuts harvested area shrank to X ha in 2022, flattening at the previous year's figure. Overall, the harvested area showed a noticeable reduction. The growth pace was the most rapid in 2020 with an increase of X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

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Nuts Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of nuts decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, nuts exports declined to $X in 2022. Total exports indicated a pronounced 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, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Chile represented the key exporter of nuts in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. Mexico (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (X%). The following exporters - Argentina (X tons), Guatemala (X tons), the Dominican Republic (X tons) and Bolivia (X tons) - together made up X% of total exports.

Chile was also the fastest-growing in terms of the nuts exports, with a CAGR of X% from 2012 to 2022. At the same time, Argentina (X%), Bolivia (X%), Guatemala (X%) and the Dominican Republic (X%) displayed positive paces of growth. By contrast, Brazil (X%) and Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest nuts supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

In Chile, nuts 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: Mexico (X% per year) and Guatemala (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. Over the period under review, the export price showed a mild decrease. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

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

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

Nuts Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of nuts decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports recorded a perceptible reduction. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, nuts imports contracted remarkably to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X tons) was the main importer of nuts, comprising X% of total imports. Brazil (X tons) took the second position in the ranking, distantly followed by Peru (X tons). All these countries together took approx. X% share of total imports.

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

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

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

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 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 Mexico ($X per ton), while Brazil ($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 import price figures.

Source: IndexBox Platform

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