Latin America and the Caribbean: Plantain Market 2024

Plantain Market Size in Latin America and the Caribbean

The Latin American plantain market was estimated at $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Plantain Production in Latin America and the Caribbean

In value terms, plantain production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

The country with the largest volume of plantain production was Colombia (X tons), comprising approx. X% of total volume. Moreover, plantain production in Colombia exceeded the figures recorded by the second-largest producer, the Dominican Republic (X tons), twofold. The third position in this ranking was held by Ecuador (X tons), with a X% share.

In Colombia, plantain production plunged by an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the Dominican Republic (X% per year) and Ecuador (X% per year).

The average plantain yield shrank to X tons per ha in 2022, approximately equating the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield stood 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, the plantain harvested area in Latin America and the Caribbean reached X ha, approximately reflecting the previous year's figure. Overall, the harvested area, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area stood at a somewhat lower figure.

Plantain Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of plantains decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, plantain exports declined rapidly to $X in 2022. Total exports indicated a moderate 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. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then fell significantly in the following year.

Exports by Country

In 2022, Guatemala (X tons) and Ecuador (X tons) represented the key exporters of plantains in Latin America and the Caribbean, together accounting for near X% of total exports. It was distantly followed by Colombia (X tons) and Nicaragua (X tons), together comprising a X% share of total exports. Mexico (X tons) held a minor share of total exports.

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

In value terms, Ecuador ($X), Guatemala ($X) and Colombia ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Guatemala, with a CAGR of X%, saw 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. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

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

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

Plantain Imports

Imports in Latin America and the Caribbean

In 2022, the amount of plantains imported in Latin America and the Caribbean rose sharply to X tons, increasing by X% against the year before. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, plantain imports surged to $X in 2022. Total imports indicated a prominent 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, imports increased by X% against 2013 indices. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, El Salvador (X tons) was the largest importer of plantains, mixing up X% of total imports. Honduras (X tons) ranks second in terms of the total imports with a X% share, followed by Colombia (X%) and Chile (X%). The following importers - Costa Rica (X tons), Guatemala (X tons) and Argentina (X tons) - together made up X% of total imports.

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

In value terms, the largest plantain importing markets in Latin America and the Caribbean were Honduras ($X), El Salvador ($X) and Chile ($X), with a combined X% share of total imports. Costa Rica, Colombia, Argentina and Guatemala lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Guatemala, 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, surging by X% against the previous year. Import price indicated notable 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, plantain import price increased by X% against 2015 indices. The pace of growth was the most pronounced in 2019 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 Argentina ($X per ton), while Colombia ($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 more modest paces of growth.

Source: IndexBox Platform

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