Latin America and the Caribbean: Pyrethrum And Peppermint Market 2022

Pyrethrum And Peppermint Market Size in Latin America and the Caribbean

In 2021, the Latin American pyrethrum and peppermint market increased by X% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the near future.

Pyrethrum And Peppermint Production in Latin America and the Caribbean

In value terms, pyrethrum and peppermint production shrank slightly to $X in 2021 estimated in export prices. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Production By Country in Latin America and the Caribbean

Mexico (X tonnes) constituted the country with the largest volume of pyrethrum and peppermint production, accounting for X% of total volume. Moreover, pyrethrum and peppermint production in Mexico exceeded the figures recorded by the second-largest producer, Peru (X tonnes), threefold. Chile (X tonnes) ranked third in terms of total production with a X% share.

From 2012 to 2021, the average annual growth rate of volume in Mexico amounted to +X%. The remaining producing countries recorded the following average annual rates of production growth: Peru (+X% per year) and Chile (+X% per year).

Pyrethrum And Peppermint Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tonnes of pyrethrum and peppermint were exported in Latin America and the Caribbean; which is down by -X% compared with 2020 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% year-to-year. The volume of export peaked at X tonnes in 2020, and then dropped in the following year.

In value terms, pyrethrum and peppermint exports expanded notably to $X in 2021. The total export value increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by X% year-to-year. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

Mexico was the major exporting country with an export of around X tonnes, which finished at X% of total exports. Peru (X tonnes) ranks second in terms of the total exports with a X% share, followed by Colombia (X%) and Chile (X%). Paraguay (X tonnes), Guatemala (X tonnes) and Brazil (X tonnes) held a minor share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of pyrethrum and peppermint. At the same time, Guatemala (+X%), Colombia (+X%), Peru (+X%), Paraguay (+X%) and Brazil (+X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. By contrast, Chile (-X%) illustrated a downward trend over the same period. Colombia (+X p.p.), Peru (+X p.p.) and Guatemala (+X p.p.) significantly strengthened its position in terms of the total exports, while Chile saw its share reduced by -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Chile ($X) and Colombia ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for X% of total exports. Peru, Brazil, Paraguay and Guatemala lagged somewhat behind, together comprising a further X terms of the main exporting countries, Guatemala, 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

In 2021, the pyrethrum and peppermint export price in Latin America and the Caribbean amounted to $X per tonne, growing by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per tonne. From 2017 to 2021, the the export prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Brazil ($X per tonne), while Guatemala ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+X%), while the other leaders experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports in Latin America and the Caribbean

After five years of growth, overseas purchases of pyrethrum and peppermint decreased by -X% to X tonnes in 2021. In general, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of X% y-o-y. As a result, imports attained the peak of X tonnes, leveling off in the following year.

In value terms, pyrethrum and peppermint imports contracted to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% y-o-y. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2021, Brazil (X tonnes) represented the largest importer of pyrethrum and peppermint, creating X% of total imports. Mexico (X tonnes) ranks second in terms of the total imports with a X% share, followed by Chile (X%), Argentina (X%) and Colombia (X%). Guatemala (X tonnes), Nicaragua (X tonnes), El Salvador (X tonnes), Paraguay (X tonnes), Costa Rica (X tonnes), Uruguay (X tonnes) and Ecuador (X tonnes) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to pyrethrum and peppermint imports into Brazil stood at +X%. At the same time, Nicaragua (+X%), Colombia (+X%), Costa Rica (+X%), El Salvador (+X%), Ecuador (+X%), Guatemala (+X%) and Mexico (+X%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. Paraguay, Chile and Uruguay experienced a relatively flat trend pattern. By contrast, Argentina (-X%) illustrated a downward trend over the same period. Brazil (+X p.p.), Colombia (+X p.p.) and Nicaragua (+X p.p.) significantly strengthened its position in terms of the total imports, while Uruguay, Paraguay, Mexico, Chile and Argentina saw its share reduced by -X%, -X%, -X%, -X% and -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil amounted to +X%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and Chile (+X% per year).

Import Prices by Country

The pyrethrum and peppermint import price in Latin America and the Caribbean stood at $X per tonne in 2021, declining by -X% against the previous year. Over the period under review, the import price continues to indicate a slight shrinkage. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per tonne in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Chile ($X per tonne), while Nicaragua ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform