Latin America and the Caribbean: Root And Tuber Market 2024

Root And Tuber Market Size in Latin America and the Caribbean

The Latin American root and tuber market dropped modestly to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Root And Tuber Production in Latin America and the Caribbean

In value terms, root and tuber production fell to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Brazil (X tons) constituted the country with the largest volume of root and tuber production, comprising approx. X% of total volume. Moreover, root and tuber production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), threefold. Colombia (X tons) ranked third in terms of total production with a X% share.

In Brazil, root and tuber production declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (X% per year) and Colombia (X% per year).

In 2022, the average yield of roots and tubers in Latin America and the Caribbean declined modestly to X tons per ha, remaining relatively unchanged against the year before. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2021, and then dropped modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The root and tuber harvested area was estimated at X ha in 2022, approximately mirroring the previous year's figure. Over the period under review, the harvested area, however, saw a slight decrease. The pace of growth appeared the most rapid in 2015 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the root and tuber harvested area remained at a lower figure.

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Root And Tuber Exports

Exports in Latin America and the Caribbean

After four years of growth, overseas shipments of roots and tubers decreased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then fell in the following year.

In value terms, root and tuber exports fell to $X in 2022. Total exports indicated a prominent 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. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then declined slightly in the following year.

Exports by Country

Costa Rica represented the main exporting country with an export of about X tons, which reached X% of total exports. Guatemala (X tons) ranks second in terms of the total exports with a X% share, followed by Mexico (X%), Argentina (X%), Ecuador (X%), Peru (X%) and Honduras (X%).

Costa Rica experienced a relatively flat trend pattern with regard to volume of exports of roots and tubers. At the same time, Peru (X%), Argentina (X%), Honduras (X%), Ecuador (X%) and Mexico (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Guatemala (X%) illustrated a downward trend over the same period. Argentina (X p.p.), Peru (X p.p.), Ecuador (X p.p.), Honduras (X p.p.) and Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Costa Rica and Guatemala saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Costa Rica ($X) remains the largest root and tuber supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Costa Rica totaled X%. In the other countries, the average annual rates were as follows: Ecuador (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, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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

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

Root And Tuber Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of roots and tubers increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. The total import 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 pace of growth appeared the most rapid in 2019 with an increase of X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, root and tuber imports skyrocketed to $X in 2022. Total imports indicated a remarkable 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. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons), distantly followed by El Salvador (X tons), Paraguay (X tons), Trinidad and Tobago (X tons), the Dominican Republic (X tons) and Cuba (X tons) were the major importers of roots and tubers, together committing X% of total imports. The following importers - Bolivia (X tons), Brazil (X tons), Chile (X tons), Bahamas (X tons), Honduras (X tons), Curacao (X tons) and Guyana (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 key importing countries, was attained by Honduras (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported roots and tubers in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by the Dominican Republic ($X), with an X% share of total imports. It was followed by El Salvador, with a X% share.

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: the Dominican Republic (X% per year) and El Salvador (X% per year).

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. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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