Ecuador: Cereal Market 2024

Cereal Market Size in Ecuador

The Ecuadorian cereal market amounted to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Cereal consumption peaked in 2022 and is expected to retain growth in the near future.

Cereal Production in Ecuador

In value terms, cereal production reached $X in 2022 estimated in export price. Overall, production saw a mild descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

The average yield of cereals in Ecuador dropped to X tons per ha in 2022, reducing by X% on the previous year. The yield figure increased at an average annual rate of X% over the period 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 2015 with an increase of X% against the previous year. The cereal yield peaked at X tons per ha in 2021, and then declined 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.

In 2022, approx. X ha of cereals were harvested in Ecuador; falling by X% against the previous year's figure. In general, the harvested area recorded a perceptible contraction. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the harvested area dedicated to cereal production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Cereal Exports

Exports from Ecuador

Cereal exports from Ecuador contracted markedly to X tons in 2022, declining by X% compared with the previous year. In general, exports faced a abrupt decline. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cereal exports declined sharply to $X in 2022. Overall, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Israel (X tons), the United States (X tons) and Canada (X tons) were the main destinations of cereal exports from Ecuador, together accounting for X% of total exports. Guatemala, Costa Rica, the Netherlands, France, Italy, Spain and Colombia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for cereal exported from Ecuador were Israel ($X), the United States ($X) and Canada ($X), together comprising X% of total exports. Guatemala, the Netherlands, France, Costa Rica, Italy, Spain and Colombia lagged somewhat behind, together accounting for a further X%.

Costa Rica, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cereal export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price continues to indicate resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cereal Imports

Imports into Ecuador

After three years of growth, overseas purchases of cereals decreased by X% to X tons in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume 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 pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, cereal imports surged to $X in 2022. Over the period under review, imports, however, posted prominent growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Canada (X tons), Argentina (X tons) and the United States (X tons) were the main suppliers of cereal imports to Ecuador, with a combined X% share of total imports. Brazil, Australia and Russia lagged somewhat behind, together accounting for a further X%.

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

In value terms, Canada ($X), Argentina ($X) and the United States ($X) were the largest cereal suppliers to Ecuador, together accounting for X% of total imports. Brazil, Australia and Russia lagged somewhat behind, together comprising a further X%.

Australia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cereal import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a perceptible 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, cereal import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Canada ($X per ton) and the United States ($X per ton), while the price for Argentina ($X per ton) and Brazil ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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