Latin America and the Caribbean: Chili And Pepper Market 2024

Chili And Pepper Market Size in Latin America and the Caribbean

The Latin American chili and pepper market dropped to $X in 2023, which is down by X% against the previous year. The total consumption indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Chili And Pepper Production in Latin America and the Caribbean

In value terms, chili and pepper production declined to $X in 2023 estimated in export price. The total production indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

The country with the largest volume of chili and pepper production was Mexico (X tons), comprising approx. X% of total volume. Moreover, chili and pepper production in Mexico exceeded the figures recorded by the second-largest producer, Peru (X tons), more than tenfold. The third position in this ranking was held by Argentina (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume in Mexico stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Peru (X% per year) and Argentina (X% per year).

In 2023, the average yield of chilies and peppers (green) in Latin America and the Caribbean reduced slightly to X tons per ha, with a decrease of X% compared with the previous year's figure. Overall, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2023, 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.

In 2023, approx. X ha of chilies and peppers (green) were harvested in Latin America and the Caribbean; which is down by X% against 2022 figures. The harvested area increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the harvested area dedicated to chili and pepper production reached the peak figure at X ha in 2022, and then reduced in the following year.

Chili And Pepper Exports

Exports in Latin America and the Caribbean

In 2023, approx. X tons of chilies and peppers (green) were exported in Latin America and the Caribbean; remaining constant against the previous year's figure. Total exports indicated perceptible growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, chili and pepper exports expanded remarkably to $X in 2023. Total exports indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2012 indices. The growth pace was the most rapid in 2016 when exports increased by X%. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2023. The following exporters - Guatemala (X tons) and Honduras (X tons) - each amounted to a X% share of total exports.

Mexico was also the fastest-growing in terms of the chilies and peppers (green) exports, with a CAGR of X% from 2012 to 2023. At the same time, Guatemala (X%) and Honduras (X%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Mexico totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Honduras (X% per year) and Guatemala (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, picking up by X% against the previous year. Export price indicated noticeable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, chili and pepper export price increased by X% against 2021 indices. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2023, 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 Honduras ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Chili And Pepper Imports

Imports in Latin America and the Caribbean

Chili and pepper imports stood at X tons in 2023, standing approx. at 2022. Total imports indicated a mild increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are likely to continue growth in the near future.

In value terms, chili and pepper imports reached $X in 2023. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2022 with an increase of X%. The level of import peaked in 2023 and is likely to see gradual growth in years to come.

Imports by Country

El Salvador was the largest importer of chilies and peppers (green) in Latin America and the Caribbean, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. Mexico (X tons) took the second position in the ranking, followed by Paraguay (X tons). All these countries together took near X% share of total imports. The following importers - Bahamas (X tons), Aruba (X tons), Cayman Islands (X tons) and Trinidad and Tobago (X tons) - together made up X% of total imports.

El Salvador experienced a relatively flat trend pattern with regard to volume of imports of chilies and peppers (green). At the same time, Cayman Islands (X%), Paraguay (X%), Bahamas (X%) and Aruba (X%) displayed positive paces of growth. Moreover, Cayman Islands emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Trinidad and Tobago experienced a relatively flat trend pattern. By contrast, Mexico (X%) illustrated a downward trend over the same period. Paraguay (X p.p.), Bahamas (X p.p.), Cayman Islands (X p.p.) and Aruba (X p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest chili and pepper importing markets in Latin America and the Caribbean were El Salvador ($X), Mexico ($X) and Aruba ($X), with a combined X% share of total imports. Bahamas, Cayman Islands, Trinidad and Tobago and Paraguay lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Cayman Islands, 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

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, import prices hit record highs in 2023 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform