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Report Latin America and the Caribbean - Fonio - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

Latin America and the Caribbean - Fonio - Market Analysis, Forecast, Size, Trends and Insights

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Latin America and the Caribbean: Fonio Market 2024

Fonio Market Size in Latin America and the Caribbean

In 2022, the Latin American fonio market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Fonio Production in Latin America and the Caribbean

In value terms, fonio production expanded to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level in 2022 and is likely to see gradual growth in the near future.

Peru (X tons) remains the largest fonio producing country in Latin America and the Caribbean, accounting for X% of total volume. Moreover, fonio production in Peru exceeded the figures recorded by the second-largest producer, Bolivia (X tons), eightfold.

In Peru, fonio production expanded at an average annual rate of X% over the period from 2012-2022.

Fonio Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of fonio decreased by X% to X kg, falling for the fourth year in a row after two years of growth. Over the period under review, exports faced a dramatic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, fonio exports stood at $X in 2021. In general, exports showed a dramatic descent. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, reducing by X% against the previous year. Over the period under review, the export price, however, continues to indicate modest growth. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2021, the rate of growth in terms of prices for Colombia amounted to X% per year.

Fonio Imports

Imports in Latin America and the Caribbean

In 2022, imports of fonio in Latin America and the Caribbean soared to X kg, growing by X% on the previous year's figure. Overall, imports, however, faced a dramatic curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, fonio imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a precipitous shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Guyana dominates imports structure, resulting at X kg, which was near X% of total imports in 2022. Bahamas (X kg) held a little share of total imports.

Guyana experienced a relatively flat trend pattern with regard to volume of imports of fonio. At the same time, Bahamas (X%) displayed positive paces of growth. Moreover, Bahamas emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Guyana (X p.p.) and Bahamas (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahamas ($X) and Guyana ($X) constituted the countries with the highest levels of imports in 2022.

In terms of the main importing countries, Bahamas, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price recorded a deep slump. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahamas (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

Peru constituted the country with the largest volume of fonio consumption, accounting for 88% of total volume. Moreover, fonio consumption in Peru exceeded the figures recorded by the second-largest consumer, Bolivia, eightfold.
Peru constituted the country with the largest volume of fonio production, comprising approx. 88% of total volume. Moreover, fonio production in Peru exceeded the figures recorded by the second-largest producer, Bolivia, eightfold.
In value terms, the largest fonio importing markets in Latin America and the Caribbean were Bahamas $58) and Guyana $50).
The export price in Latin America and the Caribbean stood at $1,583 per ton in 2021, falling by -66.2% against the previous year.
In 2022, the import price in Latin America and the Caribbean amounted to $1,385 per ton, dropping by -21.7% against the previous year.

This report provides an in-depth analysis of the fonio market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 94 - Fonio

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Latin America and the Caribbean, split by region and country
  • Trade (exports and imports) in Latin America and the Caribbean
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
    3. HARVESTED AREA AND YIELD BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Anguilla
    • Antigua and Barbuda
    • Argentina
    • Aruba
    • Bahamas
    • Barbados
    • Belize
    • Bolivia
    • Brazil
    • British Virgin Islands
    • Cayman Islands
    • Chile
    • Colombia
    • Costa Rica
    • Cuba
    • Curacao
    • Dominica
    • Dominican Republic
    • Ecuador
    • El Salvador
    • Falkland Islands (Malvinas)
    • French Guiana
    • Grenada
    • Guadeloupe
    • Guatemala
    • Guyana
    • Haiti
    • Honduras
    • Jamaica
    • Martinique
    • Mexico
    • Montserrat
    • Nicaragua
    • Panama
    • Paraguay
    • Peru
    • Saint Kitts and Nevis
    • Saint Lucia
    • Saint Vincent and the Grenadines
    • Saint Maarten (Dutch part)
    • Suriname
    • Trinidad and Tobago
    • Turks and Caicos Islands
    • United States Virgin Islands
    • Uruguay
    • Venezuela
    • Puerto Rico

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Harvested Area, By Country, 2012-2023
    7. Yield, By Country, 2012-2023
    8. Imports, In Physical Terms, By Country, 2012–2023
    9. Imports, In Value Terms, By Country, 2012–2023
    10. Import Prices, By Country Of Destination, 2012–2023
    11. Exports, In Physical Terms, By Country, 2012–2023
    12. Exports, In Value Terms, By Country, 2012–2023
    13. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Yield And Growth
    12. Exports And Growth
    13. Export Prices And Growth
    14. Market Size And Growth
    15. Per Capita Consumption
    16. Imports And Growth
    17. Import Prices
    18. Production, In Physical Terms, 2012–2023
    19. Production, In Value Terms, 2012–2023
    20. Area Harvested, 2012–2023
    21. Yield, 2012–2023
    22. Production, By Country, 2023
    23. Production, In Physical Terms, By Country, 2012–2023
    24. Harvested Area, By Country, 2023
    25. Harvested Area, By Country, 2012-2023
    26. Yield, By Country, 2012-2023
    27. Imports, In Physical Terms, 2012–2023
    28. Imports, In Value Terms, 2012–2023
    29. Imports, In Physical Terms, By Country, 2023
    30. Imports, In Physical Terms, By Country, 2012–2023
    31. Imports, In Value Terms, By Country, 2012–2023
    32. Import Prices, By Country, 2012–2023
    33. Exports, In Physical Terms, 2012–2023
    34. Exports, In Value Terms, 2012–2023
    35. Exports, In Physical Terms, By Country, 2023
    36. Exports, In Physical Terms, By Country, 2012–2023
    37. Exports, In Value Terms, By Country, 2012–2023
    38. Export Prices, 2012–2023

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