Latin America and the Caribbean: Artichoke Market 2024

Artichoke Market Size in Latin America and the Caribbean

The Latin American artichoke market contracted slightly to $X in 2022, leveling off at the previous year. In general, consumption saw a noticeable curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Artichoke Production in Latin America and the Caribbean

In value terms, artichoke production rose remarkably to $X in 2022 estimated in export price. Overall, production showed a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Peru (X tons) constituted the country with the largest volume of artichoke production, accounting for X% of total volume. Moreover, artichoke production in Peru exceeded the figures recorded by the second-largest producer, Argentina (X tons), threefold. The third position in this ranking was taken by Chile (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Peru amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Argentina (X% per year) and Chile (X% per year).

The average artichoke yield reached X tons per ha in 2022, remaining stable against the previous year's figure. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the artichoke yield remained at a somewhat lower figure. 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 artichokes were harvested in Latin America and the Caribbean; which is down by X% on the year before. Over the period under review, the harvested area recorded a perceptible reduction. The growth pace was the most rapid in 2017 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to artichoke production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Artichoke Exports

Exports in Latin America and the Caribbean

In 2022, artichoke exports in Latin America and the Caribbean skyrocketed to X tons, surging by X% against the previous year's figure. Overall, exports posted a temperate expansion. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, artichoke exports surged to $X in 2022. In general, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Guatemala (X tons), mixing up a X% share of total exports.

Exports from Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Guatemala (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 2012-2022. Guatemala (X p.p.) and Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to X%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, jumping by X% against the previous year. Export price indicated a mild 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, artichoke export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, 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 Mexico ($X per ton), while Guatemala stood at $X per ton.

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

Artichoke Imports

Imports in Latin America and the Caribbean

After two years of decline, purchases abroad of artichokes increased by X% to X tons in 2022. In general, imports, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2013 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, artichoke imports rose markedly to $X in 2022. Total imports indicated a slight expansion 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 decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico dominates imports structure, amounting to X tons, which was near X% of total imports in 2022. Brazil (X tons) took the second position in the ranking, followed by Bahamas (X tons) and Peru (X tons). All these countries together took near X% share of total imports. Panama (X tons), the Dominican Republic (X tons) and El Salvador (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to artichoke imports into Mexico stood at X%. At the same time, Brazil (X%), Bahamas (X%), El Salvador (X%) and Panama (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, the Dominican Republic (X%) and Peru (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.), Brazil (X p.p.), Bahamas (X p.p.), Panama (X p.p.) and El Salvador (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Peru (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported artichokes in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Bahamas ($X), with a X% share of total imports. It was followed by Brazil, with an 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: Bahamas (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Import price indicated prominent growth 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, artichoke import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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