Latin America and the Caribbean: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in Latin America and the Caribbean

The Latin American market for broad beans and horse beans (dry) declined to $X in 2023, waning by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Production of Broad Beans And Horse Beans (Dry) in Latin America and the Caribbean

In value terms, broad bean and horse bean production shrank modestly to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

The country with the largest volume of broad bean and horse bean production was Peru (X tons), comprising approx. X% of total volume. Moreover, broad bean and horse bean production in Peru exceeded the figures recorded by the second-largest producer, Mexico (X tons), twofold. The third position in this ranking was held by Guatemala (X tons), with a X% share.

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

The average broad bean and horse bean yield fell slightly to X tons per ha in 2023, therefore, remained relatively stable against the year before. The yield figure increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the broad bean and horse bean yield reached the peak level at X tons per ha in 2022, and then fell 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.

In 2023, approx. X ha of broad beans and horse beans (dry) were harvested in Latin America and the Caribbean; approximately reflecting the year before. Overall, the harvested area showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2020; however, from 2021 to 2023, the harvested area failed to regain momentum.

Exports of Broad Beans And Horse Beans (Dry)

Exports in Latin America and the Caribbean

Broad bean and horse bean exports rose significantly to X tons in 2023, with an increase of X% on 2022. Total exports indicated a temperate expansion from 2012 to 2023: its volume 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 2021 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, broad bean and horse bean exports rose sharply to $X in 2023. Total exports indicated modest 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, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Peru represented the largest exporter of broad beans and horse beans (dry) in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2023. Mexico (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Bolivia (X%). Guatemala (X tons) followed a long way behind the leaders.

Peru experienced a relatively flat trend pattern with regard to volume of exports of broad beans and horse beans (dry). At the same time, Mexico (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Bolivia experienced a relatively flat trend pattern. While the share of Mexico (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Bolivia (X p.p.) and Peru (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest broad bean and horse bean supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by Bolivia, with a X% share.

In Peru, broad bean and horse bean exports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Mexico (X% per year) and Bolivia (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Mexico ($X per ton) and Bolivia ($X per ton), while Guatemala ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced a decline in the export price figures.

Imports of Broad Beans And Horse Beans (Dry)

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of broad beans and horse beans (dry) decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, imports recorded a noticeable slump. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, broad bean and horse bean imports fell to $X in 2023. Over the period under review, imports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Ecuador (X tons) and Mexico (X tons) prevails in imports structure, together comprising X% of total imports. It was distantly followed by Jamaica (X tons), mixing up a X% share of total imports. The Dominican Republic (X tons), Colombia (X tons), Chile (X tons) and Panama (X tons) held a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Chile (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest broad bean and horse bean importing markets in Latin America and the Caribbean were Mexico ($X), Ecuador ($X) and Jamaica ($X), together comprising X% of total imports. Chile, the Dominican Republic, Panama and Colombia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Chile, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the import price, however, saw a slight decrease. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform