Latin America and the Caribbean: Lentil Market 2024

Lentil Market Size in Latin America and the Caribbean

The Latin American lentil market was estimated at $X in 2023, increasing by X% against the previous year. The total consumption indicated a notable increase 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, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.

Lentil Production in Latin America and the Caribbean

In value terms, lentil production dropped to $X in 2023 estimated in export price. The total production indicated a perceptible increase 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Argentina (X tons) constituted the country with the largest volume of lentil production, accounting for X% of total volume. Moreover, lentil production in Argentina exceeded the figures recorded by the second-largest producer, Mexico (X tons), fourfold. The third position in this ranking was held by Ecuador (X tons), with a X% share.

In Argentina, lentil production expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Mexico (X% per year) and Ecuador (X% per year).

The average lentil yield contracted significantly to X tons per ha in 2023, with a decrease of X% against the previous year's figure. Overall, the yield, however, continues to indicate mild growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2019 to 2023, the growth of the lentil 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, the harvested area of lentils in Latin America and the Caribbean dropped to X ha, waning by X% against the previous year. The total harvested area indicated a noticeable increase from 2012 to 2023: its figure 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, lentil harvested area increased by X% against 2021 indices. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the harvested area dedicated to lentil production attained the peak figure at X ha in 2022, and then fell in the following year.

Lentil Exports

Exports in Latin America and the Caribbean

In 2023, the amount of lentils exported in Latin America and the Caribbean fell dramatically to X tons, with a decrease of X% against 2022 figures. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, lentil exports fell significantly to $X in 2023. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Argentina (X tons), Colombia (X tons) and Mexico (X tons), together reaching X% of total export. Chile (X tons), Trinidad and Tobago (X tons), Peru (X tons) and Brazil (X tons) took a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Chile (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest lentil supplying countries in Latin America and the Caribbean were Mexico ($X), Argentina ($X) and Colombia ($X), together comprising X% of total exports. Chile, Brazil, Trinidad and Tobago and Peru lagged somewhat behind, together accounting for a further X%.

Chile, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, rising by X% against the previous year. Export price indicated buoyant 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, lentil export price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Lentil Imports

Imports in Latin America and the Caribbean

After two years of decline, overseas purchases of lentils increased by X% to X tons in 2023. Total imports indicated a modest 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 decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, lentil imports expanded to $X in 2023. Total imports indicated a temperate increase 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Colombia (X tons), distantly followed by Peru (X tons), Mexico (X tons), Ecuador (X tons), Chile (X tons) and Brazil (X tons) were the major importers of lentils, together mixing up X% of total imports. Venezuela (X tons) held a minor 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 Ecuador (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Peru ($X) and Mexico ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. Ecuador, Chile, Brazil and Venezuela lagged somewhat behind, together accounting for a further X%.

Brazil, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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, shrinking by X% against the previous year. Import price indicated a slight expansion 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, lentil import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Brazil ($X per ton) and Chile ($X per ton), while Colombia ($X per ton) and Peru ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform