Latin America and the Caribbean: Spinach Market 2024

Spinach Market Size in Latin America and the Caribbean

The Latin American spinach market totaled $X in 2023, remaining stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Spinach Production in Latin America and the Caribbean

In value terms, spinach production declined slightly to $X in 2023 estimated in export price. The total production indicated perceptible growth 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 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 countries with the highest volumes of production in 2023 were Mexico (X tons), Peru (X tons) and Jamaica (X tons), together comprising X% of total production.

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

In 2023, the average yield of spinach in Latin America and the Caribbean declined sharply to X tons per ha, reducing by X% against the previous year. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the yield reached the peak level of X tons per ha, and then shrank notably 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, the total area harvested in terms of spinach production in Latin America and the Caribbean skyrocketed to X ha, rising by X% against 2022 figures. The total harvested area indicated noticeable growth from 2012 to 2023: its figure 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, spinach harvested area decreased by X% against 2021 indices. Over the period under review, the harvested area dedicated to spinach production attained the peak figure at X ha in 2021; however, from 2022 to 2023, the harvested area failed to regain momentum.

Spinach Exports

Exports in Latin America and the Caribbean

In 2023, overseas shipments of spinach decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, spinach exports dropped to $X in 2023. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then declined modestly in the following year.

Exports by Country

Mexico prevails in exports structure, amounting to X tons, which was near X% of total exports in 2023. Guatemala (X tons) held a relatively small share of total exports.

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

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

From 2012 to 2023, the average annual growth rate of value in Mexico stood at X%.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Overall, the export price saw a prominent increase. The growth pace was the most rapid in 2013 when the export price increased by X%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Guatemala totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%).

Spinach Imports

Imports in Latin America and the Caribbean

In 2023, purchases abroad of spinach decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2022, and then contracted modestly in the following year.

In value terms, spinach imports declined to $X in 2023. Overall, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2019 when imports increased by X%. The level of import peaked at $X in 2022, and then shrank in the following year.

Imports by Country

Mexico prevails in imports structure, finishing at X tons, which was near X% of total imports in 2023. The following importers - El Salvador (X tons) and Trinidad and Tobago (X tons) - each accounted for a X% share of total imports.

Mexico was also the fastest-growing in terms of the spinach imports, with a CAGR of X% from 2012 to 2023. At the same time, Trinidad and Tobago (X%) and El Salvador (X%) displayed positive paces of growth. While the share of Mexico (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Trinidad and Tobago (X p.p.) and El Salvador (X p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported spinach in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Trinidad and Tobago ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in Mexico amounted to X%. In the other countries, the average annual rates were as follows: Trinidad and Tobago (X% per year) and El Salvador (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by El Salvador (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform