Latin America and the Caribbean: Spinach Market 2024

Spinach Market Size in Latin America and the Caribbean

The Latin American spinach market reached $X in 2023, almost unchanged from 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 in certain years. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Spinach Production in Latin America and the Caribbean

In value terms, spinach production declined modestly 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 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

The countries with the highest volumes of production in 2023 were Mexico (X tons), Peru (X tons) and Jamaica (X tons), together accounting for X% of total production.

From 2012 to 2023, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Mexico (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average spinach yield shrank dramatically to X tons per ha in 2023, with a decrease of X% on the previous year's figure. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the yield reached the peak level of X tons per ha, and then declined 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.

The spinach harvested area soared to X ha in 2023, increasing by X% against 2022 figures. The total harvested area indicated moderate growth 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, spinach harvested area decreased by X% against 2021 indices. Over the period under review, the harvested area dedicated to spinach production reached the peak figure at X ha in 2021; however, from 2022 to 2023, the harvested area stood at a somewhat lower figure.

Spinach Exports

Exports in Latin America and the Caribbean

In 2023, shipments abroad of spinach decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, spinach exports fell modestly to $X in 2023. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2022, and then contracted modestly in the following year.

Exports by Country

Mexico dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. Guatemala (X tons) took 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 ($X) remains the largest spinach supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Guatemala ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms 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, with an increase of X% against the previous year. In general, the export price posted a buoyant increase. The pace of growth appeared 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.

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 Mexico ($X per ton), while Guatemala stood at $X per ton.

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

Spinach Imports

Imports in Latin America and the Caribbean

After two years of growth, overseas purchases of spinach decreased by X% to X tons in 2023. Overall, imports, however, saw a significant increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then declined in the following year.

In value terms, spinach imports reduced to $X in 2023. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then reduced in the following year.

Imports by Country

Mexico dominates imports structure, reaching 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 recorded 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. Mexico (X p.p.) significantly strengthened its position in terms of the total imports, while Trinidad and Tobago and El Salvador saw its share reduced by X% and X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual growth rate of value in Mexico stood at 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, with a decrease of X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, 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