Almonds market in Latin America and the Caribbean

Earlier Report Observations

The almond market volume in Latin America and the Caribbean experienced strong growth from 59 559 tons in 2018 to a peak of 77 431 tons in 2020. This expansion was supported by rising domestic production, which increased from 41 519 tons to 46 003 tons, and a significant surge in imports from 26 181 tons to 33 744 tons over the same period.

After 2020, the market size entered a phase of gradual contraction, declining to 76 002 tons in 2021, 72 194 tons in 2022, and 68 714 tons in 2023. This downturn coincided with a sustained reduction in import volumes, which fell to 24 533 tons by 2023, while production levels remained high but stable.

In 2024, market dynamics were influenced by growing consumer health awareness and demand for gluten-free products, which bolstered the niche for almond flour. Key developments included a partnership formed by Blue Diamond Growers with Divert, Inc. to expand market reach and USDA grant programs directed at enhancing food processing infrastructure in Mexico and Central America, aiming to improve supply chain efficiency.

Production almonds in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of almonds, 2017-2020

World map of production of almonds, 2017-2020

Almond production in Latin America and the Caribbean has grown for the third year in a row. In 2020, the region produced 46 003 tonnes of almonds, marking a steady year-over-year increase of 6.2%. Looking at the period from 2017 to 2020, production rose by 23.2%, which translates to an average annual growth rate of 7.2%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, t

Exports almonds from Latin America and the Caribbean

Exports in kind, t

Almond exports from Latin America and the Caribbean have fallen for the second consecutive year. In 2020, exports totaled 2 316 tonnes, a sharp decline of 56.3% compared to the previous year. From 2017 to 2020, exports dropped by 62%, averaging an annual decrease of 27.6%. The peak was in 2018, with 8 141 tonnes exported, and that year also saw the largest increase at 33.6%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

Between 2017 and 2020, the export destinations for almonds from Latin America and the Caribbean were highly diversified. Russia accounted for 22.7% of exports, Italy for 5.0%, and Germany for 1.8%, together making up just 29.5% of total flows. The remaining 70.5% was spread across numerous smaller partner countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

After two years of growth, the value of almond exports from Latin America and the Caribbean declined. In 2020, export value reached 44.5 million US dollars, down 40.7% from the previous year. However, over the 2017–2020 period, exports increased by 4.5%, with an average annual rate of 1.5%. The highest value was recorded in 2019 at 74.9 million US dollars, and the largest increase occurred in 2018 at 38.3%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, Russia, Italy, and Germany were the top buyers of almonds from Latin America and the Caribbean in value terms, with shares of 22.7%, 5.0%, and 2.2%, respectively. Together, they contributed 29.9% of total export value, highlighting a diversified country structure where many other markets played smaller roles.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports almonds to Latin America and the Caribbean

Imports in kind, t

Almond imports into Latin America and the Caribbean have risen for the second year in a row. In 2020, imports reached 33 744 tonnes, showing a strong year-over-year increase of 21.6%. Between 2017 and 2020, imports grew by 25.1%, averaging an annual rate of 7.8%. The lowest volume was in 2018 at 26 181 tonnes, which also saw the largest decline of 2.9%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

Over the 2017–2020 period, the United States was the dominant source for almond imports into Latin America and the Caribbean, making up 80.4% of total flows. The rest was distributed among a variety of smaller markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

The value of almond imports into Latin America and the Caribbean has increased for the third consecutive year. In 2020, imports totaled 212.4 million US dollars, up 9.0% from the previous year. From 2017 to 2020, imports rose by 20.5%, with an average annual growth rate of 6.4%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

Between 2017 and 2020, the United States remained the primary source for almond imports into Latin America and the Caribbean, accounting for 80.7% of total import value. Other destinations contributed much less significantly to the overall imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020