Asparagus market in Latin America and the Caribbean

Earlier Report Observations

The asparagus market volume in Latin America and the Caribbean experienced notable fluctuations between 2018 and 2023. After a decline to 425.6 thousand tons in 2019, the market expanded to 501.7 thousand tons in 2020, contracted sharply to 387.2 thousand tons in 2021, and then recovered steadily, reaching 510.9 thousand tons by 2023.

The market's growth to 510.9 thousand tons in 2023 coincided with lower export volumes from leading producers. Peru, remaining the region's primary exporter, reported a 6% increase in export value despite a drop in physical shipments, which made more asparagus available for the regional market. Mexico also reinforced its export role, with significant shipments destined for the United States, Canada, and Guatemala.

Infrastructure developments such as the advancement of the Chancay port project in Peru and the introduction of new organic asparagus lines by companies like Green Valley Foods highlighted the market's shift towards sustainable and healthy products, shaping the industry landscape into 2024.

Production asparagus in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of asparagus, 2017-2020

World map of production of asparagus, 2017-2020

In Latin America and the Caribbean, asparagus production reached 694.1 thousand tonnes in 2020, representing a 4.4% increase from 2019. Over the period from 2017 to 2020, production grew by 6.4%, which translates to an average annual growth rate of 2.1%. The largest decline occurred in 2019, when production fell by 0.4%.

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

In value, 2017-2020, M $ US

Asparagus production in Latin America and the Caribbean increased in value for the second consecutive year. In 2020, the output was valued at 2 728 million US dollars, marking a significant rise of 17.1% compared to the previous year. The lowest value was recorded in 2018 at 2 316 million US dollars, which also saw the largest decline of 13.9%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports asparagus from Latin America and the Caribbean

Exports in kind, K t

After two years of growth, asparagus exports from Latin America and the Caribbean declined. In 2020, the region exported 194.6 thousand tonnes, a sharp drop of 19.8% from the previous year. From 2017 to 2020, exports decreased by 7.3%, with a compound annual growth rate of -2.5%. The highest export volume was in 2019 at 242.5 thousand tonnes, which also experienced the largest increase of 8.2%.

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

Between 2017 and 2020, the United States remained the primary market for asparagus exports in volume terms, accounting for 83.0% of total flows. The remaining volume was distributed among various other destinations.

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

In 2020, foreign asparagus supplies from Latin America and the Caribbean totaled 764.8 million US dollars, down by 10.0% from the previous year. From 2017 to 2020, exports decreased by 11.7%, equating to an average annual decline of 4.1%. The largest drop occurred in 2018 at 10.2%, while the largest increase was in 2019 at 9.3%.

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

During 2017–2020, the United States continued to be the dominant destination for asparagus exports in value terms, holding an 82.3% share of total flows. The rest of the value was spread across other markets.

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 asparagus to Latin America and the Caribbean

Imports in kind, K t

Following two years of growth, asparagus imports into Latin America and the Caribbean declined. In 2020, the region imported 2.2 thousand tonnes, a decrease of 37.2% compared to 2019. Over the period from 2017 to 2020, imports fell by 19.4%, with an average annual decline of 6.9%. The peak import volume was in 2019 at 3.5 thousand tonnes, and the largest increase occurred in 2018 at 17.0%.

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

From 2017 to 2020, the United States consistently led as the top source for asparagus imports in volume terms to Latin America and the Caribbean, capturing 17.3% of total flows.

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

In 2020, asparagus shipments to Latin America and the Caribbean from abroad amounted to 10.2 million US dollars, a decline of 38.1% from 2019. Between 2017 and 2020, imports decreased by 33.8%, with a compound annual growth rate of -12.9%. The highest value was recorded in 2019 at 16.4 million US dollars, which also saw the largest increase of 14.7%.

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

During 2017–2020, the United States and China emerged as the main suppliers of asparagus to Latin America and the Caribbean, together accounting for 11.5% of total imports in value terms.

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