Beans market in Caribbean

Earlier Report Observations

The volume of the fresh or chilled beans market in the Caribbean region expanded significantly over the 2018-2023 period, rising from 12 140 t to 16 359 t. Growth was particularly strong in 2020 and 2021, supported by increased import flows and stable domestic output.

A temporary downturn occurred in 2022 when market volume fell to 14 343 t, largely because imports dropped by half from the previous year. The market recovered swiftly in 2023, reaching a new peak as local production climbed to 16 420 t and imports partially rebounded.

Production beans in Caribbean

In kind, 2017-2020, t

Top producers of beans, 2017-2020

World map of production of beans, 2017-2020

Caribbean's bean production declined after two years of growth. In 2020, the region produced 14 941 tonnes of beans, which represents a 2.1% decrease compared to the previous year. Over the period from 2017 to 2020, production increased by 32.6%, with a compound annual growth rate of 9.9%. The highest production level was recorded in 2019 at 15 260 tonnes, while the largest annual increase occurred in 2018 at 32.8%.

Annual dynamics of production in Caribbean in kind, 2017-2020, t

Exports beans from Caribbean

Exports in kind, t

After two years of growth, Caribbean's bean exports declined. In 2020, exports amounted to 2 278 tonnes, marking a sharp year-over-year decrease of 40.7%. Between 2017 and 2020, exports decreased by 27.7%, which translates to an annualized decline rate of 10.3%. The peak export volume was recorded in 2019 at 3 840 tonnes, while the largest annual increase occurred in 2018 at 16.8%.

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

From 2017 to 2020, the United States, Canada, and the Netherlands were the primary destinations for Caribbean's bean exports in volume terms. The United States accounted for 45.3% of exports, Canada for 29.6%, and the Netherlands for 7.7%. Together, these three countries represented 82.6% of total export flows.

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

World map of product's exports from Caribbean in kind, 2017-2020

Exports in value, K $ US

After two years of growth, Caribbean's bean exports in value terms declined. In 2020, exports were recorded at 2 103 thousand US dollars, down 18.2% year-over-year. Over the period from 2017 to 2020, exports increased by 11.9%, with a compound annual growth rate of 3.8%. The highest export value was recorded in 2019 at 2 571 thousand US dollars, while the largest annual increase occurred in 2018 at 19.1%.

Annual dynamics of product's exports from Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the United States, Canada, and the Netherlands were the key partners for Caribbean's bean exports in value terms. The United States accounted for 52.9% of export value, Canada for 18.0%, and the Netherlands for 12.0%. Collectively, these three partners represented 82.9% of total export flows.

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

World map of product's exports from Caribbean in value, 2017-2020

Imports beans to Caribbean

Imports in kind, t

Caribbean's bean imports increased for the third consecutive year. In 2020, the region imported 2 185 tonnes of beans, up 36.3% from the previous year. Between 2017 and 2020, imports surged by 199.7%, equating to an annualized growth rate of 44.2%.

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

From 2017 to 2020, the United States dominated Caribbean's bean imports in volume terms, accounting for 77.6% of total flows. Other countries had relatively minor shares in the import structure.

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

World map of product's imports to Caribbean in kind, 2017-2020

Imports in value, K $ US

Caribbean's bean imports in value terms increased for the third consecutive year. In 2020, imports reached 2 999 thousand US dollars, representing a 23.5% rise compared to the previous year. Between 2017 and 2020, imports grew by 107.8%, with an annualized growth rate of 27.6%.

Annual dynamics of product's imports to Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the United States was the main supplier of beans to Caribbean in value terms, accounting for 82.0% of total imports. Other partners held relatively modest shares in the import structure.

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

World map of product's imports to Caribbean in value, 2017-2020