Buckwheat market in Latin America and the Caribbean

Earlier Report Observations

From 2018 to 2020, the buckwheat market in Latin America and the Caribbean was shaped by rising consumer preference for healthy and gluten-free foods. The growing adoption of healthier lifestyles and urbanization fueled demand, leading to a market size increase to 62 557 tons in 2019. However, in 2020, the initial impact of the COVID-19 pandemic on supply chains and consumption caused a temporary contraction to 61 373 tons.

The market recovered in 2021, reaching 62 621 tons, as key players increased their adoption of efficient production and marketing schemes, and product innovation expanded with items like pregelatinized buckwheat flours. In 2022, further consolidation of the local production chain and optimized irrigation and fertilization practices supported yields, resulting in a stable market size of 62 758 tons. By 2023, the market size adjusted to 60 937 tons, while demand for gluten-free and functional foods continued to drive interest in buckwheat, supported by favorable agroecological conditions in some regions.

Production buckwheat in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of buckwheat, 2017-2020

World map of production of buckwheat, 2017-2020

Latin America and the Caribbean have seen buckwheat production rise for the third year in a row. In 2020, the region produced 64 029 tonnes of buckwheat, marking a 0.6% increase compared to the previous year. Looking at the period from 2017 to 2020, production grew by 2.2%, which translates to an average annual growth rate of 0.7%.

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

In value, 2017-2020, K $ US

In 2020, the value of buckwheat output in Latin America and the Caribbean was 29 373 thousand US dollars, remaining largely unchanged from the year before. Over the 2017-2020 period, production value increased by 7.7%, with a compound annual growth rate of 2.5%. The most significant drop occurred in 2019, at 0.0%, while the largest rise was in 2018, with a 7.4% increase.

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

Exports buckwheat from Latin America and the Caribbean

Exports in kind, t

The market exhibited volatility throughout the observed period. The lowest point was in 2019, with exports at 1 103 tonnes, and the highest in 2020, at 2 831 tonnes, resulting in a 2.6-fold difference between these years. In 2020, Latin America and the Caribbean exported 2 831 tonnes of buckwheat, which represents a substantial 156.7% increase from 2019. The largest decline was recorded in 2019, at 38.9%.

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

From 2017 to 2020, nearly all buckwheat exports from Latin America and the Caribbean in volume terms were directed to Japan, which accounted for 98.9% of total flows.

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, K $ US

Market performance showed noticeable fluctuations during this period. The lowest value was in 2019, at 507 thousand US dollars, and the peak was in 2020, at 1 299 thousand US dollars, indicating a 2.6-fold amplitude. In 2020, buckwheat exports from Latin America and the Caribbean amounted to 1 299 thousand US dollars, up by 155.9% compared to 2019. The largest decline occurred in 2019, at 39.4%.

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

During 2017-2020, Japan dominated buckwheat exports from Latin America and the Caribbean in value terms, holding a 98.0% share of total flows.

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 buckwheat to Latin America and the Caribbean

Imports in kind, t

The data indicates irregular changes, pointing to a volatile market environment. The lowest volume was in 2018, at 14 tonnes, and the highest in 2020, at 175 tonnes, showing a 12.2-fold difference. In 2020, buckwheat imports into Latin America and the Caribbean reached 175 tonnes, a sharp increase of 679.0% from the previous year. The largest decline was recorded in 2018, at 36.4%.

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

From 2017 to 2020, the United States (with 50.4% of imports in volume), China (21.4%), and the Netherlands (8.3%) formed the core of buckwheat imports into Latin America and the Caribbean, together accounting for 80.1% 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, K $ US

Volatility characterized the market during these years. The lowest level was in 2018, at 22 thousand US dollars, and the peak in 2020, at 148 thousand US dollars, with a top-to-bottom ratio of 6.6 times. In 2020, buckwheat imports into Latin America and the Caribbean amounted to 148 thousand US dollars, reflecting a steep 424.8% year-on-year improvement. The largest decline was in 2018, at 44.1%.

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

Over the 2017-2020 period, the United States (40.8% of imports in value), China (26.7%), and the Netherlands (16.4%) together absorbed 84.0% of total buckwheat imports into Latin America and the Caribbean, making them the primary sources.

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