Maize flour and cereals market in Ecuador

Earlier Report Observations

From 2018 to 2020, the maize flour and cereals market in Ecuador expanded from 603.3 thousand tons to 646.1 thousand tons. This growth was underpinned by consistent government policies, including the establishment of minimum support prices for yellow corn, which guaranteed producer profitability. The adoption of hybrid seeds and advanced agricultural technologies boosted productivity and reduced losses. Investment from both domestic and foreign players, such as Cargill, stimulated agribusiness in regions like Santa Elena. In 2020, the 'Campo Seguro' project insured the crops of thousands of corn producers, mitigating climate risks, while support measures during the COVID-19 pandemic helped maintain production stability.

Market volume dropped sharply to 258.4 thousand tons in 2021, likely impacted by persistent supply chain disruptions from the pandemic. The following years saw a partial recovery, though volumes remained below pre-2021 levels. In 2022, Alimentos Polar-Ecuador began direct commercial operations, strengthening the Harina P.A.N. brand and introducing new formats like 500-gram packages to reach consumers with lower purchasing power, which stimulated demand. By 2023, Industria Harinera invested USD 8 million to expand its main plant in Manta, increasing milling capacity for maize flour, although production that year faced a raw material deficit that contributed to lower output. Shifting consumer preferences toward more versatile and economical products, alongside increased scrutiny of competitive practices by the Superintendencia de Competencia Económica, further shaped market dynamics.

Production maize flour and cereals in Ecuador

In kind, 2017-2020, K t

Top producers of maize flour and cereals, 2017-2020

World map of production of maize flour and cereals, 2017-2020

Ecuador's production of maize flour and cereals has grown for the third year in a row. In 2020, the country produced 632.0 thousand tons, marking a 1.0% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 8.5%, which translates to an average annual growth rate of 2.8%.

Annual dynamics of production in Ecuador in kind, 2017-2020, K t

Exports maize flour and cereals from Ecuador

Exports in kind, t

Export volumes of maize flour and cereals from Ecuador showed significant fluctuations during this period. The lowest point was in 2018, with 47 tons, while the peak occurred in 2020 at 125 tons, representing a 2.6-fold difference. In 2020, exports increased by 17.7% compared to the previous year. The largest decline was recorded in 2018, at 28.1%, while the biggest jump happened in 2019, with a 124.4% surge.

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

From 2017 to 2020, the United States and Colombia were the dominant markets for Ecuador's exports in kind, together accounting for 90.6% of total flows. The remaining share was distributed among other destinations.

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

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

Exports in value, K $ US

The value of Ecuador's maize flour and cereals exports has risen for the third consecutive year. In 2020, exports reached 242 thousand US dollars, a sharp increase of 28.4% from the year before. Over the 2017-2020 period, export value grew by 170.1%, with a compound annual growth rate of 39.3%.

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

Between 2017 and 2020, the United States, Colombia, and France were the key partners in export value terms. The United States led with 68.9% of exports, followed by Colombia at 9.6% and France at 9.3%. Together, these three markets made up 87.9% of total flows.

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

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

Imports maize flour and cereals to Ecuador

Imports in kind, t

Ecuador's imports of maize flour and cereals have increased for the third year in a row. In 2020, imports stood at 14 231 tons, a sharp rise of 43.9% compared to the previous year. From 2017 to 2020, import volumes surged by 519.2%, equating to an average annual growth rate of 83.6%.

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

From 2017 to 2020, Colombia was the leading source for Ecuador's imports in kind, holding an 84.1% share of total flows. The remainder was distributed among other markets.

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

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

Imports in value, K $ US

The value of maize flour and cereals imports into Ecuador has grown for the third consecutive year. In 2020, imports reached 10 906 thousand US dollars, an uptick of 56.5% year-on-year. Over the 2017-2020 period, import value increased by 441.5%, with a compound annual growth rate of 75.6%.

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

During 2017-2020, Colombia consistently accounted for 84.1% of Ecuador's total import value, highlighting a high concentration on this market. The rest was shared among other countries.

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

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