Peas market in Latin America and the Caribbean

Earlier Report Observations

Between 2018 and 2020, the Latin American market for fresh peas in physical terms fluctuated, declining to 256.5 thousand tons in 2019 before recovering to 280.0 thousand tons in 2020. In value terms, the market grew consistently, reaching $701 million in 2020, a 15.9% increase from the previous year.

From 2021 to 2023, the market volume in tons gradually contracted to 263.7 thousand tons, while its monetary value continued to rise, peaking at $678.9 million in 2023. This pattern indicates a market shift towards higher-value products or sustained price growth over these years.

In 2024, regional trade dynamics highlighted Mexican states like Baja California and Guanajuato as key production hubs for international fresh pea sales. Major trade flows involved exports to the United States, Canada, and the United Kingdom, while imports from the U.S. and Guatemala supplied the regional market. Consumer trends favoring health-conscious, convenient foods and innovations in eco-friendly packaging further supported demand for peas as a plant-based protein source.

Production peas in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of peas, 2017-2020

World map of production of peas, 2017-2020

In Latin America and the Caribbean, pea production reached 331.6 thousand tonnes in 2020, showing a gradual year-over-year increase of 8.4%. Over the period from 2017 to 2020, production grew by 10.1%, with a compound annual growth rate of 3.2%. The largest decline occurred in 2019, when production fell by 4.0%.

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

In value, 2017-2020, M $ US

Pea production in Latin America and the Caribbean increased for the third consecutive year. In 2020, the output was valued at 830.4 million US dollars, which is 14.9% higher than in 2019. Between 2017 and 2020, production rose by 28.6%, equating to an annualized growth rate of 8.7%.

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

Exports peas from Latin America and the Caribbean

Exports in kind, t

In 2020, the volume of pea exports from Latin America and the Caribbean totalled 51 971 tonnes, marking a 3.8% increase compared to 2019. Between 2017 and 2020, exports grew by 12.9%, with an annualized rate of 4.1%. The largest decline was recorded in 2019, at 2.2%, while the largest increase occurred in 2018, at 11.2%.

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

From 2017 to 2020, the United States and the United Kingdom formed a dominant pair of markets for pea exports in kind, jointly accounting for 84.9% of total flows, with other countries making up the remaining share.

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

Pea exports from Latin America and the Caribbean increased for the third consecutive year. In 2020, exports reached 130.1 million US dollars, representing a 10.1% rise compared to the previous year. Between 2017 and 2020, exports grew by 31.9%, with an annualized growth rate of 9.7%.

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

Throughout 2017 to 2020, the United States and the United Kingdom remained the primary buyers of peas from Latin America and the Caribbean, with a combined share of 80.4% of total exports in value terms, while other countries accounted for the remainder.

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 peas to Latin America and the Caribbean

Imports in kind, t

The market exhibited an unstable trend over this period. Imports bottomed in 2018 at 269 tonnes and peaked in 2017, with a 2.2-fold difference between these years. In 2020, pea imports into Latin America and the Caribbean totalled 400 tonnes, indicating a sharp decline of 26.2% compared to 2019. The largest decline was recorded in 2018, at 54.9%, while the largest increase occurred in 2019, at 101.2%.

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

From 2017 to 2020, the United States, Canada, and China formed the key group of partners for pea imports in kind to Latin America and the Caribbean. The United States accounted for 44.8% of imports, Canada for 14.2%, and China for 9.1%, jointly representing 68.2% 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, cross-border shipments of peas into Latin America and the Caribbean amounted to 0.7 million US dollars, marking a 4.4% decrease compared to 2019. Between 2017 and 2020, imports fell by 16%, with an annualized decline rate of 5.7%. The minimum value was recorded in 2018 at 0.5 million US dollars. The largest decline occurred in 2018, at 39.3%, while the largest increase was in 2019, at 44.6%.

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

From 2017 to 2020, the United States, Canada, and China remained the principal suppliers of peas to Latin America and the Caribbean in value terms. The United States accounted for 48.9% of imports, Canada for 5.6%, and China for 3.1%, jointly representing 57.6% of total imports in value.

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