Spinach market in South America

Earlier Report Observations

The spinach market in Argentina began the period with robust growth, reaching over 80 000 metric tons in 2019. This expansion was underpinned by agricultural research, including trials by INTA and the Exphortar group that evaluated twenty spinach varieties for yield in frozen, canned, dehydrated, and fresh markets, encouraging more extensive cultivation. Favorable agroecological conditions and proximity to key consumer markets in several provinces further supported production and commercialization.

Following the 2019 peak, market volume contracted to around 58 000 metric tons in 2020 and edged slightly lower in 2021. A recovery to over 60 000 metric tons occurred in 2022, aided by continued variety evaluations aimed at improving yield and quality for the frozen and fresh segments. Simultaneously, rising demand from the food industry, particularly for fourth-range products like cleaned and packaged chopped spinach, spurred adjustments in production and supply.

In 2023, the market softened to approximately 58 000 metric tons. During this phase, evolving consumer preferences towards fresh, organic, and value-added products became more pronounced, with spinach appearing in gourmet items such as fresh pasta, contributing to market diversification. Regional trade dynamics and price fluctuations in neighboring Brazil also influenced the Argentine market due to geographic proximity.

Production spinach in South America

In kind, 2017-2020, t

Top producers of spinach, 2017-2020

World map of production of spinach, 2017-2020

South America's spinach production grew for two consecutive years before declining. In 2019, production reached its peak at 80 842 tons. However, in 2020, output fell sharply to 58 635 tons, representing a 27.5% decrease from the previous year. Over the entire 2017-2020 period, production increased by 23%, which translates to an average annual growth rate of 7.1%. The most significant year-over-year increase occurred in 2018, when production jumped by 43.7%.

Annual dynamics of production in South America in kind, 2017-2020, t

In value, 2017-2020, M $ US

Spinach production in South America saw two years of growth before experiencing a downturn. The value of spinach output peaked in 2019 at 138.4 million US dollars. In 2020, production value dropped substantially to 85.8 million US dollars, marking a 38.0% decline compared to the previous year. From 2017 to 2020, the overall value increased by 12.6%, corresponding to a compound annual growth rate of 4.0%. The largest year-over-year increase was recorded in 2018, when production value surged by 54.4%.

Annual dynamics of production in South America in value, 2017-2020, M $ US

Exports spinach from South America

Exports in kind, kg

South America's spinach exports have grown for three consecutive years. In 2020, export volumes reached 51 812 kilograms, showing a modest 2.6% increase from the previous year. Over the 2017-2020 period, exports expanded dramatically by 296.8%, which represents an average annual growth rate of 58.3%.

Annual dynamics of product's exports from South America in kind, 2017-2020, kg

Between 2017 and 2020, Panama, Canada, and Hong Kong were the largest buyers of spinach from South America in volume terms. Panama accounted for 25.2% of exports, Canada for 15.0%, and Hong Kong for 10.7%. Together, these three markets represented 50.9% of South America's total spinach exports by volume.

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

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

Exports in value, $ US

Spinach export values from South America showed noticeable fluctuations during this period. The lowest point occurred in 2017, while exports peaked in 2019 at 86 434 US dollars, representing a 4.1-fold increase from the trough. In 2020, export values declined to 75 834 US dollars, down 12.3% from the previous year. The most significant year-over-year increase happened in 2019, when export values jumped by 181.7%.

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

From 2017 to 2020, South America's spinach exports in value terms were distributed across multiple trading partners. Panama was the largest destination, accounting for 28.2% of export value, followed by Hong Kong at 11.1% and the Marshall Islands at 10.6%. Together, these three countries represented 49.9% of total export value, indicating a relatively dispersed market structure.

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

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

Imports spinach to South America

Imports in kind, kg

South America's spinach import volumes showed considerable volatility during this period. Imports reached their lowest point in 2019 at 4 014 kilograms before surging to 29 281 kilograms in 2020, representing a 629.5% increase year-over-year and a 7.3-fold difference between the peak and trough. The most significant decline occurred in 2018, when import volumes fell by 67.0%.

Annual dynamics of product's imports to South America in kind, 2017-2020, kg

Between 2017 and 2020, the United States dominated South America's spinach imports by volume, accounting for 94.0% of total imports.

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

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

Imports in value, $ US

South America's spinach import values increased for the second consecutive year. In 2020, imports reached approximately 22 025 US dollars, up 53.9% from the previous year. Over the 2017-2020 period, import values grew by 103.5%, corresponding to a compound annual growth rate of 26.7%. The lowest value was recorded in 2018 at 9 855 US dollars, which also saw the largest year-over-year decline of 8.9%.

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

From 2017 to 2020, South America's spinach imports in value terms were highly concentrated, with the United States accounting for 90.2% of total import value.

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

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