Latin America and the Caribbean: Herbicide Market 2024

Herbicide Market Size in Latin America and the Caribbean

For the third consecutive year, the Latin American herbicide market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption posted a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Herbicide Production in Latin America and the Caribbean

In value terms, herbicide production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, showed a mild decrease. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Herbicide Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of herbicides increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, herbicide exports skyrocketed to $X in 2022. Total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Argentina (X tons), distantly followed by Guatemala (X tons), Colombia (X tons), Paraguay (X tons), Brazil (X tons) and Costa Rica (X tons) were the main exporters of herbicides, together generating X% of total exports. Mexico (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Paraguay (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest herbicide supplying countries in Latin America and the Caribbean were Argentina ($X), Paraguay ($X) and Brazil ($X), with a combined X% share of total exports.

Paraguay, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by X% against the previous year. Export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, herbicide export price increased by X% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the other leaders experienced more modest paces of growth.

Herbicide Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of herbicides increased by X% to X tons, rising for the seventh year in a row after two years of decline. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, herbicide imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil dominates imports structure, reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Argentina (X tons), Bolivia (X tons) and Colombia (X tons), together mixing up a X% share of total imports. The following importers - Uruguay (X tons), Paraguay (X tons), Chile (X tons), Mexico (X tons), Peru (X tons), Ecuador (X tons) and Honduras (X tons) - together made up X% of total imports.

Brazil was also the fastest-growing in terms of the herbicides imports, with a CAGR of X% from 2012 to 2022. At the same time, Colombia (X%), Bolivia (X%), Chile (X%), Paraguay (X%), Peru (X%), Honduras (X%), Ecuador (X%), Argentina (X%) and Mexico (X%) displayed positive paces of growth. Uruguay experienced a relatively flat trend pattern. From 2012 to 2022, the share of Brazil increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported herbicides in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Argentina ($X), with a X% share of total imports. It was followed by Uruguay, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Uruguay (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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