Cassava Market Overview in Latin America and the Caribbean

In 2019, the Latin American cassava market increased by % to $, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 when the market value increased by % against the previous year. Over the period under review, the market hit record highs at $ in 2014; however, from 2015 to 2019, consumption failed to regain the momentum.

In value terms, cassava production expanded notably to $ in 2019 estimated in export prices. The total production indicated a temperate increase from 2007 to 2019: its value decreased at an average annual rate of -% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2016 indices. The growth pace was the most rapid in 2008 with an increase of % against the previous year. Over the period under review, production reached the maximum level at $ in 2014; however, from 2015 to 2019, production failed to regain the momentum.

Brazil ( tonnes) remains the largest cassava producing country in Latin America and the Caribbean, accounting for % of total volume. Moreover, cassava production in Brazil exceeded the figures recorded by the second-largest producer, Paraguay ( tonnes), fivefold. Colombia ( tonnes) ranked third in terms of total production with a % share.

In Brazil, cassava production shrank by an average annual rate of -% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Paraguay (+% per year) and Colombia (+% per year).

The average cassava yield contracted modestly to tonnes per ha in 2019, standing approx. at the previous year's figure. Overall, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of % against the previous year. Over the period under review, the cassava yield hit record highs at tonnes per ha in 2014; however, from 2015 to 2019, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2019, approx. ha of cassava were harvested in Latin America and the Caribbean; standing approx. at the previous year. Overall, the harvested area recorded a mild downturn. The growth pace was the most rapid in 2010 when the harvested area increased by % against the previous year. The level of harvested area peaked at ha in 2007; however, from 2008 to 2019, the harvested area remained at a lower figure.

In 2019, consumption of cassava decreased by -% to tonnes, falling for the fourth consecutive year after three years of growth. Overall, consumption saw a slight slump. The most prominent rate of growth was recorded in 2014 when the consumption volume increased by % year-to-year. The volume of consumption peaked at tonnes in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.

The value of the cassava market in Latin America and the Caribbean expanded significantly to $ in 2019, rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2010 with an increase of % y-o-y. The level of consumption peaked at $ in 2014; however, from 2015 to 2019, consumption failed to regain the momentum.

Brazil ( tonnes) constituted the country with the largest volume of cassava consumption, accounting for % of total volume. Moreover, cassava consumption in Brazil exceeded the figures recorded by the second-largest consumer, Paraguay ( tonnes), fivefold. Colombia ( tonnes) ranked third in terms of total consumption with a % share.

From 2007 to 2019, the average annual rate of growth in terms of volume in Brazil amounted to -%. The remaining consuming countries recorded the following average annual rates of consumption growth: Paraguay (+% per year) and Colombia (+% per year).

In value terms, Brazil ($) led the market, alone. The second position in the ranking was occupied by Paraguay ($). It was followed by Colombia.

In Brazil, the cassava market expanded at an average annual rate of +% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Paraguay (+% per year) and Colombia (+% per year).

In 2019, the highest levels of cassava per capita consumption was registered in Paraguay ( kg per person), followed by Brazil ( kg per person), Cuba ( kg per person) and Colombia ( kg per person), while the world average per capita consumption of cassava was estimated at kg per person.

In Paraguay, cassava per capita consumption increased at an average annual rate of +% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Brazil (-% per year) and Cuba (+% per year).

Depressed by shrinking demand for cassava in Latin America and the Caribbean, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to tonnes by the end of .