Ecuador pesticides market: imports during 2022 reached 275.6 Mio USD and 53.5 Mio USD in Q1 2023

According to Infinium statistics, in Q1 2023, the total value of pesticide products imported by Ecuador was 53.5 Mio USD, a -23% variation YOY due to 2022 S2 high inventories, and -32.7% compared to last Quarter; the total volume is 7.3 Mio Kilo/liters, a -16% YOY and -16.6% compared to last quarter.

For the whole year of 2022, Ecuador imported 275.6 million USD pesticide, keeping almost the same with the year 2021, 284.1 million USD, with a sustained YOY Growth CAGR 2019 – 2022 (4.3%).

Agriculture of Ecuador

 Located in northwestern South America, Ecuador area destined for agricultural production in 2022 was 2.3 Mio hectares, divided into exporting crops (Roses, bananas, vegetables, cocoa, coffee, etc.), Industrial crops (sugar cane, Palm oil) and local consumption (rice, corn, potatoes,vegetables, other fruits, etc). The contribution of the agricultural sector corresponds to 8% of the Gross domestic production (GDP).

Ecuador is mostly known for its flowers, banana, cocoa and coffee, the most representative of which is the Ecuadorian rose. According to the Central bank, the country exported 950.5 Mio USD FOB of flowers in 2022.

In addition, Ecuador is one of the main producers of tropical fruits such as bananas, pineapples and other non-traditional fruits.Banana exports from Ecuador, the world's leading exporter of this fruit,reached 354.6 million boxes in 2022, with a planted area of 167.544 has and productionof 6.08 Mio of MT. 

Pesticide Market

Ecuador's industrial base is weak, and most of the inputs used in agriculture need to be imported.

In early time, MNC holds most portion of the market. Now, in recent years, this trend has changed.By 2022, MNC companies market percentage was 45.5% and Generic companies was 54.5%.

In a deeper analysis, inrecent years, generic product producers from China and India become more and more active in this market. Top 8 companies is completed by UPL #6, Rainbow #7 and Sharda #8 in Ecuador ranking. Both India based companies (UPL and Sharda) showing aggressive MS% increase in last years.

According to Infinium statistics, in the year 2022, the top imported Fungicides A.I. is Mancozeb #1, Fenpropimorph #2, Fenpropidin #3 Difenoconazole #4 and Pyrimethanil #5. Herbicides A.I. is Glyphosate #1,Paraquat #2, Glufosinate– ammonium #3, Atrazine #4 and 2,4 D #5. Insecticides A.I. is Spinetoram #1, Thiamethoxam #2, Methomyl #3, Spinosad #4 and Terbufos #5.

Segmenting the Ecuadorian market by crop, we can see that the market with the highest demand for pesticides is bananas (32%),followed by Corn (12%), Flowers (11%), Rice (24%) Potatoes (9%).

   With monthy dinamics related to crop cycle and influenced in past year by raw material costs. We expect for the 2023 a slight increase from Q2 onwards, once the local inventory is reduced and main companies will need to get their regular inventory levels.   

Ecuador 2022 monthly imports dynamic,in Mio USD

Do business with Ecuador

On the 11th April, the International Monetary Fund released the latest "World Economic Outlook Report", predicting that the Ecuadorian economy will grow by 2.9% in 2023, which is 0.1% lower than the previous forecast, but much higher than the average growth rate of 1% in South America. It is third only to Venezuela (5%) and Paraguay (4.5%) among countries in the region.

Currently, China is Ecuador's second largest trading partner, and Ecuador is China's tenth largest trading partner in LatinAmerica. China mainly exports telephones, metal products, home appliances,cars, industrial machinery and components, etc., and mainly imports crude oil,prawns, bananas, minerals, and timber.

ECHEMI, with its partner in Ecuador, Infinium company, provides kinds of monthly, yearly updates reports of Ecuador pesticidemarket, as well as consultant services to help agrochemical players enter into the fruit country.

What we can offer:

1. Trade data to track every detail of the trade order.
2. Detect Ecuadormarket partners.
3. Registration access in Ecuador.
4. Marketing campaigns in Ecuador.

Contact us for free Ecuador trade-data sample by:Terry +86 13738043007 terry.zhou@echemi.com