Market Profile - Ecuador

Market Snapshot

Coarse Grain S&D

• Total corn demand: 1.3 mmt, of which 37% (480,000 mt) must be imported. Argentina is the primary supplier, followed by the U.S..
• Insignificant amounts of sorghum produced. 26,000 mt of Argentine sorghum imported.
• Feed sector utilizes 1.25 mmt of corn; FSI (feed, seed, industrial) corn consumption 0.25 mmt.
• Domestic corn production growing over the past 4 years.
• Malt imports totaled 23,757 mt; 1% U.S. origin. Canada is the predominate supplier.
• Barley imports totaled 22,250 mt; with main supplier being Argentina.

Market Overview

• Population: 14.7 million
• Population growth rate: 1.5%
• GDP Growth: 6.8%
• GDP per capita: $ 7,800
• Utilize the Andean Price Ban system to determine import duties, currently 5% for corn and sorghum.
• Economy dependent on petroleum exports.

Market Growth Potential

• Feed demand growing 6% annually, driven primarily by the poultry sector which has grown 8% annually since 2002.
• Poultry sector is dominant importer and user of corn (74%) followed by the swine sector (9%), aquaculture (13%) and dairy (4%).