Market Profile - Ecuador
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.
- 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%).