Key Market Indicators
Ecuadorian spice consumption is projected to drop significantly, reaching approximately 1,100 metric tons by 2028. This is a steep decline from the 2,000 metric tons recorded in 2023, averaging a 9.4% decrease per year. The downward trend has been evident since 2019, with an annual decrease of 7.8%. In 2023, Ecuador ranked 88th in spice consumption globally. Lesotho surpassed Ecuador with 2,000 metric tons, while Bangladesh, Indonesia, and Thailand occupied the second, third, and fourth positions, respectively. Similarly, Ecuadorian spice production is expected to fall, reaching around 1,100 metric tons by 2028 from the current 2,000 metric tons in 2023. This represents an average annual decline of 9.6%. The country's spice supply has been decreasing by 7.8% annually since 2019. In 2023, Ecuador ranked 54th in spice production. Uganda overtook Ecuador with a production of 2,000 metric tons. China, Nigeria, and Indonesia held the second, third, and fourth spots in the global ranking, respectively.
