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Ecuador's sugar production in marketing year (MY) 2023/24 is forecast to remain at 530,000 MT, the same as the previous year's estimate, despite a significant increase in planted area of sugar cane.
FAS Astana estimates wheat production at 16.4 million metric tons (MMT) in marketing year (MY) 2022/2023, which is the largest production volume since MY 2017/2018. FAS Astana forecasts no significant change to wheat and barley planted area for MY 2023/2024.
The food processing industry is an important component of Ecuador’s manufacturing sector. This sector contributes 45 percent to Ecuador’s manufacturing gross domestic product and grossed $12 billion in net sales.