Argentina: Animal Feed Market 2024

Animal Feed Market Size in Argentina

The Argentinian animal feed market rose slightly to $X in 2022, surging by 3.8% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Animal Feed Production in Argentina

In value terms, animal feed production expanded slightly to $X in 2022 estimated in export price. In general, production, however, posted moderate growth. The growth pace was the most rapid in 2019 with an increase of 36%. Animal feed production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Animal Feed Exports

Exports from Argentina

In 2022, overseas shipments of animal and pet feed increased by 22% to X tons, rising for the second year in a row after five years of decline. Over the period under review, exports, however, recorded a significant decline. The pace of growth was the most pronounced in 2013 with an increase of 68% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, animal feed exports surged to $X in 2022. In general, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 59%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Chile (X tons) was the main destination for animal feed exports from Argentina, accounting for a 52% share of total exports. Moreover, animal feed exports to Chile exceeded the volume sent to the second major destination, Uruguay (X tons), threefold. The third position in this ranking was held by Bolivia (X tons), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to Chile totaled -21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-12.0% per year) and Bolivia (+13.6% per year).

In value terms, the largest markets for animal feed exported from Argentina were Chile ($X), Brazil ($X) and Uruguay ($X), together comprising 56% of total exports. Bolivia, Ecuador, Paraguay and Vietnam lagged somewhat behind, together accounting for a further 23%.

Ecuador, with a CAGR of +32.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average animal feed export price amounted to $X per ton, rising by 13% against the previous year. Over the period under review, the export price showed prominent growth. The most prominent rate of growth was recorded in 2019 an increase of 39% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Argentina

In 2022, overseas purchases of animal and pet feed decreased by -2.6% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 13%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, animal feed imports soared to $X in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of animal feed to Argentina, with a 51% share of total imports. Moreover, animal feed imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Chile (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.6% per year) and Chile (+201.9% per year).

In value terms, Brazil ($X) constituted the largest supplier of animal and pet feed to Argentina, comprising 42% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by the United States, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.8% per year) and the United States (-10.6% per year).

Import Prices by Country

The average animal feed import price stood at $X per ton in 2022, increasing by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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