Argentina: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Argentina

The Argentinian market for condensed or evaporated milk (unsweetened) contracted to $X in 2021, which is down by -2.6% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production of Condensed Or Evaporated Milk (Unsweetened) in Argentina

In value terms, unsweetened condensed and evaporated milk production declined slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +19.2% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 89%. Unsweetened condensed and evaporated milk production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Argentina

In 2021, the amount of condensed or evaporated milk (unsweetened) exported from Argentina contracted remarkably to X tons, waning by -32.9% against the year before. Over the period under review, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 649% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then declined rapidly in the following year.

In value terms, unsweetened condensed and evaporated milk exports declined to $X in 2021. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2013 when exports increased by 1,192%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Guyana (X tons) was the main destination for unsweetened condensed and evaporated milk exports from Argentina, with a 60% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to Guyana exceeded the volume sent to the second major destination, Chile (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Guyana totaled +58.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+34.1% per year) and Maldives (0.0% per year).

In value terms, Maldives ($X) emerged as the key foreign market for condensed or evaporated milk (unsweetened) exports from Argentina, comprising 54% of total exports. The second position in the ranking was taken by Chile ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+30.8% per year) and Guyana (+59.1% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, rising by 40% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 73% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Guyana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+10.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Argentina

After six years of growth, overseas purchases of condensed or evaporated milk (unsweetened) decreased by -37.5% to X tons in 2021. Over the period under review, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 when imports increased by 292% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then contracted remarkably in the following year.

In value terms, unsweetened condensed and evaporated milk imports plummeted to $X in 2021. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 210%. Over the period under review, imports reached the peak figure at $X in 2020, and then contracted sharply in the following year.

Imports by Country

In 2021, Peru (X tons) constituted the largest unsweetened condensed and evaporated milk supplier to Argentina, accounting for a 89% share of total imports. Moreover, unsweetened condensed and evaporated milk imports from Peru exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Peru stood at +43.0%.

In value terms, Peru ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Argentina, comprising 91% of total imports. The second position in the ranking was taken by Germany ($X), with a 4.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Peru stood at +35.4%.

Import Prices by Country

In 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 18%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Peru totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-5.3%).

Source: IndexBox Platform

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