Argentina: Honey Market 2024

Honey Market Size in Argentina

The Argentinian honey market fell rapidly to $X in 2022, reducing by -98.6% against the previous year. Over the period under review, consumption continues to indicate a deep contraction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Honey Production in Argentina

In value terms, honey production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2017 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Honey Exports

Exports from Argentina

In 2022, exports of honey from Argentina skyrocketed to X tons, jumping by 19% compared with 2021 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 78% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, honey exports skyrocketed to $X in 2022. In general, total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for honey exports from Argentina, with a 60% share of total exports. Moreover, honey exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-2.1% per year) and Spain (+20.0% per year).

In value terms, the United States ($X) remains the key foreign market for honey exports from Argentina, comprising 63% of total exports. The second position in the ranking was taken by Germany ($X), with a 17% share of total exports. It was followed by Japan, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-0.8% per year) and Japan (+5.4% per year).

Export Prices by Country

The average honey export price stood at $X per ton in 2022, stabilizing at the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey export price increased by +51.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 41% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and the United States ($X per ton), while the average price for exports to Spain ($X per ton) and Switzerland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Argentina

In 2022, approx. X tons of honey were imported into Argentina; with an increase of 258% on the previous year's figure. Over the period under review, imports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2020 when imports increased by 771%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, honey imports soared to $X in 2022. In general, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 663% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) was the main supplier of honey to Argentina, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled +15.7%.

In value terms, Spain ($X) constituted the largest supplier of honey to Argentina.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +28.6%.

Import Prices by Country

The average honey import price stood at $X per ton in 2022, with an increase of 25% against the previous year. Over the period under review, the import price enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2021 when the average import price increased by 52% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +11.2% per year.

Source: IndexBox Platform

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