Argentina: Manuka Market 2024

Manuka Market Size in Argentina

The Argentinian manuka market fell sharply to $X in 2022, shrinking by -98.6% against the previous year. Over the period under review, consumption showed a abrupt decrease. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Manuka Production in Argentina

In value terms, manuka production contracted slightly to $X in 2022 estimated in export price. In general, production, however, showed a pronounced curtailment. The pace of growth appeared the most rapid in 2017 when the production volume increased by 40%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Manuka Exports

Exports from Argentina

In 2022, manuka exports from Argentina soared to X tons, rising by 19% compared with the year before. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded 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 somewhat lower figure.

In value terms, manuka exports soared to $X in 2022. In general, total exports indicated mild 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 pace of growth appeared the most rapid in 2021 when exports increased by 24%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for manuka exports from Argentina, accounting for a 60% share of total exports. Moreover, manuka exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), threefold. Spain (X tons) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2022, the average annual growth rate 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 ($X) remains the key foreign market for manuka exports from Argentina, comprising 63% of total exports. The second position in the ranking was held by Germany ($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 rate of growth in terms 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

In 2022, the average manuka export price amounted to $X per ton, stabilizing at the previous year. Over the period under review, export price indicated modest growth 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, manuka export price increased by +51.6% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 41%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were 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.

Manuka Imports

Imports into Argentina

In 2022, manuka imports into Argentina surged to X tons, growing by 258% compared with the year before. In general, imports, however, faced a abrupt contraction. The growth pace was the most rapid in 2020 when imports increased by 771% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, manuka imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 663%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

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

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

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

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

Import Prices by Country

In 2022, the average manuka import price amounted to $X per ton, growing by 25% against the previous year. Overall, the import price posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 52%. The import price peaked in 2022 and is likely to continue 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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