Argentina: Peat Market 2022

Peat Market Size in Argentina

In 2021, the Argentinian peat market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Over the period under review, consumption saw a abrupt decline. Peat consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Peat Production in Argentina

In value terms, peat production soared to $X in 2021 estimated in export price. Overall, production recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 when the production volume increased by 154% against the previous year. Peat production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Peat Exports

Exports from Argentina

Peat exports from Argentina was estimated at X tons in 2021, picking up by 15% on 2020. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2020 when exports increased by 113% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, peat exports rose modestly to $X in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -4.3% against 2019 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 86% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for peat exports from Argentina, with a 95% share of total exports. It was followed by Uruguay (X tons), with a 1.9% share of total exports. Brazil (X tons) ranked third in terms of total exports with a 1.4% share.

From 2012 to 2021, the average annual growth rate of volume to Canada amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-11.4% per year) and Brazil (-18.1% per year).

In value terms, Brazil ($X) remains the key foreign market for peat exports from Argentina, comprising 64% of total exports. The second position in the ranking was taken by Uruguay ($X), with an 18% share of total exports. It was followed by Canada, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to Brazil totaled +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+1.7% per year) and Canada (+8.0% per year).

Export Prices by Country

The average peat export price stood at $X per ton in 2021, reducing by -8.9% against the previous year. Over the period under review, the export price saw a abrupt contraction. The pace of growth was the most pronounced in 2015 an increase of 37% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per ton), while the average price for exports to Canada ($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 El Salvador (+40.1%), while the prices for the other major destinations experienced more modest paces of growth.

Peat Imports

Imports into Argentina

In 2021, imports of peat into Argentina contracted modestly to X tons, stabilizing at 2020. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 102%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, peat imports skyrocketed to $X in 2021. Overall, imports, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2016 when imports increased by 105%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Estonia (X tons), Lithuania (X tons) and the Netherlands (X tons) were the main suppliers of peat imports to Argentina, with a combined 92% share of total imports. These countries were followed by Germany, Canada and Latvia, which together accounted for a further 8.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Latvia (with a CAGR of +116.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest peat suppliers to Argentina were Estonia ($X), Lithuania ($X) and Germany ($X), together accounting for 94% of total imports. Canada, the Netherlands and Latvia lagged somewhat behind, together comprising a further 6.4%.

Latvia, with a CAGR of +61.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average peat import price amounted to $X per ton, surging by 59% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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