Argentina: Whey Market 2024

Whey Market Size in Argentina

In 2022, the Argentinian whey market decreased by -13.7% to $X, falling for the second year in a row after three years of growth. In general, consumption, however, enjoyed a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Whey Production in Argentina

In value terms, whey production stood at $X in 2022 estimated in export price. In general, production, however, showed a noticeable slump. The pace of growth was the most pronounced in 2019 with an increase of 18% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Whey Exports

Exports from Argentina

In 2022, shipments abroad of whey was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, exports, however, continue to indicate a noticeable reduction. The pace of growth was the most pronounced in 2013 when exports increased by 20% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, whey exports soared to $X in 2022. In general, exports, however, saw a pronounced shrinkage. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons), China (X tons) and Chile (X tons) were the main destinations of whey exports from Argentina, together accounting for 80% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +9.4%), while the other leaders experienced mixed trend patterns.

In value terms, Brazil ($X), China ($X) and Chile ($X) were the largest markets for whey exported from Argentina worldwide, together accounting for 85% of total exports.

In terms of the main countries of destination, Chile, with a CAGR of +16.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average whey export price stood at $X per ton in 2022, surging by 26% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 29% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to the Philippines ($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 Chile (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Whey Imports

Imports into Argentina

In 2022, imports of whey into Argentina reached X tons, approximately equating 2021. Overall, imports, however, saw a sharp decline. The pace of growth appeared the most rapid in 2019 when imports increased by 106% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, whey imports surged to $X in 2022. Over the period under review, imports, however, saw a noticeable descent. The pace of growth appeared the most rapid in 2019 with an increase of 289% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest whey supplier to Argentina, accounting for a 50% share of total imports. Moreover, whey imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold. France (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands stood at -25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+131.8% per year) and France (+4.9% per year).

In value terms, Denmark ($X) constituted the largest supplier of whey to Argentina, comprising 57% of total imports. The second position in the ranking was held by the Netherlands ($X), with an 18% share of total imports. It was followed by France, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from Denmark amounted to +191.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-14.9% per year) and France (+4.8% per year).

Import Prices by Country

In 2022, the average whey import price amounted to $X per ton, rising by 29% against the previous year. Overall, the import price posted significant growth. The growth pace was the most rapid in 2013 an increase of 99%. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+25.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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