Chile: Cheese And Curd Market 2024

Cheese And Curd Market Size in Chile

In 2022, the Chilean cheese and curd market decreased by -10.1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Cheese and curd consumption peaked at $X in 2021, and then contracted in the following year.

Cheese And Curd Production in Chile

In value terms, cheese and curd production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Cheese and curd production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Cheese And Curd Exports

Exports from Chile

After two years of decline, overseas shipments of cheese and curd increased by 1.3% to X tons in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 84%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, cheese and curd exports rose sharply to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 119% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for cheese and curd exports from Chile, with a 51% share of total exports. Moreover, cheese and curd exports to Mexico exceeded the volume sent to the second major destination, South Korea (X tons), twofold. The third position in this ranking was held by Peru (X tons), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico totaled -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+10.6% per year) and Peru (+14.7% per year).

In value terms, Mexico ($X) remains the key foreign market for cheese and curd exports from Chile, comprising 51% of total exports. The second position in the ranking was taken by South Korea ($X), with a 25% share of total exports. It was followed by Russia, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to Mexico amounted to -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+10.9% per year) and Russia (+41.4% per year).

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, surging by 8.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 19%. The export price peaked 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 export markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per ton) and Venezuela ($X per ton), while the average price for exports to South Korea ($X per ton) and China ($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 Russia (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Chile

After two years of growth, supplies from abroad of cheese and curd decreased by -23.9% to X tons in 2022. In general, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 33% against the previous year. Imports peaked at X tons in 2021, and then fell notably in the following year.

In value terms, cheese and curd imports reduced to $X in 2022. Overall, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2017 when imports increased by 51% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Argentina (X tons), the United States (X tons) and the Netherlands (X tons) were the main suppliers of cheese and curd imports to Chile, with a combined 64% share of total imports. Mexico, Germany, New Zealand, Uruguay, Brazil and France lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +85.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), the United States ($X) and Mexico ($X) were the largest cheese and curd suppliers to Chile, with a combined 64% share of total imports.

Mexico, with a CAGR of +102.7%, 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

The average cheese and curd import price stood at $X per ton in 2022, with an increase of 21% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 France ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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