Chile: Powdered Milk Market 2024

Powdered Milk Market Size in Chile

The Chilean powdered milk market contracted rapidly to $X in 2022, shrinking by -17.2% against the previous year. In general, consumption showed a perceptible decline. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Powdered Milk Production in Chile

In value terms, powdered milk production stood at $X in 2022 estimated in export price. In general, production recorded a noticeable descent. The growth pace was the most rapid in 2017 with an increase of 39%. Powdered milk production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Powdered Milk Exports

Exports from Chile

In 2022, overseas shipments of powdered milk increased by 398% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, continue to indicate a noticeable downturn. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, powdered milk exports surged to $X in 2022. Over the period under review, exports, however, showed a perceptible descent. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for powdered milk exports from Chile, with a 81% share of total exports. Moreover, powdered milk exports to Colombia exceeded the volume sent to the second major destination, China (X tons), more than tenfold. The third position in this ranking was held by Cuba (X tons), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to Colombia totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.0% per year) and Cuba (+57.5% per year).

In value terms, Colombia ($X) remains the key foreign market for powdered milk exports from Chile, comprising 82% of total exports. The second position in the ranking was taken by Cuba ($X), with a 6.5% share of total exports. It was followed by China, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia totaled +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+61.4% per year) and China (-1.8% per year).

Export Prices by Country

The average powdered milk export price stood at $X per ton in 2022, with an increase of 17% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 37%. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Bolivia ($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 Bolivia (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Chile

In 2022, the amount of powdered milk imported into Chile dropped notably to X tons, declining by -37.7% against 2021 figures. Over the period under review, imports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 72% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, powdered milk imports dropped notably to $X in 2022. In general, imports showed a noticeable setback. The growth pace was the most rapid in 2017 with an increase of 63% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), Argentina (X tons) and Uruguay (X tons) were the main suppliers of powdered milk imports to Chile, with a combined 93% share of total imports. France lagged somewhat behind, comprising a further 3.4%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +97.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Argentina ($X) and Uruguay ($X) constituted the largest powdered milk suppliers to Chile, together comprising 90% of total imports. France lagged somewhat behind, accounting for a further 4.2%.

France, with a CAGR of +81.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average powdered milk import price amounted to $X per ton, growing by 31% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk import price increased by +76.2% against 2016 indices. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were France ($X per ton) and Uruguay ($X per ton), while the price for the United States ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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