Chile: Natural Cork Market 2024

Natural Cork Market Size in Chile

The Chilean natural cork market contracted dramatically to less than $X in 2021, declining by 99.9% against the previous year. Over the period under review, consumption enjoyed a significant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Natural Cork Production in Chile

In value terms, natural cork production stood at $X in 2021 estimated in export price. Over the period under review, production recorded a significant increase. The most prominent rate of growth was recorded in 2020 with a decrease of 99.9% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Natural Cork Exports

Exports from Chile

In 2020, after two years of growth, there was significant decline in overseas shipments of natural cork debacked or roughly squared, when their volume decreased by -98.4% to X kg. Over the period under review, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of 7,335% against the previous year. As a result, the exports reached the peak of X tons, and then reduced rapidly in the following year.

In value terms, natural cork exports reduced rapidly to $X in 2020. In general, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 7,453%. As a result, the exports reached the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Ecuador (X kg) was the main destination for natural cork exports from Chile, with a 55% share of total exports. Moreover, natural cork exports to Ecuador exceeded the volume sent to the second major destination, Uruguay (X kg), twofold. The third position in this ranking was taken by Bolivia (X kg), with a 13% share.

From 2016 to 2020, the average annual growth rate of volume to Ecuador totaled -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (0.0% per year) and Bolivia (-31.9% per year).

In value terms, Ecuador ($X) emerged as the key foreign market for natural cork debacked or roughly squared exports from Chile, comprising 56% of total exports. The second position in the ranking was held by Uruguay ($X), with a 22% share of total exports. It was followed by Bolivia, with a 13% share.

From 2016 to 2020, the average annual rate of growth in terms of value to Ecuador amounted to -9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (0.0% per year) and Bolivia (-69.3% per year).

Export Prices by Country

The average natural cork export price stood at $X per ton in 2020, with a decrease of -59.7% against the previous year. Over the period under review, the export price, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2018 an increase of 273%. The export price peaked at $X per ton in 2019, and then dropped sharply in the following year.

Average prices varied noticeably for the major foreign markets. In 2020, amid the top suppliers, the countries with the highest prices were Ecuador ($X per ton) and Uruguay ($X per ton), while the average price for exports to Peru ($X per ton) and Bolivia ($X per ton) were amongst the lowest.

From 2016 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+11.9%).

Natural Cork Imports

Imports into Chile

In 2021, natural cork imports into Chile shrank notably to X tons, with a decrease of -57.9% compared with the previous year's figure. In general, imports saw a pronounced decrease. The pace of growth was the most pronounced in 2014 when imports increased by 21,675%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, natural cork imports shrank remarkably to $X in 2021. Overall, imports continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 34,400% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

China (X kg), Spain (X kg) and the United States (X kg) were the main suppliers of natural cork imports to Chile, with a combined 90% share of total imports. Portugal, Argentina and France lagged somewhat behind, together comprising a further 9.4%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +31.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Spain ($X) and the United States ($X) constituted the largest natural cork suppliers to Chile, with a combined 67% share of total imports. Portugal, France and Argentina lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Argentina, with a CAGR of +60.4%, saw the highest growth rate of the value of imports, 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 natural cork import price amounted to $X per ton, jumping by 46% against the previous year. Over the period under review, the import price, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 47%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :