Chile: Salt Market 2024

Salt Market Size in Chile

The Chilean salt market declined notably to $X in 2022, with a decrease of -47.3% against the previous year. In general, consumption recorded a pronounced downturn. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Salt Production in Chile

In value terms, salt production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 35%. Salt production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Salt Exports

Exports from Chile

In 2022, overseas shipments of salt and pure sodium chloride increased by 16% to X tons, rising for the second consecutive year after two years of decline. In general, total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.4% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by 52% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, salt exports surged to $X in 2022. Over the period under review, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 49% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for salt exports from Chile, with a 72% share of total exports. Moreover, salt exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), fourfold. The third position in this ranking was held by Uruguay (X tons), with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+5.6% per year) and Uruguay (+1.6% per year).

In value terms, the United States ($X) remains the key foreign market for salt and pure sodium chloride exports from Chile, comprising 59% of total exports. The second position in the ranking was taken by Brazil ($X), with a 29% share of total exports. It was followed by Uruguay, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+11.8% per year) and Uruguay (+5.6% per year).

Export Prices by Country

The average salt export price stood at $X per ton in 2022, increasing by 8.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2016 when the average export price increased by 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average 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 Brazil ($X per ton), while the average price for exports to the United States ($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 Brazil (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Chile

Salt imports into Chile rose notably to X tons in 2022, increasing by 10% on 2021 figures. In general, imports saw a strong expansion. The growth pace was the most rapid in 2018 with an increase of 112% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, salt imports surged to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 77%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Peru (X tons), Brazil (X tons) and Germany (X tons) were the main suppliers of salt imports to Chile, together comprising 61% of total imports. Denmark, New Zealand, Austria, Pakistan and the United States lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +148.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest salt suppliers to Chile were Brazil ($X), Peru ($X) and Germany ($X), together comprising 51% of total imports. New Zealand, Pakistan, Denmark, Austria and the United States lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, Austria, with a CAGR of +147.2%, saw the highest rates of growth with regard to 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

The average salt import price stood at $X per ton in 2022, picking up by 24% against the previous year. Over the period under review, the import price, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2021 an increase of 35%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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