Chile: Sorghum Market 2024

Sorghum Market Size in Chile

The Chilean sorghum market declined rapidly to $X in 2022, which is down by -79.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a precipitous decrease. Sorghum consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sorghum Exports

Exports from Chile

In 2022, approx. X tons of sorghum were exported from Chile; dropping by -11.5% compared with the previous year. In general, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 67,033% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, sorghum exports expanded modestly to $X in 2022. Overall, exports, however, saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 58,311%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), the United States (X tons) and Germany (X kg) were the main destinations of sorghum exports from Chile, together comprising 99% 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 France (with a CAGR of +66.1%), while the other leaders experienced a decline.

In value terms, the United States ($X), France ($X) and Japan ($X) appeared to be the largest markets for sorghum exported from Chile worldwide, with a combined 99% share of total exports.

In terms of the main countries of destination, France, with a CAGR of +37.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average sorghum export price stood at $X per ton in 2022, rising by 15% against the previous year. Overall, the export price, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2016 an increase of 28%. 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to France ($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 Japan (+77.7%), while the prices for the other major destinations experienced a decline.

Sorghum Imports

Imports into Chile

Sorghum imports into Chile declined rapidly to X tons in 2022, which is down by -84% compared with 2021. Over the period under review, imports saw a precipitous descent. The pace of growth was the most pronounced in 2017 when imports increased by 109% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sorghum imports declined markedly to $X in 2022. In general, imports saw a dramatic downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 100% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of sorghum to Chile, accounting for a 58% share of total imports. Moreover, sorghum imports from Argentina exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), twofold. The third position in this ranking was taken by Paraguay (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina stood at -42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (-18.1% per year) and Paraguay (0.0% per year).

In value terms, Argentina ($X) constituted the largest supplier of sorghum to Chile, comprising 56% of total imports. The second position in the ranking was taken by Bolivia ($X), with a 25% share of total imports. It was followed by Paraguay, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Argentina stood at -41.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (-16.9% per year) and Paraguay (0.0% per year).

Import Prices by Country

In 2022, the average sorghum import price amounted to $X per ton, growing by 35% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sorghum import price increased by +79.1% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Paraguay ($X per ton), while the price for Argentina ($X per ton) and Bolivia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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