Latin America and the Caribbean: Dairy Produce Market 2024

Dairy Produce Market Size in Latin America and the Caribbean

The Latin American dairy produce market amounted to $X in 2022, approximately equating the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Dairy Produce Production in Latin America and the Caribbean

In value terms, dairy produce production totaled $X in 2022 estimated in export price. In general, production, however, saw a perceptible setback. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Dairy Produce Exports

Exports in Latin America and the Caribbean

Dairy produce exports expanded markedly to X tons in 2022, increasing by X% against the previous year. In general, exports, however, showed a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy produce exports surged to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Argentina (X tons) and Uruguay (X tons) represented the main exporters of dairy produce in Latin America and the Caribbean, together resulting at near X% of total exports. Nicaragua (X tons) ranks next in terms of the total exports with an X% share, followed by Costa Rica (X%), Chile (X%) and Mexico (X%). Brazil (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Uruguay (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest dairy produce supplying countries in Latin America and the Caribbean were Argentina ($X), Uruguay ($X) and Nicaragua ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Nicaragua, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Costa Rica ($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 (X%), while the other leaders experienced more modest paces of growth.

Dairy Produce Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of dairy produce was finally on the rise to reach X tons after two years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, dairy produce imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the major importer of dairy produce in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Brazil (X tons) ranks second in terms of the total imports with a X% share, followed by the Dominican Republic (X%), Guatemala (X%), Chile (X%), El Salvador (X%), Peru (X%) and Venezuela (X%). Colombia (X tons), Cuba (X tons), Panama (X tons), Trinidad and Tobago (X tons) and Honduras (X tons) took a relatively small share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of dairy produce. At the same time, Panama (X%), Colombia (X%), the Dominican Republic (X%), Chile (X%), El Salvador (X%), Guatemala (X%), Honduras (X%), Cuba (X%) and Peru (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Trinidad and Tobago and Brazil experienced a relatively flat trend pattern. By contrast, Venezuela (X%) illustrated a downward trend over the same period. While the share of the Dominican Republic (X p.p.), Chile (X p.p.), Guatemala (X p.p.), Colombia (X p.p.), El Salvador (X p.p.) and Panama (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Venezuela (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported dairy produce in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with an X% share of total imports. It was followed by the Dominican Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Panama ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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