Latin America and the Caribbean: Rye Market 2024

Rye Market Size in Latin America and the Caribbean

The Latin American rye market was estimated at $X in 2022, picking up by 1.8% against the previous year. In general, consumption, however, recorded a resilient expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Rye Production in Latin America and the Caribbean

In value terms, rye production surged to $X in 2022 estimated in export price. Overall, production, however, recorded a measured increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 197%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Argentina (X tons) constituted the country with the largest volume of rye production, comprising approx. 88% of total volume. Moreover, rye production in Argentina exceeded the figures recorded by the second-largest producer, Brazil (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in Argentina amounted to +11.1%. In the other countries, the average annual rates were as follows: Brazil (+2.5% per year) and Chile (-1.7% per year).

In 2022, the average rye yield in Latin America and the Caribbean amounted to X tons per ha, picking up by 1.6% on the previous year. Over the period under review, the yield, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 12% against the previous year. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of rye were harvested in Latin America and the Caribbean; shrinking by -9.9% on the year before. In general, the harvested area, however, recorded buoyant growth. The pace of growth was the most pronounced in 2015 when the harvested area increased by 55% against the previous year. Over the period under review, the harvested area dedicated to rye production reached the peak figure at X ha in 2021, and then reduced in the following year.

Rye Exports

Exports in Latin America and the Caribbean

After two years of decline, shipments abroad of rye increased by 15% to X tons in 2022. Overall, exports, however, saw a deep setback. The growth pace was the most rapid in 2016 with an increase of 113%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, rye exports surged to $X in 2022. Over the period under review, exports, however, showed a deep contraction. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina was the main exporting country with an export of around X tons, which finished at 81% of total exports. It was distantly followed by Brazil (X tons), generating a 19% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to rye exports from Argentina stood at -8.6%. At the same time, Brazil (+53.0%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +53.0% from 2012-2022. From 2012 to 2022, the share of Brazil increased by +18 percentage points.

In value terms, Argentina ($X) remains the largest rye supplier in Latin America and the Caribbean, comprising 36% of total exports. The second position in the ranking was held by Brazil ($X), with an 8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Argentina stood at -10.7%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 202% against the previous year. In general, the export price recorded a mild expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Brazil totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-2.3%).

Rye Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of rye increased by 24% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 366% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, rye imports surged to $X in 2022. Over the period under review, imports, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2018 when imports increased by 229% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Chile was the main importer of rye in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was near 60% of total imports in 2022. It was distantly followed by Colombia (X tons), Uruguay (X tons) and Brazil (X tons), together achieving a 38% share of total imports. Argentina (X tons) followed a long way behind the leaders.

Chile was also the fastest-growing in terms of the rye imports, with a CAGR of -1.1% from 2012 to 2022. Uruguay (-1.4%), Argentina (-4.4%), Colombia (-5.1%) and Brazil (-13.4%) illustrated a downward trend over the same period. While the share of Chile (+25 p.p.), Uruguay (+5.2 p.p.), Colombia (+2.2 p.p.) and Argentina (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-9.3 p.p.) displayed negative dynamics.

In value terms, Chile ($X) constitutes the largest market for imported rye in Latin America and the Caribbean, comprising 63% of total imports. The second position in the ranking was held by Colombia ($X), with a 13% share of total imports. It was followed by Brazil, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Chile totaled +4.9%. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (-4.9% per year) and Brazil (-11.7% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 13% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rye import price increased by +102.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 75%. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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