Latin America and the Caribbean: Market for Straw Or Fodder Balers, Including Pickup Balers 2024

Market Size for Straw Or Fodder Balers, Including Pickup Balers in Latin America and the Caribbean

The Latin American straw for fodder balers market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, continues to indicate a slight descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Straw Or Fodder Balers, Including Pickup Balers in Latin America and the Caribbean

In value terms, straw for fodder balers production expanded significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 37%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Straw Or Fodder Balers, Including Pickup Balers

Exports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded decline in shipments abroad of straw or fodder balers, including pickup balers, which decreased by -38.3% to X units in 2021. In general, exports showed a abrupt setback. The pace of growth was the most pronounced in 2018 when exports increased by 21%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, straw for fodder balers exports dropped rapidly to $X in 2021. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Brazil (X units) was the key exporter of straw or fodder balers, including pickup balers, making up 45% of total exports. Argentina (X units) held the second position in the ranking, followed by Colombia (X units). All these countries together took near 41% share of total exports. The following exporters - Costa Rica (X units), Mexico (X units) and Uruguay (X units) - each accounted for an 8.5% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to straw for fodder balers exports from Brazil stood at -10.9%. At the same time, Costa Rica (+8.0%) and Colombia (+1.7%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +8.0% from 2012-2021. By contrast, Uruguay (-16.4%), Argentina (-19.4%) and Mexico (-33.8%) illustrated a downward trend over the same period. While the share of Brazil (+20 p.p.), Colombia (+16 p.p.) and Costa Rica (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Argentina (-7.8 p.p.) and Mexico (-19.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) emerged as the largest straw for fodder balers supplier in Latin America and the Caribbean, comprising 53% of total exports. The second position in the ranking was taken by Argentina ($X), with a 22% share of total exports. It was followed by Colombia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Brazil totaled -11.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-22.7% per year) and Colombia (-3.1% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, rising by 3.3% against the previous year. Over the period under review, the export price, however, showed a pronounced decline. The pace of growth was the most pronounced in 2019 when the export price increased by 39% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+2.3%), while the other leaders experienced a decline in the export price figures.

Imports of Straw Or Fodder Balers, Including Pickup Balers

Imports in Latin America and the Caribbean

In 2021, straw for fodder balers imports in Latin America and the Caribbean skyrocketed to X units, jumping by 19% compared with the year before. In general, imports, however, saw a perceptible reduction. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, straw for fodder balers imports soared to $X in 2021. Overall, imports, however, saw a pronounced downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Mexico represented the main importing country with an import of about X units, which resulted at 36% of total imports. Chile (X units) took the second position in the ranking, followed by Argentina (X units), Brazil (X units), Uruguay (X units) and Paraguay (X units). All these countries together took near 51% share of total imports. Peru (X units) followed a long way behind the leaders.

Imports into Mexico decreased at an average annual rate of -5.0% from 2012 to 2021. At the same time, Peru (+20.9%), Paraguay (+7.4%) and Argentina (+5.5%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +20.9% from 2012-2021. Chile experienced a relatively flat trend pattern. By contrast, Uruguay (-4.7%) and Brazil (-8.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina, Paraguay, Chile and Peru increased by +7.3, +4.3, +4 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported straw or fodder balers, including pickup balers in Latin America and the Caribbean, comprising 39% of total imports. The second position in the ranking was taken by Chile ($X), with a 13% share of total imports. It was followed by Argentina, with a 13% share.

In Mexico, straw for fodder balers imports contracted by an average annual rate of -4.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Chile (-0.6% per year) and Argentina (+5.7% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 5% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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