Latin America and the Caribbean: Uncooked Pasta Market 2024

Uncooked Pasta Market Size in Latin America and the Caribbean

In 2021, the Latin American uncooked pasta market decreased by -2.5% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Uncooked Pasta Production in Latin America and the Caribbean

In value terms, uncooked pasta production contracted to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 8.6%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Uncooked Pasta Exports

Exports in Latin America and the Caribbean

In 2021, after two years of growth, there was significant decline in overseas shipments of uncooked pasta, when their volume decreased by -36.2% to X tons. Overall, exports showed a noticeable descent. The growth pace was the most rapid in 2020 when exports increased by 29%. As a result, the exports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, uncooked pasta exports fell sharply to $X in 2021. Over the period under review, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 28%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Peru (X tons), distantly followed by Mexico (X tons), Guatemala (X tons), Argentina (X tons), Costa Rica (X tons), Brazil (X tons) and the Dominican Republic (X tons) represented the major exporters of uncooked pasta, together constituting 92% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of +3.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest uncooked pasta supplying countries in Latin America and the Caribbean were Peru ($X), Costa Rica ($X) and Mexico ($X), with a combined 52% share of total exports.

In terms of the main exporting countries, Costa Rica, with a CAGR of +3.6%, 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 in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, the export price showed a slight descent. The pace of growth was the most pronounced in 2013 an increase of 6.2% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Uncooked Pasta Imports

Imports in Latin America and the Caribbean

After two years of growth, purchases abroad of uncooked pasta decreased by -12.4% to X tons in 2021. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 81%. The volume of import peaked at X tons in 2020, and then contracted in the following year.

In value terms, uncooked pasta imports declined to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +4.2% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 63% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020, and then contracted in the following year.

Imports by Country

Venezuela was the key importing country with an import of around X tons, which recorded 45% of total imports. Chile (X tons) ranks second in terms of the total imports with a 10% share, followed by Brazil (5.3%). The following importers - Colombia (X tons), Haiti (X tons), El Salvador (X tons), Bolivia (X tons), Honduras (X tons), Panama (X tons), Guatemala (X tons), Mexico (X tons), the Dominican Republic (X tons) and Peru (X tons) - together made up 28% of total imports.

Imports into Venezuela increased at an average annual rate of +26.3% from 2012 to 2021. At the same time, Panama (+146.0%), Bolivia (+19.7%), the Dominican Republic (+14.1%), Peru (+13.7%), Colombia (+10.4%), El Salvador (+7.1%) and Chile (+6.9%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +146.0% from 2012-2021. Brazil, Mexico and Guatemala experienced a relatively flat trend pattern. By contrast, Honduras (-2.6%) and Haiti (-3.8%) illustrated a downward trend over the same period. While the share of Venezuela (+33 p.p.) and Panama (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-2.6 p.p.), Chile (-2.8 p.p.), Guatemala (-3.3 p.p.), Honduras (-5.2 p.p.), Brazil (-6.6 p.p.) and Haiti (-8.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Venezuela ($X) constitutes the largest market for imported uncooked pasta in Latin America and the Caribbean, comprising 31% of total imports. The second position in the ranking was held by Chile ($X), with a 10% share of total imports. It was followed by Brazil, with an 8.2% share.

In Venezuela, uncooked pasta imports increased at an average annual rate of +13.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+4.4% per year) and Brazil (+0.3% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 8.1% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable shrinkage. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mexico ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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