Latin America and the Caribbean: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Latin America and the Caribbean

The Latin American wheat and meslin flour market reached $X in 2022, approximately equating the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Wheat and Meslin Flour in Latin America and the Caribbean

In value terms, wheat and meslin flour production expanded modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 11%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Wheat and Meslin Flour

Exports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded decline in shipments abroad of wheat and meslin flour, which decreased by -15.6% to X tons in 2022. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wheat and meslin flour exports soared to $X in 2022. Over the period under review, exports recorded a perceptible setback. The most prominent rate of growth was recorded in 2014 with an increase of 37% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Argentina (X tons) represented the major exporter of wheat and meslin flour, achieving 62% of total exports. The Dominican Republic (X tons) held the second position in the ranking, followed by Mexico (X tons). All these countries together took near 18% share of total exports. El Salvador (X tons), Brazil (X tons), Paraguay (X tons), Honduras (X tons) and Costa Rica (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wheat and meslin flour exports from Argentina stood at -7.0%. At the same time, Brazil (+38.5%) and Paraguay (+3.3%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +38.5% from 2012-2022. By contrast, Mexico (-1.1%), the Dominican Republic (-2.2%), El Salvador (-3.9%), Honduras (-5.3%) and Costa Rica (-5.5%) illustrated a downward trend over the same period. While the share of the Dominican Republic (+3.3 p.p.), Brazil (+2.8 p.p.), Mexico (+2 p.p.) and Paraguay (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Argentina (-12.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest wheat and meslin flour supplier in Latin America and the Caribbean, comprising 54% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 16% share of total exports. It was followed by Mexico, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Argentina amounted to -5.3%. In the other countries, the average annual rates were as follows: the Dominican Republic (+0.8% per year) and Mexico (+1.1% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 41% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour export price increased by +47.5% against 2020 indices. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+3.1%), while the other leaders experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports in Latin America and the Caribbean

Wheat and meslin flour imports contracted to X tons in 2022, which is down by -8.7% compared with the previous year. In general, imports showed a mild decrease. The pace of growth was the most pronounced in 2014 with an increase of 28% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wheat and meslin flour imports rose significantly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 21%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Venezuela (X tons) and Bolivia (X tons) represented roughly 60% of total imports in 2022. Mexico (X tons) ranks next in terms of the total imports with a 9.7% share, followed by Haiti (7.2%). Guatemala (X tons), Cuba (X tons), Chile (X tons) and Honduras (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of +60.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Venezuela ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 56% of total imports.

Among the main importing countries, Venezuela, with a CAGR of +53.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 an increase of 24% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, 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 ($X per ton), while Bolivia ($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 (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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