Latin America and the Caribbean: Wood Charcoal Market 2024

Wood Charcoal Market Size in Latin America and the Caribbean

In 2021, the Latin American wood charcoal market decreased by -1.4% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption recorded a slight decrease. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Wood Charcoal Production in Latin America and the Caribbean

In value terms, wood charcoal production surged to $X in 2021 estimated in export price. Overall, production saw a strong expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 123%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Wood Charcoal Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of wood charcoal was finally on the rise to reach X tons after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood charcoal exports soared to $X in 2021. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 43% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Paraguay (X tons), Cuba (X tons), Argentina (X tons) and Mexico (X tons) represented roughly 87% of total exports in 2021. It was distantly followed by Venezuela (X tons), making up a 5% share of total exports. The following exporters - Brazil (X tons) and Colombia (X tons) - each amounted to a 5.7% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Venezuela (with a CAGR of +71.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest wood charcoal supplying countries in Latin America and the Caribbean were Paraguay ($X), Cuba ($X) and Mexico ($X), with a combined 75% share of total exports. Argentina, Venezuela, Brazil and Colombia lagged somewhat behind, together accounting for a further 22%.

In terms of the main exporting countries, Venezuela, with a CAGR of +65.8%, recorded the highest growth rate of 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

The export price in Latin America and the Caribbean stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2013 when the export price increased by 12%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+6.1%), while the other leaders experienced more modest paces of growth.

Wood Charcoal Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of wood charcoal were imported in Latin America and the Caribbean; rising by 71% on 2020 figures. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, wood charcoal imports skyrocketed to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Chile represented the largest importer of wood charcoal in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was approx. 69% of total imports in 2021. It was distantly followed by Brazil (X tons), making up a 21% share of total imports. Uruguay (X tons) and Costa Rica (X tons) followed a long way behind the leaders.

Imports into Chile increased at an average annual rate of +8.3% from 2012 to 2021. At the same time, Costa Rica (+50.2%) and Uruguay (+8.0%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +50.2% from 2012-2021. By contrast, Brazil (-11.5%) illustrated a downward trend over the same period. While the share of Chile (+36 p.p.), Uruguay (+1.6 p.p.) and Costa Rica (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Brazil (-41 p.p.) displayed negative dynamics.

In value terms, Chile ($X), Brazil ($X) and Uruguay ($X) constituted the countries with the highest levels of imports in 2021, together comprising 85% of total imports. These countries were followed by Costa Rica, which accounted for a further 2.1%.

Among the main importing countries, Costa Rica, with a CAGR of +45.2%, 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, which is down by -3.2% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood charcoal import price decreased by -14.0% against 2017 indices. The pace of growth appeared the most rapid in 2015 an increase of 51% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+22.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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