MERCOSUR: Almond Market 2024

Almond Market Size in MERCOSUR

The MERCOSUR almond market reduced to $X in 2021, which is down by -10.5% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +33.2% against 2016 indices. As a result, consumption reached the peak level of $X, and then fell in the following year.

Almond Production in MERCOSUR

In value terms, almond production fell markedly to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +41.8% against 2016 indices. The growth pace was the most rapid in 2020 when the production volume increased by 49% against the previous year. As a result, production attained the peak level of $X, and then declined remarkably in the following year.

The country with the largest volume of almond production was Chile (X tons), accounting for 98% of total volume. It was followed by Argentina (X tons), with a 1.7% share of total production.

In Chile, almond production increased at an average annual rate of +3.7% over the period from 2012-2021.

In 2021, the average yield of almonds in MERCOSUR dropped slightly to X tons per ha, leveling off at the year before. The yield figure increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2015 when the yield increased by 6.8% against the previous year. The level of yield peaked at X tons per ha in 2020, and then shrank in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of almonds in MERCOSUR contracted to X ha, therefore, remained relatively stable against the year before. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 6% against the previous year. Over the period under review, the harvested area dedicated to almond production attained the maximum at X ha in 2020, and then contracted in the following year.

Almond Exports

Exports in MERCOSUR

In 2021, exports of almonds in MERCOSUR surged to X tons, growing by 17% compared with the year before. In general, exports, however, showed a sharp setback. The growth pace was the most rapid in 2015 with an increase of 436% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, almond exports dropped rapidly to $X in 2021. Overall, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 443%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Chile was the main exporting country with an export of around X tons, which resulted at 76% of total exports. Brazil (X tons) ranks second in terms of the total exports with a 10% share, followed by Colombia (8.3%) and Peru (5.1%).

Exports from Chile decreased at an average annual rate of -20.9% from 2012 to 2021. At the same time, Colombia (+68.3%), Brazil (+65.6%) and Peru (+46.7%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +68.3% from 2012-2021. Brazil (+10 p.p.), Colombia (+8.3 p.p.) and Peru (+5.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) emerged as the largest almond supplier in MERCOSUR, comprising 64% of total exports. The second position in the ranking was held by Brazil ($X), with a 28% share of total exports. It was followed by Peru, with a 4% share.

From 2012 to 2021, the average annual growth rate of value in Chile totaled -20.1%. In the other countries, the average annual rates were as follows: Brazil (+101.3% per year) and Peru (+30.0% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, declining by -37.2% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, almond export price increased by +2.7% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 63% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank notably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while Colombia ($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 (+21.6%), while the other leaders experienced mixed trends in the export price figures.

Almond Imports

Imports in MERCOSUR

In 2021, almond imports in MERCOSUR soared to X tons, jumping by 75% against the previous year's figure. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. 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.

In value terms, almond imports surged to $X in 2021. Over the period under review, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Colombia (X tons) represented the main importer of almonds, achieving 62% of total imports. It was distantly followed by Chile (X tons), mixing up a 33% share of total imports. Brazil (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in Colombia (with a CAGR of +50.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Colombia ($X), Chile ($X) and Brazil ($X) were the countries with the highest levels of imports in 2021, with a combined 98% share of total imports.

Colombia, with a CAGR of +49.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, surging by 4.8% against the previous year. Import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, almond import price decreased by -20.8% against 2017 indices. The growth pace was the most rapid in 2016 when the import price increased by 31% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform