MERCOSUR: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in MERCOSUR

The MERCOSUR butter and dairy spreads market reduced notably to $X in 2022, dropping by -26.8% against the previous year. Over the period under review, consumption, however, continues to indicate buoyant growth. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Butter And Dairy Spreads in MERCOSUR

In value terms, butter and dairy spreads production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 30% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Uruguay (X tons), Argentina (X tons) and Paraguay (X tons), together comprising 98% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Paraguay (with a CAGR of +1.1%), while production for the other leaders experienced more modest paces of growth.

Exports of Butter And Dairy Spreads

Exports in MERCOSUR

In 2022, shipments abroad of butter and dairy spreads increased by 29% to X tons, rising for the fifth consecutive year after five years of decline. Over the period under review, exports, however, continue to indicate a pronounced contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and dairy spreads exports skyrocketed to $X in 2022. Overall, exports enjoyed a slight expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina (X tons) and Uruguay (X tons) prevails in exports structure, together constituting 90% of total exports. The following exporters - Paraguay (X tons), Colombia (X tons) and Brazil (X tons) - each finished at a 9% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Colombia (with a CAGR of +38.9%), while the other leaders experienced more modest paces of growth.

In value terms, Uruguay ($X), Argentina ($X) and Paraguay ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 95% share of total exports. Brazil and Colombia lagged somewhat behind, together comprising a further 4.7%.

In terms of the main exporting countries, Colombia, with a CAGR of +39.0%, 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 more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, jumping by 25% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by +33.5% against 2020 indices. The growth pace was the most rapid in 2017 when the export price increased by 47% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Uruguay ($X per ton) and Brazil ($X per ton), while Colombia ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+5.8%), while the other leaders experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports in MERCOSUR

Butter and dairy spreads imports shrank markedly to X tons in 2022, waning by -18.5% compared with the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 78% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, butter and dairy spreads imports reduced slightly to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 78% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Chile (X tons) and Brazil (X tons) represented roughly 72% of total imports in 2022. Uruguay (X tons) ranks next in terms of the total imports with a 14% share, followed by Peru (6.3%). Venezuela (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Chile (with a CAGR of +14.6%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Chile ($X), Brazil ($X) and Uruguay ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 88% of total imports.

Chile, with a CAGR of +19.2%, recorded 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

In 2022, the import price in MERCOSUR amounted to $X per ton, jumping by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2017 an increase of 38% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Chile ($X per ton) and Brazil ($X per ton), while Venezuela ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform