MERCOSUR: Canned Vegetable Market 2024

Canned Vegetable Market Size in MERCOSUR

In 2022, the MERCOSUR canned vegetable market increased by 7% to $X, rising for the seventh consecutive year after two years of decline. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Canned Vegetable Production in MERCOSUR

In value terms, canned vegetable production rose modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 6.7% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Canned Vegetable Exports

Exports in MERCOSUR

Canned vegetable exports rose notably to X tons in 2022, picking up by 6.2% compared with the previous year's figure. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 8.7%. 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, canned vegetable exports expanded rapidly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Peru was the major exporting country with an export of around X tons, which reached 61% of total exports. Argentina (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (13%) and Ecuador (4.6%).

Peru experienced a relatively flat trend pattern with regard to volume of exports of canned vegetables. At the same time, Brazil (+8.7%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +8.7% from 2012-2022. By contrast, Ecuador (-1.1%) and Argentina (-3.1%) illustrated a downward trend over the same period. While the share of Brazil (+7.6 p.p.) and Peru (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Argentina (-7.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest canned vegetable supplier in MERCOSUR, comprising 69% of total exports. The second position in the ranking was held by Argentina ($X), with a 16% share of total exports. It was followed by Brazil, with an 8.5% share.

In Peru, canned vegetable exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (-3.0% per year) and Brazil (+9.6% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 5.8%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 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 Peru ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+0.8%), while the other leaders experienced more modest paces of growth.

Canned Vegetable Imports

Imports in MERCOSUR

In 2022, approx. X tons of canned vegetables were imported in MERCOSUR; growing by 3.4% compared with the year before. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 14%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, canned vegetable imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil represented the major importer of canned vegetables in MERCOSUR, with the volume of imports resulting at X tons, which was approx. 56% of total imports in 2022. Chile (X tons) ranks second in terms of the total imports with an 11% share, followed by Uruguay (7.6%), Colombia (6.7%), Argentina (5.9%) and Venezuela (5%). Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to canned vegetable imports into Brazil stood at +1.7%. At the same time, Chile (+13.7%), Colombia (+11.4%), Argentina (+2.1%), Uruguay (+1.8%) and Paraguay (+1.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +13.7% from 2012-2022. By contrast, Venezuela (-6.1%) illustrated a downward trend over the same period. Chile (+7 p.p.) and Colombia (+3.8 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Venezuela saw its share reduced by -4.3% and -6.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported canned vegetables in MERCOSUR, comprising 46% of total imports. The second position in the ranking was taken by Chile ($X), with a 15% share of total imports. It was followed by Uruguay, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil was relatively modest. In the other countries, the average annual rates were as follows: Chile (+8.9% per year) and Uruguay (+1.8% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, growing by 6.8% against the previous year. Overall, the import price, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2021 an increase of 10% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform