MERCOSUR: Non-Wheat Cereal Pellets Market 2024

Non-Wheat Cereal Pellets Market Size in MERCOSUR

In 2021, the MERCOSUR non-wheat cereal pellets market decreased by -1.1% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.6% against 2017 indices. The level of consumption peaked at $X in 2020, and then declined in the following year.

Non-Wheat Cereal Pellets Production in MERCOSUR

In value terms, non-wheat cereal pellets production fell modestly to $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +69.9% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 51% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Non-Wheat Cereal Pellets Exports

Exports in MERCOSUR

After eight years of decline, overseas shipments of cereal pellets (excluding wheat) increased by 19% to X tons in 2021. Over the period under review, exports, however, showed a significant decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-wheat cereal pellets exports surged to $X in 2021. In general, exports, however, showed a deep setback. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) represented roughly 99.9% of total exports in 2021.

Argentina was also the fastest-growing in terms of the cereal pellets (excluding wheat) exports, with a CAGR of -22.1% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) also remains the largest non-wheat cereal pellets supplier in MERCOSUR.

In Argentina, non-wheat cereal pellets exports decreased by an average annual rate of -18.9% over the period from 2012-2021.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, remaining stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The growth pace was the most rapid in 2016 an increase of 18%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Argentina.

From 2012 to 2021, the rate of growth in terms of prices for Argentina amounted to +4.0% per year.

Non-Wheat Cereal Pellets Imports

Imports in MERCOSUR

In 2021, supplies from abroad of cereal pellets (excluding wheat) increased by 8.7% to X tons, rising for the sixth year in a row after two years of decline. Total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.6% against 2015 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 18% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, non-wheat cereal pellets imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 16% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Colombia represented the main importer of cereal pellets (excluding wheat) in MERCOSUR, with the volume of imports accounting for X tons, which was approx. 82% of total imports in 2021. Peru (X tons) ranks second in terms of the total imports with a 12% share, followed by Ecuador (4.5%).

From 2012 to 2021, average annual rates of growth with regard to non-wheat cereal pellets imports into Colombia stood at +9.8%. At the same time, Peru (+21.4%) and Ecuador (+17.8%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +21.4% from 2012-2021. While the share of Colombia (+29 p.p.), Peru (+9 p.p.) and Ecuador (+3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X) constitutes the largest market for imported cereal pellets (excluding wheat) in MERCOSUR, comprising 82% of total imports. The second position in the ranking was held by Peru ($X), with a 12% share of total imports.

In Colombia, non-wheat cereal pellets imports increased at an average annual rate of +10.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Peru (+18.4% per year) and Ecuador (+14.0% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, surging by 5.4% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 12% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Colombia ($X per ton), while Ecuador ($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 (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform