MERCOSUR: Citric Acid Market 2024

Citric Acid Market Size in MERCOSUR

The MERCOSUR citric acid market totaled $X in 2021, rising by 5.2% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The level of consumption peaked in 2021 and is likely to continue growth in the immediate term.

Citric Acid Production in MERCOSUR

In value terms, citric acid production reduced modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 18%. Over the period under review, production hit record highs at $X in 2020, and then reduced slightly in the following year.

Citric Acid Exports

Exports in MERCOSUR

In 2021, overseas shipments of citric acid and its salts and esters decreased by -2.5% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 12% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, citric acid exports expanded markedly to $X in 2021. Over the period under review, exports saw a drastic downturn. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Colombia represented the major exporter of citric acid and its salts and esters in MERCOSUR, with the volume of exports accounting for X tons, which was near 66% of total exports in 2021. It was distantly followed by Brazil (X tons), constituting a 29% share of total exports. Uruguay (X tons) and Peru (X tons) took a relatively small share of total exports.

Colombia experienced a relatively flat trend pattern with regard to volume of exports of citric acid and its salts and esters. At the same time, Peru (+26.8%) and Uruguay (+6.4%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +26.8% from 2012-2021. By contrast, Brazil (-6.0%) illustrated a downward trend over the same period. Colombia (+22 p.p.), Peru (+1.9 p.p.) and Uruguay (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -3.7% from 2012 to 2021, respectively.

In value terms, Colombia ($X), Brazil ($X) and Uruguay ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 95% share of total exports. These countries were followed by Peru, which accounted for a further 4.2%.

Among the main exporting countries, Peru, with a CAGR of +20.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, rising by 14% against the previous year. Overall, the export price, however, saw a perceptible contraction. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Colombia ($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 (-3.3%), while the other leaders experienced a decline in the export price figures.

Citric Acid Imports

Imports in MERCOSUR

In 2021, approx. X tons of citric acid and its salts and esters were imported in MERCOSUR; jumping by 24% compared with 2020. In general, imports, however, continue to indicate a slight downturn. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, citric acid imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a mild downturn. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Argentina (X tons) represented the key importer of citric acid and its salts and esters, creating 35% of total imports. Brazil (X tons) held the second position in the ranking, followed by Colombia (X tons), Chile (X tons), Peru (X tons) and Ecuador (X tons). All these countries together held near 62% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +8.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and Colombia ($X) constituted the countries with the highest levels of imports in 2021, together comprising 71% of total imports.

Colombia, with a CAGR of +9.6%, 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 more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, jumping by 32% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform