MERCOSUR: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in MERCOSUR

In 2022, the MERCOSUR market for condensed or evaporated milk (sweetened) decreased by -5.6% to $X for the first time since 2016, thus ending a five-year rising trend. The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2021, and then contracted in the following year.

Production of Condensed Or Evaporated Milk (Sweetened) in MERCOSUR

In value terms, sweetened condensed and evaporated milk production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 19%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports in MERCOSUR

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were exported in MERCOSUR; jumping by 22% against the year before. In general, exports, however, showed a pronounced setback. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk exports skyrocketed to $X in 2022. Overall, exports, however, saw a noticeable downturn. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Chile was the major exporting country with an export of around X tons, which resulted at 70% of total exports. It was distantly followed by Brazil (X tons), creating a 22% share of total exports. Peru (X tons) and Argentina (X tons) took a little share of total exports.

Chile experienced a relatively flat trend pattern with regard to volume of exports of condensed or evaporated milk (sweetened). At the same time, Argentina (+13.3%) and Peru (+10.4%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +13.3% from 2012-2022. By contrast, Brazil (-9.6%) illustrated a downward trend over the same period. While the share of Chile (+20 p.p.), Peru (+2.7 p.p.) and Argentina (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-24.8 p.p.) displayed negative dynamics.

In value terms, Chile ($X) remains the largest sweetened condensed and evaporated milk supplier in MERCOSUR, comprising 71% of total exports. The second position in the ranking was taken by Brazil ($X), with a 23% share of total exports. It was followed by Peru, with a 3% share.

In Chile, sweetened condensed and evaporated milk exports increased at an average annual rate of +1.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-10.1% per year) and Peru (+7.5% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, rising by 11% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 12%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+9.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports in MERCOSUR

In 2022, the amount of condensed or evaporated milk (sweetened) imported in MERCOSUR rose modestly to X tons, with an increase of 1.6% on the previous year. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 21% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk imports rose notably to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 20%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Peru (X tons) and Chile (X tons) were the largest importers of condensed or evaporated milk (sweetened) in MERCOSUR, together generating 63% of total imports. Ecuador (X tons) held the next position in the ranking, followed by Venezuela (X tons) and Paraguay (X tons). All these countries together held near 31% share of total imports. Guyana (X tons) and Argentina (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 +45.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sweetened condensed and evaporated milk importing markets in MERCOSUR were Peru ($X), Chile ($X) and Ecuador ($X), together accounting for 75% of total imports.

Chile, with a CAGR of +49.1%, 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 2022, picking up by 9.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Guyana ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform