MERCOSUR: Dairy Spread Market 2024

Dairy Spread Market Size in MERCOSUR

The MERCOSUR dairy spread market dropped slightly to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Dairy Spread Production in MERCOSUR

In value terms, dairy spread production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 31% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Dairy Spread Exports

Exports in MERCOSUR

In 2022, approx. X tons of dairy spreads were exported in MERCOSUR; shrinking by -1.9% against 2021 figures. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 2,448%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, dairy spread exports surged to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2018 with an increase of 1,916%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela was the main exporter of dairy spreads in MERCOSUR, with the volume of exports accounting for X tons, which was approx. 71% of total exports in 2022. It was distantly followed by Uruguay (X tons) and Argentina (X tons), together constituting a 25% share of total exports. The following exporters - Brazil (X tons) and Guyana (X tons) - each resulted at a 4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to dairy spread exports from Venezuela stood at -6.2%. At the same time, Brazil (+36.8%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +36.8% from 2012-2022. Guyana experienced a relatively flat trend pattern. By contrast, Uruguay (-2.1%) and Argentina (-10.8%) illustrated a downward trend over the same period. While the share of Venezuela (+71 p.p.), Uruguay (+18 p.p.), Argentina (+7.1 p.p.) and Guyana (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-1.8 p.p.) displayed negative dynamics.

In value terms, the largest dairy spread supplying countries in MERCOSUR were Venezuela ($X), Uruguay ($X) and Argentina ($X), with a combined 98% share of total exports. Guyana and Brazil lagged somewhat behind, together comprising a further 1.5%.

Among the main exporting countries, Brazil, with a CAGR of +15.7%, saw the highest growth rate of 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 2022, the export price in MERCOSUR amounted to $X per ton, increasing by 18% against the previous year. Overall, the export price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2014 when the export price increased by 75% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+2.0%), while the other leaders experienced a decline in the export price figures.

Dairy Spread Imports

Imports in MERCOSUR

In 2022, supplies from abroad of dairy spreads decreased by -31.8% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2015 with an increase of 252% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, dairy spread imports contracted markedly to $X in 2022. Overall, imports, however, showed a strong increase. The growth pace was the most rapid in 2015 when imports increased by 169%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Peru (X tons) and Chile (X tons) represented the main importers of dairy spreads in 2022, reaching approx. 48% and 33% of total imports, respectively. Colombia (X tons) took the next position in the ranking, followed by Ecuador (X tons). All these countries together took near 17% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +152.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Peru ($X) and Ecuador ($X) were the countries with the highest levels of imports in 2022, together accounting for 95% of total imports.

In terms of the main importing countries, Chile, with a CAGR of +158.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, increasing by 5.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 48% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ecuador ($X per ton), while Colombia ($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 (+27.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform