MERCOSUR: Powdered Milk Market 2024

Powdered Milk Market Size in MERCOSUR

The MERCOSUR powdered milk market stood at $X in 2022, approximately reflecting the previous year. In general, consumption continues to indicate a noticeable curtailment. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Powdered Milk Production in MERCOSUR

In value terms, powdered milk production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2014 with an increase of 60%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of powdered milk production was Brazil (X tons), comprising approx. 50% of total volume. Moreover, powdered milk production in Brazil exceeded the figures recorded by the second-largest producer, Argentina (X tons), twofold. Uruguay (X tons) ranked third in terms of total production with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Brazil amounted to +1.1%. The remaining producing countries recorded the following average annual rates of production growth: Argentina (-1.9% per year) and Uruguay (+5.8% per year).

Powdered Milk Exports

Exports in MERCOSUR

In 2022, approx. X tons of powdered milk were exported in MERCOSUR; with an increase of 14% compared with the previous year. Overall, exports saw slight growth. The pace of growth was the most pronounced in 2018 with an increase of 39% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, powdered milk exports surged to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +100.3% against 2017 indices. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) and Uruguay (X tons) prevails in exports structure, together making up 92% of total exports. The following exporters - Chile (X tons), Paraguay (X tons) and Brazil (X tons) - together made up 7.9% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Paraguay (with a CAGR of +49.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest powdered milk supplying countries in MERCOSUR were Argentina ($X), Uruguay ($X) and Chile ($X), together accounting for 95% of total exports. Paraguay and Brazil lagged somewhat behind, together accounting for a further 4.2%.

Among the main exporting countries, Paraguay, with a CAGR of +52.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, rising by 16% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 19%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+2.1%), while the other leaders experienced more modest paces of growth.

Powdered Milk Imports

Imports in MERCOSUR

In 2022, approx. X tons of powdered milk were imported in MERCOSUR; with an increase of 7.4% on the year before. Overall, imports, however, recorded a noticeable downturn. The growth pace was the most rapid in 2015 with an increase of 38%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, powdered milk imports soared to $X in 2022. Over the period under review, imports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2020 when imports increased by 29%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) was the key importer of powdered milk, mixing up 40% of total imports. Peru (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (19%) and Venezuela (14%). Chile (X tons) and Guyana (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of powdered milk. At the same time, Colombia (+9.4%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +9.4% from 2012-2022. Peru experienced a relatively flat trend pattern. By contrast, Guyana (-3.2%), Chile (-4.2%) and Venezuela (-15.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Colombia and Peru increased by +15, +14 and +7.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported powdered milk in MERCOSUR, comprising 49% of total imports. The second position in the ranking was held by Peru ($X), with an 18% share of total imports. It was followed by Colombia, with a 16% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at +1.6%. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+0.3% per year) and Colombia (+5.9% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, picking up by 14% against the previous year. Overall, the import price, however, continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 17%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the 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 Chile (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform