MERCOSUR: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in MERCOSUR

In 2022, the MERCOSUR evaporated and condensed milk market decreased by -0.8% to $X, falling for the second consecutive year after four years of growth. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Production of Evaporated And Condensed Milk in MERCOSUR

In value terms, evaporated and condensed milk production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 11% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Peru (X tons) constituted the country with the largest volume of evaporated and condensed milk production, comprising approx. 79% of total volume. Moreover, evaporated and condensed milk production in Peru exceeded the figures recorded by the second-largest producer, Brazil (X tons), eightfold. Chile (X tons) ranked third in terms of total production with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Peru amounted to +1.8%. The remaining producing countries recorded the following average annual rates of production growth: Brazil (+1.2% per year) and Chile (+1.1% per year).

Exports of Evaporated And Condensed Milk

Exports in MERCOSUR

In 2022, overseas shipments of evaporated and condensed milk were finally on the rise to reach X tons after five years of decline. In general, exports, however, recorded a drastic downturn. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, evaporated and condensed milk exports skyrocketed to $X in 2022. Overall, exports, however, saw a abrupt shrinkage. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Chile was the largest exporter of evaporated and condensed milk in MERCOSUR, with the volume of exports resulting at X tons, which was near 52% of total exports in 2022. It was distantly followed by Peru (X tons) and Brazil (X tons), together committing a 45% share of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +13.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Chile ($X) remains the largest evaporated and condensed milk supplier in MERCOSUR, comprising 56% of total exports. The second position in the ranking was held by Peru ($X), with a 23% share of total exports. It was followed by Brazil, with an 18% share.

In Chile, evaporated and condensed milk exports increased at an average annual rate of +1.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (-13.7% per year) and Brazil (-10.1% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, picking up by 7.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the export price increased by 11% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 (+9.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Evaporated And Condensed Milk

Imports in MERCOSUR

In 2022, purchases abroad of evaporated and condensed milk decreased by -10.7% to X tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 21% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, evaporated and condensed milk imports declined modestly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 20% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Chile (X tons) and Peru (X tons) were the main importers of evaporated and condensed milk in 2022, finishing at near 31% and 31% of total imports, respectively. Ecuador (X tons) took the next position in the ranking, followed by Venezuela (X tons), Guyana (X tons) and Paraguay (X tons). All these countries together held near 34% share of total imports. Argentina (X tons) took 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 +15.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest evaporated and condensed milk importing markets in MERCOSUR were Chile ($X), Peru ($X) and Ecuador ($X), with a combined 72% share of total imports.

Chile, with a CAGR of +17.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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, with an increase of 9.1% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 11% against the previous year. The level of import peaked at $X per ton in 2013; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform