MERCOSUR: Fructose Market 2024

Fructose Market Size in MERCOSUR

The MERCOSUR fructose market was finally on the rise to reach $X in 2021, after seven years of decline. Overall, consumption, however, saw a abrupt descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Fructose Production in MERCOSUR

In value terms, fructose production expanded to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt decline. The growth pace was the most rapid in 2013 with an increase of 27% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Fructose Exports

Exports in MERCOSUR

In 2021, exports of fructose and fructose syrup in MERCOSUR contracted to X tons, shrinking by -10.9% compared with the previous year. Overall, exports showed a pronounced shrinkage. The growth pace was the most rapid in 2017 when exports increased by 35%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, fructose exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a pronounced curtailment. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Brazil (X tons) represented the largest exporter of fructose and fructose syrup, making up 47% of total exports. Argentina (X tons) ranks second in terms of the total exports with a 31% share, followed by Chile (19%). Colombia (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +4.7%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Chile ($X) remains the largest fructose supplier in MERCOSUR, comprising 51% of total exports. The second position in the ranking was taken by Brazil ($X), with a 24% share of total exports. It was followed by Argentina, with a 17% share.

In Chile, fructose exports contracted by an average annual rate of -4.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-2.7% per year) and Argentina (-8.7% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, surging by 30% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Fructose Imports

Imports in MERCOSUR

For the third year in a row, MERCOSUR recorded growth in supplies from abroad of fructose and fructose syrup, which increased by 2.7% to X tons in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 13%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, fructose imports soared to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Chile was the main importer of fructose and fructose syrup in MERCOSUR, with the volume of imports accounting for X tons, which was near 42% of total imports in 2021. Peru (X tons) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (13%), Brazil (9.9%), Argentina (6.1%) and Ecuador (4.7%). Uruguay (X tons) followed a long way behind the leaders.

Chile experienced a relatively flat trend pattern with regard to volume of imports of fructose and fructose syrup. At the same time, Ecuador (+8.9%) and Peru (+2.7%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +8.9% from 2012-2021. Argentina experienced a relatively flat trend pattern. By contrast, Brazil (-1.4%), Colombia (-1.5%) and Uruguay (-11.9%) illustrated a downward trend over the same period. Peru (+4.4 p.p.), Ecuador (+2.6 p.p.) and Chile (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Colombia and Uruguay saw its share reduced by -1.7% and -7.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fructose importing markets in MERCOSUR were Chile ($X), Peru ($X) and Brazil ($X), with a combined 69% share of total imports. Colombia, Argentina, Ecuador and Uruguay lagged somewhat behind, together accounting for a further 29%.

Ecuador, with a CAGR of +7.9%, recorded 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

In 2021, the import price in MERCOSUR amounted to $X per ton, picking up by 21% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. 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 ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform