MERCOSUR: Honey Market 2024

Honey Market Size in MERCOSUR

The MERCOSUR honey market dropped to $X in 2022, which is down by -4.4% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Honey Production in MERCOSUR

In value terms, honey production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a slight downturn. The growth pace was the most rapid in 2017 with an increase of 27%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Honey Exports

Exports in MERCOSUR

In 2022, honey exports in MERCOSUR amounted to X tons, remaining relatively unchanged against 2021 figures. The total export volume increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 34%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, honey exports totaled $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +81.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Argentina (X tons) was the major exporter of honey, achieving 58% of total exports. Brazil (X tons) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Uruguay (8.2%). Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of +8.2%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest honey supplying countries in MERCOSUR were Argentina ($X), Brazil ($X) and Uruguay ($X), with a combined 96% share of total exports.

Among the main exporting countries, Brazil, with a CAGR of +10.2%, saw the highest rates of growth with regard to 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

The export price in MERCOSUR stood at $X per ton in 2022, picking up by 3.4% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey export price increased by +56.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 51% against the previous year. Over the period under review, the export prices reached the maximum 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 ($X per ton) and Brazil ($X per ton), while Argentina ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.9%), while the other leaders experienced more modest paces of growth.

Honey Imports

Imports in MERCOSUR

Honey imports skyrocketed to X tons in 2022, rising by 17% compared with the year before. Overall, imports continue to indicate modest growth. The pace of growth appeared the most rapid in 2020 with an increase of 186%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, honey imports shrank modestly to $X in 2022. Over the period under review, imports saw a modest increase. The most prominent rate of growth was recorded in 2020 when imports increased by 160%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Colombia prevails in imports structure, recording X tons, which was near 78% of total imports in 2022. Suriname (X tons) ranks second in terms of the total imports with a 7.3% share, followed by Guyana (4.8%). Venezuela (X tons), Ecuador (X tons) and Argentina (X tons) followed a long way behind the leaders.

Colombia was also the fastest-growing in terms of the honey imports, with a CAGR of +51.3% from 2012 to 2022. At the same time, Suriname (+26.5%) and Guyana (+1.2%) displayed positive paces of growth. By contrast, Venezuela (-10.4%), Argentina (-16.8%) and Ecuador (-21.0%) illustrated a downward trend over the same period. While the share of Colombia (+77 p.p.) and Suriname (+6.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Venezuela (-9.7 p.p.), Argentina (-13.1 p.p.) and Ecuador (-27.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X) constitutes the largest market for imported honey in MERCOSUR, comprising 79% of total imports. The second position in the ranking was taken by Argentina ($X), with a 5.7% share of total imports. It was followed by Venezuela, with a 4.7% share.

In Colombia, honey imports increased at an average annual rate of +49.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (-7.7% per year) and Venezuela (-11.9% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, with a decrease of -15.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 34%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Suriname ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+11.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform