MERCOSUR: Manuka Market 2024

Manuka Market Size in MERCOSUR

The MERCOSUR manuka market dropped slightly to $X in 2022, declining by -4.4% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Manuka Production in MERCOSUR

In value terms, manuka production stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by 27%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Manuka Exports

Exports in MERCOSUR

In 2022, manuka exports in MERCOSUR amounted to X tons, approximately mirroring the year before. The total export volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when exports increased by 34%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, manuka exports expanded slightly to $X in 2022. Total exports indicated a measured expansion 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 when exports increased by 38%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Argentina (X tons) represented the key exporter of manuka, creating 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) held a minor share 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 Brazil (with a CAGR of +8.2%), while the other leaders experienced a decline in the exports figures.

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

In terms of 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

In 2022, the export price in MERCOSUR amounted to $X per ton, picking up by 3.4% against the previous year. Export price indicated pronounced growth 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, manuka export price increased by +56.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by 51%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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.

Manuka Imports

Imports in MERCOSUR

In 2022, the amount of manuka imported in MERCOSUR soared to X tons, with an increase of 17% against 2021 figures. In general, imports enjoyed mild growth. The growth pace was the most rapid in 2020 when imports increased by 186% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, manuka imports dropped to $X in 2022. Over the period under review, imports saw modest growth. The pace of growth appeared the most rapid in 2020 with an increase of 160%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Colombia dominates imports structure, recording X tons, which was near 78% of total imports in 2022. Suriname (X tons) held a 7.3% share (based on physical terms) of total imports, which put it in second place, followed by Guyana (4.8%). Venezuela (X tons), Ecuador (X tons) and Argentina (X tons) took a relatively small share of total imports.

Colombia was also the fastest-growing in terms of the manuka 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 ($X) constitutes the largest market for imported manuka in MERCOSUR, comprising 79% of total imports. The second position in the ranking was held by Argentina ($X), with a 5.7% share of total imports. It was followed by Venezuela, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value in Colombia amounted to +49.1%. 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

In 2022, the import price in MERCOSUR amounted to $X per ton, falling by -15.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 34% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted remarkably in the following year.

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 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