MERCOSUR: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in MERCOSUR

In 2022, the MERCOSUR preserved sweet corn market increased by 7.9% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Preserved Sweet Corn Production in MERCOSUR

In value terms, preserved sweet corn production totaled $X in 2022 estimated in export price. Overall, production, however, saw a mild contraction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 6.3%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Brazil (X tons) constituted the country with the largest volume of preserved sweet corn production, accounting for 90% of total volume. Moreover, preserved sweet corn production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in Brazil was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Peru (+0.9% per year) and Ecuador (+1.3% per year).

Preserved Sweet Corn Exports

Exports in MERCOSUR

After two years of growth, overseas shipments of sweet corn prepared or preserved decreased by -9.7% to X tons in 2022. Over the period under review, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 30%. Over the period under review, the exports reached the maximum at X tons in 2021, and then dropped in the following year.

In value terms, preserved sweet corn exports rose significantly to $X in 2022. In general, exports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 35%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Brazil dominates exports structure, recording X tons, which was approx. 94% of total exports in 2022. It was distantly followed by Peru (X tons), achieving a 4.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to preserved sweet corn exports from Brazil stood at +9.2%. At the same time, Peru (+67.5%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +67.5% from 2012-2022. While the share of Brazil (+5 p.p.) and Peru (+4.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest preserved sweet corn supplier in MERCOSUR, comprising 95% of total exports. The second position in the ranking was taken by Peru ($X), with a 3.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at +9.5%.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, picking up by 24% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+0.3%).

Preserved Sweet Corn Imports

Imports in MERCOSUR

In 2022, after two years of growth, there was significant decline in purchases abroad of sweet corn prepared or preserved, when their volume decreased by -9% to X tons. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 30% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, preserved sweet corn imports expanded sharply to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 27%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Argentina (X tons) and Colombia (X tons) represented roughly 63% of total imports in 2022. Paraguay (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Uruguay (8%) and Chile (6.2%). The following importers - Guyana (X tons) and Venezuela (X tons) - each reached an 8.7% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +17.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sweet corn importing markets in MERCOSUR were Argentina ($X), Colombia ($X) and Paraguay ($X), together accounting for 74% of total imports.

In terms of the main importing countries, Colombia, with a CAGR of +14.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, growing by 17% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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 ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform