Paraguay: Peanut Butter Market 2024

Peanut Butter Market Size in Paraguay

The Paraguayan peanut butter market dropped rapidly to $X in 2022, reducing by -19.1% against the previous year. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then fell markedly in the following year.

Peanut Butter Production in Paraguay

In value terms, peanut butter production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 51% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Peanut Butter Exports

Exports from Paraguay

In 2022, after two years of decline, there was significant growth in overseas shipments of peanut butter and prepared or preserved groundnuts, when their volume increased by 321% to X tons. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 15,426% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, peanut butter exports skyrocketed to $X in 2022. Over the period under review, exports posted significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 7,971%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

The Netherlands (X tons) was the main destination for peanut butter exports from Paraguay, accounting for a 60% share of total exports. Moreover, peanut butter exports to the Netherlands exceeded the volume sent to the second major destination, Poland (X tons), fourfold. The third position in this ranking was held by Chile (X tons), with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled +27.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and Chile (-0.7% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for peanut butter and prepared or preserved groundnuts exports from Paraguay, comprising 62% of total exports. The second position in the ranking was held by Chile ($X), with a 12% share of total exports. It was followed by Uruguay, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to +43.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-2.1% per year) and Uruguay (+5.4% per year).

Export Prices by Country

In 2022, the average peanut butter export price amounted to $X per ton, with a decrease of -26.3% against the previous year. In general, the export price saw a perceptible contraction. The growth pace was the most rapid in 2017 an increase of 63% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+30.7%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into Paraguay

Peanut butter imports into Paraguay totaled X tons in 2022, with an increase of 2.3% compared with the previous year's figure. Over the period under review, imports showed a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 40%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, peanut butter imports stood at $X in 2022. Overall, imports saw buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by 54%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Brazil (X tons) was the main supplier of peanut butter to Paraguay, accounting for a 90% share of total imports. Moreover, peanut butter imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+13.6% per year) and Colombia (+33.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of peanut butter and prepared or preserved groundnuts to Paraguay, comprising 81% of total imports. The second position in the ranking was held by Argentina ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+9.8% per year) and Colombia (+22.7% per year).

Import Prices by Country

The average peanut butter import price stood at $X per ton in 2022, picking up by 5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 43%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform