Puerto Rico: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in Puerto Rico

The Puerto Rican market for powdered, evaporated and condensed milk amounted to less than $X in 2021, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern.

Exports of Powdered, Evaporated And Condensed Milk

Exports from Puerto Rico

In 2021, approx. less than X kg of powdered, evaporated and condensed milk were exported from Puerto Rico; remaining relatively unchanged against 2020. In general, exports saw a relatively flat trend pattern.

In value terms, powdered, evaporated and condensed milk exports stood at less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

In 2021, New Zealand (X tons), distantly followed by the United States (X tons), Germany (X tons), the Netherlands (X tons), France (X tons) and Belgium (X tons) were the major exporters of powdered, evaporated and condensed milk, together committing 63% of total exports. Australia (X tons), Belarus (X tons), Ireland (X tons), Saudi Arabia (X tons), Uruguay (X tons), the United Arab Emirates (X tons) and Argentina (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to powdered, evaporated and condensed milk exports from New Zealand stood at +1.7%. At the same time, Ireland (+10.7%), the United States (+7.5%), Uruguay (+6.3%), Saudi Arabia (+5.8%), the United Arab Emirates (+5.4%), Belgium (+2.2%) and the Netherlands (+1.3%) displayed positive paces of growth. Moreover, Ireland emerged as the fastest-growing exporter exported in the world, with a CAGR of +10.7% from 2012-2021. France, Germany and Belarus experienced a relatively flat trend pattern. By contrast, Australia (-1.3%) and Argentina (-4.6%) illustrated a downward trend over the same period. The United States (+4.5 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest powdered, evaporated and condensed milk supplier from Puerto Rico, comprising 29% of global exports. The second position in the ranking was taken by the United States ($X), with an 11% share of global exports. It was followed by the Netherlands, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in New Zealand amounted to +2.6%. In the other countries, the average annual rates were as follows: the United States (+6.9% per year) and the Netherlands (+0.8% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, flattening at the previous year. In general, the export price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+1.4%), while the other leaders experienced more modest paces of growth.

Imports of Powdered, Evaporated And Condensed Milk

Imports into Puerto Rico

In 2021, the amount of powdered, evaporated and condensed milk imported into Puerto Rico totaled less than X kg, remaining stable against 2020. Over the period under review, imports recorded a relatively flat trend pattern.

In value terms, powdered, evaporated and condensed milk imports totaled less than $X in 2021. Overall, imports saw a relatively flat trend pattern.

Imports by Country

In 2021, China (X tons), distantly followed by Algeria (X tons) and the Netherlands (X tons) were the largest importers of powdered, evaporated and condensed milk, together comprising 27% of total imports. The United Arab Emirates (X tons), Indonesia (X tons), Belgium (X tons), Saudi Arabia (X tons), Mexico (X tons), Germany (X tons), the Philippines (X tons), Malaysia (X tons), Oman (X tons) and Greece (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the powdered, evaporated and condensed milk imports, with a CAGR of +9.5% from 2012 to 2021. At the same time, Algeria (+5.5%), the United Arab Emirates (+4.1%), Indonesia (+4.0%), Oman (+2.5%), the Philippines (+2.5%), Germany (+2.3%), the Netherlands (+1.9%), Greece (+1.6%) and Belgium (+1.4%) displayed positive paces of growth. Malaysia and Saudi Arabia experienced a relatively flat trend pattern. By contrast, Mexico (-2.3%) illustrated a downward trend over the same period. China (+7.4 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported powdered, evaporated and condensed milk into Puerto Rico, comprising 19% of global imports. The second position in the ranking was taken by Algeria ($X), with a 6.3% share of global imports. It was followed by Indonesia, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +10.2%. The remaining importing countries recorded the following average annual rates of imports growth: Algeria (+4.1% per year) and Indonesia (+3.1% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price saw a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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