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

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

The Puerto Rican market for powdered, condensed or evaporated milk stood at less than $X in 2021, approximately mirroring 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). Overall, consumption showed a relatively flat trend pattern.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Puerto Rico

In value terms, powdered, condensed or evaporated milk exports totaled less than $X in 2021. Over the period under review, exports continue to indicate 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) represented the major exporters of powdered, condensed or evaporated milk, together mixing up 64% 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) followed a long way behind the leaders.

Exports from New Zealand increased at an average annual rate of +1.7% from 2012 to 2021. At the same time, Ireland (+10.7%), the United States (+7.5%), Uruguay (+6.3%), Saudi Arabia (+5.0%), the United Arab Emirates (+4.4%), Belgium (+2.2%) and the Netherlands (+1.5%) 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 (-1.4%) and Argentina (-4.6%) illustrated a downward trend over the same period. While the share of the United States (+4.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest powdered, condensed or evaporated milk supplier from Puerto Rico, comprising 30% of global exports. The second position in the ranking was held by the United States ($X), with an 11% share of global exports. It was followed by the Netherlands, with a 7.1% share.

In New Zealand, powdered, condensed or evaporated milk exports expanded at an average annual rate of +2.6% over the period from 2012-2021. 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

The export price in Puerto Rico stood at less than $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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, Condensed Or Evaporated Milk

Imports into Puerto Rico

In value terms, powdered, condensed or evaporated milk imports amounted to less than $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, China (X tons), distantly followed by Algeria (X tons) and the Netherlands (X tons) represented the largest importers of powdered, condensed or evaporated milk, together mixing up 27% of total imports. The following importers - the United Arab Emirates (X tons), Indonesia (X tons), Belgium (X tons), Saudi Arabia (X tons), Germany (X tons), Mexico (X tons), the Philippines (X tons), Malaysia (X tons), Oman (X tons) and Greece (X tons) - together made up 27% of total imports.

China was also the fastest-growing in terms of the powdered, condensed or evaporated milk imports, with a CAGR of +9.5% from 2012 to 2021. At the same time, Algeria (+5.5%), Indonesia (+4.0%), the United Arab Emirates (+3.6%), Oman (+2.4%), Germany (+2.3%), the Philippines (+2.2%), the Netherlands (+1.7%), Greece (+1.5%) and Belgium (+1.4%) displayed positive paces of growth. Malaysia and Saudi Arabia experienced a relatively flat trend pattern. By contrast, Mexico (-3.9%) illustrated a downward trend over the same period. While the share of China (+7.5 p.p.) and Algeria (+1.5 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Mexico (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported powdered, condensed or evaporated milk into Puerto Rico, comprising 19% of global imports. The second position in the ranking was held by Algeria ($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 growth rate of value in China amounted to +10.2%. In the other countries, the average annual rates were as follows: Algeria (+4.1% per year) and Indonesia (+3.1% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, standing approx. at the previous year. Over the period under review, the import price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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

Frequently Asked Questions (FAQ) :