Uruguay: Albumins And Albuminates Market 2024

Albumins And Albuminates Market Size in Uruguay

The Uruguayan albumins and albuminates market shrank significantly to $X in 2021, which is down by -40.9% 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). Overall, consumption, however, continues to indicate strong growth. Albumins and albuminates consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Albumins And Albuminates Exports

Exports from Uruguay

In 2021, after two years of growth, there was significant decline in shipments abroad of albumins, albuminates and other derivatives (excluding egg albumin), when their volume decreased by -26.7% to X tons. In general, exports recorded a pronounced contraction. The pace of growth appeared the most rapid in 2020 with an increase of 34%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, albumins and albuminates exports shrank sharply to $X in 2021. Overall, exports continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 34%. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Spain (X tons) was the main destination for albumins and albuminates exports from Uruguay, accounting for a 94% share of total exports. Moreover, albumins and albuminates exports to Spain exceeded the volume sent to the second major destination, South Korea (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled -4.6%.

In value terms, Spain ($X) remains the key foreign market for albumins, albuminates and other derivatives (excluding egg albumin) exports from Uruguay, comprising 95% of total exports. The second position in the ranking was held by South Korea ($X), with a 5.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Spain totaled -3.8%.

Export Prices by Country

In 2021, the average albumins and albuminates export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 6.5% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to South Korea totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Albumins And Albuminates Imports

Imports into Uruguay

After two years of growth, purchases abroad of albumins, albuminates and other derivatives (excluding egg albumin) decreased by -36% to X tons in 2021. In general, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 72%. Imports peaked at X tons in 2020, and then dropped rapidly in the following year.

In value terms, albumins and albuminates imports declined remarkably to $X in 2021. Over the period under review, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 67% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then fell dramatically in the following year.

Imports by Country

In 2021, Argentina (X tons) constituted the largest supplier of albumins and albuminates to Uruguay, with a 67% share of total imports. Moreover, albumins and albuminates imports from Argentina exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+8.9% per year) and the United States (-8.4% per year).

In value terms, Argentina ($X) constituted the largest supplier of albumins, albuminates and other derivatives (excluding egg albumin) to Uruguay, comprising 56% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Argentina totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.4% per year) and the Netherlands (+7.1% per year).

Import Prices by Country

In 2021, the average albumins and albuminates import price amounted to $X per ton, falling by -4.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 31% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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