Uruguay: Bacon And Ham Market 2024

Bacon And Ham Market Size in Uruguay

The Uruguayan bacon and ham market shrank slightly to $X in 2022, declining by -2.2% against the previous year. Over the period under review, consumption, however, faced a deep downturn. The growth pace was the most rapid in 2021 with an increase of 9.5%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Bacon And Ham Production in Uruguay

In value terms, bacon and ham production contracted to $X in 2022 estimated in export price. In general, production faced a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 12%. Bacon and ham production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Bacon And Ham Exports

Exports from Uruguay

Bacon and ham exports from Uruguay surged to X tons in 2022, rising by 395% against the previous year's figure. In general, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, bacon and ham exports surged to $X in 2022. Over the period under review, exports saw a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for bacon and ham exports from Uruguay, accounting for a 77% share of total exports. Moreover, bacon and ham exports to Spain exceeded the volume sent to the second major destination, Paraguay (X kg), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+587.2% per year) and the UK (+21.8% per year).

In value terms, Spain ($X) remains the key foreign market for bacon, ham and other dried, salted or smoked pig meat exports from Uruguay, comprising 81% of total exports. The second position in the ranking was taken by the UK ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+26.3% per year) and Paraguay (+891.3% per year).

Export Prices by Country

The average bacon and ham export price stood at $X per ton in 2022, surging by 26% against the previous year. In general, the export price, however, showed a mild descent. The pace of growth appeared the most rapid in 2013 an increase of 41%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Paraguay ($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 Paraguay (+44.2%), while the prices for the other major destinations experienced more modest paces of growth.

Bacon And Ham Imports

Imports into Uruguay

In 2022, after two years of decline, there was significant growth in overseas purchases of bacon, ham and other dried, salted or smoked pig meat, when their volume increased by 41% to X tons. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, bacon and ham imports soared to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest bacon and ham supplier to Uruguay, with a 64% share of total imports. Moreover, bacon and ham imports from Spain exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-2.2% per year) and Italy (-3.0% per year).

In value terms, Spain ($X) constituted the largest supplier of bacon, ham and other dried, salted or smoked pig meat to Uruguay, comprising 70% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by Brazil, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-5.3% per year) and Brazil (-11.1% per year).

Import Prices by Country

The average bacon and ham import price stood at $X per ton in 2022, falling by -5.7% against the previous year. Over the period under review, the import price recorded a noticeable decline. The most prominent rate of growth was recorded in 2020 an increase of 12%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Brazil ($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 (+4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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