Uruguay: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Uruguay

After three years of growth, the Uruguayan breakfast cereal market decreased by -3.1% to $X in 2021. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.4% against 2015 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank modestly in the following year.

Breakfast Cereal Production in Uruguay

In value terms, breakfast cereal production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 42%. Breakfast cereal production peaked at $X in 2020, and then declined modestly in the following year.

Breakfast Cereal Exports

Exports from Uruguay

In 2021, overseas shipments of breakfast cereals decreased by -83.9% to X tons, falling for the third consecutive year after three years of growth. In general, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2013 when exports increased by 57%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, breakfast cereal exports dropped rapidly to $X in 2021. Overall, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 60% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Brazil (X tons), Paraguay (X tons) and Bolivia (X tons) were the main destinations of breakfast cereal exports from Uruguay, with a combined 88% share of total exports. Cuba lagged somewhat behind, comprising a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cuba (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, Paraguay ($X), Brazil ($X) and Bolivia ($X) constituted the largest markets for breakfast cereal exported from Uruguay worldwide, together comprising 89% of total exports.

Among the main countries of destination, Bolivia, with a CAGR of +1.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average breakfast cereal export price amounted to $X per ton, shrinking by -14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 14%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then dropped in the following year.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were Paraguay ($X per ton) and Brazil ($X per ton), while the average price for exports to Bolivia ($X per ton) and Cuba ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Breakfast Cereal Imports

Imports into Uruguay

In 2021, imports of breakfast cereals into Uruguay was estimated at X tons, with an increase of 3.8% on the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 17% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, breakfast cereal imports expanded markedly to $X in 2021. Overall, imports, however, saw a slight descent. The pace of growth appeared the most rapid in 2015 when imports increased by 11% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Argentina (X tons) constituted the largest breakfast cereal supplier to Uruguay, with a 67% share of total imports. Moreover, breakfast cereal imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. Chile (X tons) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+15.8% per year) and Chile (-19.2% per year).

In value terms, Argentina ($X) constituted the largest supplier of breakfast cereal to Uruguay, comprising 57% of total imports. The second position in the ranking was taken by Brazil ($X), with a 26% share of total imports. It was followed by Chile, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Argentina totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+9.9% per year) and Chile (-12.4% per year).

Import Prices by Country

In 2021, the average breakfast cereal import price amounted to $X per ton, surging by 1.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 30%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Chile ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :