Uruguay: Canned Meat Market 2024

Canned Meat Market Size in Uruguay

The Uruguayan canned meat market dropped to $X in 2021, which is down by -12.5% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Canned Meat Production in Uruguay

In value terms, canned meat production shrank to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Canned Meat Exports

Exports from Uruguay

For the fourth year in a row, Uruguay recorded growth in shipments abroad of canned meat, which increased by 14% to X tons in 2021. Overall, exports posted a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of 24% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, canned meat exports soared to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +48.9% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for canned meat exports from Uruguay, with a 85% share of total exports. Moreover, canned meat exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+43.3% per year) and the United Arab Emirates (+261.2% per year).

In value terms, the United States ($X) remains the key foreign market for canned meat exports from Uruguay, comprising 88% of total exports. The second position in the ranking was held by South Korea ($X), with a 4.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+50.9% per year) and the United Arab Emirates (+223.5% per year).

Export Prices by Country

The average canned meat export price stood at $X per ton in 2021, with an increase of 15% against the previous year. Over the period under review, the export price, however, recorded a perceptible curtailment. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+5.3%), while the prices for the other major destinations experienced a decline.

Canned Meat Imports

Imports into Uruguay

Canned meat imports into Uruguay amounted to X tons in 2021, with an increase of 9.3% against the previous year. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.8% against 2017 indices. The growth pace was the most rapid in 2018 when imports increased by 32% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, canned meat imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 34% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of canned meat to Uruguay, with a 77% share of total imports. Moreover, canned meat imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fivefold. Paraguay (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+31.4% per year) and Paraguay (+123.0% per year).

In value terms, Brazil ($X) constituted the largest supplier of canned meat to Uruguay, comprising 69% of total imports. The second position in the ranking was held by Argentina ($X), with a 20% share of total imports. It was followed by Paraguay, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+29.1% per year) and Paraguay (+141.6% per year).

Import Prices by Country

The average canned meat import price stood at $X per ton in 2021, growing by 7.8% against the previous year. Over the period under review, the import price, however, saw a noticeable descent. The pace of growth appeared the most rapid in 2017 an increase of 9.4%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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