Uruguay: Cereal Flour Market 2024

Cereal Flour Market Size in Uruguay

The Uruguayan cereal flour market rose slightly to $X in 2022, with an increase of X% against the previous year. In general, consumption, however, recorded a mild contraction. Cereal flour consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Cereal Flour Production in Uruguay

In value terms, cereal flour production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced slump. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Cereal Flour Exports

Exports from Uruguay

In 2022, shipments abroad of cereal flours increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, cereal flour exports soared to $X in 2022. Over the period under review, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for cereal flour exports from Uruguay, accounting for a X% share of total exports. Moreover, cereal flour exports to Brazil exceeded the volume sent to the second major destination, Venezuela (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (X% per year) and Cuba (X% per year).

In value terms, Brazil ($X) remains the key foreign market for cereal flours exports from Uruguay, comprising X% of total exports. The second position in the ranking was held by Venezuela ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Brazil stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (X% per year) and Cuba (X% per year).

Export Prices by Country

The average cereal flour export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereal flour export price increased by X% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Brazil ($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 Venezuela (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cereal Flour Imports

Imports into Uruguay

In 2022, supplies from abroad of cereal flours decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, continue to indicate a pronounced expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, cereal flour imports rose sharply to $X in 2022. In general, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of cereal flour to Uruguay, with a X% share of total imports. Moreover, cereal flour imports from Argentina exceeded the figures recorded by the second-largest supplier, Italy (X tons), ninefold. The third position in this ranking was held by the United States (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the United States (X% per year).

In value terms, Argentina ($X) constituted the largest supplier of cereal flours to Uruguay, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with an X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Argentina totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the United States (X% per year).

Import Prices by Country

The average cereal flour import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per ton) and the United States ($X per ton), while the price for Chile ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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