Uruguay: Cheese And Curd Market 2024

Cheese And Curd Market Size in Uruguay

The Uruguayan cheese and curd market expanded notably to $X in 2022, picking up by 5.2% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cheese And Curd Production in Uruguay

In value terms, cheese and curd production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2017 when the production volume increased by 7.5% against the previous year. Cheese and curd production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cheese And Curd Exports

Exports from Uruguay

Cheese and curd exports from Uruguay declined to X tons in 2022, dropping by -8.6% against the year before. Overall, exports showed a deep slump. The pace of growth appeared the most rapid in 2021 when exports increased by 23% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cheese and curd exports expanded remarkably to $X in 2022. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 34% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons), Mexico (X tons) and Argentina (X tons) were the main destinations of cheese and curd exports from Uruguay, with a combined 58% share of total exports. Chile, Russia, Peru, Paraguay and Venezuela lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +43.5%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) were the largest markets for cheese and curd exported from Uruguay worldwide, together comprising 58% of total exports. Chile, Russia, Peru, Paraguay and Venezuela lagged somewhat behind, together accounting for a further 31%.

Russia, with a CAGR of +41.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, increasing by 16% against the previous year. Overall, the export price, however, showed a mild contraction. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Russia ($X per ton) and Venezuela ($X per ton), while the average price for exports to Paraguay ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+0.5%), while the prices for the other major destinations experienced mixed trend patterns.

Cheese And Curd Imports

Imports into Uruguay

Cheese and curd imports into Uruguay shrank modestly to X tons in 2022, declining by -3.7% against the previous year's figure. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 89%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, cheese and curd imports soared to $X in 2022. Overall, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 85%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Argentina (X tons) constituted the largest cheese and curd supplier to Uruguay, with a 82% share of total imports. Moreover, cheese and curd imports from Argentina exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), more than tenfold. The third position in this ranking was held by Brazil (X tons), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina amounted to +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+2.8% per year) and Brazil (+39.2% per year).

In value terms, Argentina ($X) constituted the largest supplier of cheese and curd to Uruguay, comprising 79% of total imports. The second position in the ranking was held by Brazil ($X), with a 5.6% share of total imports. It was followed by New Zealand, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina totaled +19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+38.8% per year) and New Zealand (+4.5% per year).

Import Prices by Country

In 2022, the average cheese and curd import price amounted to $X per ton, increasing by 21% 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.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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