Uruguay: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Uruguay

The Uruguayan market for condensed or evaporated milk (unsweetened) reduced sharply to $X in 2021, which is down by -35.4% against the previous year. Overall, consumption continues to indicate a noticeable decrease. Unsweetened condensed and evaporated milk consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Condensed Or Evaporated Milk (Unsweetened) in Uruguay

In value terms, unsweetened condensed and evaporated milk production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 51%. Unsweetened condensed and evaporated milk production peaked at $X in 2020, and then dropped in the following year.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Uruguay

In 2021, overseas shipments of condensed or evaporated milk (unsweetened) increased by 33% to X tons, rising for the third year in a row after four years of decline. In general, exports saw a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 4,209% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk exports surged to $X in 2021. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 3,854%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Zambia (X tons) was the main destination for unsweetened condensed and evaporated milk exports from Uruguay, accounting for a 55% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to Zambia exceeded the volume sent to the second major destination, Saint Lucia (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Zambia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saint Lucia (-0.5% per year) and Saudi Arabia (0.0% per year).

In value terms, Zambia ($X) emerged as the key foreign market for condensed or evaporated milk (unsweetened) exports from Uruguay, comprising 56% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Zambia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (0.0% per year) and Saint Lucia (+11.9% per year).

Export Prices by Country

In 2021, the average export price for condensed or evaporated milk (unsweetened) amounted to $X per ton, growing by 12% against the previous year. In general, the export price continues to indicate a prominent expansion. The growth pace was the most rapid in 2016 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

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 Saudi Arabia ($X per ton), while the average price for exports to Saint Lucia ($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 Saint Lucia (+12.4%).

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Uruguay

In 2021, overseas purchases of condensed or evaporated milk (unsweetened) increased by 5.9% to X tons, rising for the third year in a row after five years of decline. In general, imports, however, recorded a noticeable downturn. The pace of growth was the most pronounced in 2013 when imports increased by 522% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk imports rose remarkably to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 414% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Chile (X tons), the Netherlands (X tons) and Germany (X kg) were the main suppliers of unsweetened condensed and evaporated milk imports to Uruguay.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +10.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Chile ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Uruguay, comprising 68% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 31% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+10.8% per year) and Germany (-34.4% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, growing by 5.9% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsweetened condensed and evaporated milk import price increased by +64.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 46%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in years to come.

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 Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+50.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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