Uruguay: Dry Vegetable Market 2024

Dry Vegetable Market Size in Uruguay

In 2022, after three years of growth, there was significant decline in the Uruguayan dry vegetable market, when its value decreased by -5.5% to $X. In general, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +60.2% against 2018 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Dry Vegetable Exports

Exports from Uruguay

In 2022, exports of dry vegetables from Uruguay plummeted to X tons, dropping by -31% against 2021 figures. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 293% against the previous year. The exports peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, dry vegetable exports shrank markedly to $X in 2022. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 211%. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

Argentina (X tons) was the main destination for dry vegetable exports from Uruguay, with a 64% share of total exports. Moreover, dry vegetable exports to Argentina exceeded the volume sent to the second major destination, Paraguay (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Argentina amounted to +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+33.0% per year) and the United States (+0.9% per year).

In value terms, the largest markets for dry vegetable exported from Uruguay were Paraguay ($X), Argentina ($X) and the United States ($X), together accounting for 99.9% of total exports.

In terms of the main countries of destination, Paraguay, with a CAGR of +78.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average dry vegetable export price stood at $X per ton in 2022, dropping by -1.9% against the previous year. In general, the export price recorded a perceptible slump. The growth pace was the most rapid in 2019 when the average export price increased by 101%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Argentina ($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 Paraguay (+34.0%), while the prices for the other major destinations experienced more modest paces of growth.

Dry Vegetable Imports

Imports into Uruguay

In 2022, after three years of growth, there was significant decline in overseas purchases of dry vegetables, when their volume decreased by -14.4% to X tons. Overall, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.2% 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 +53.6% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, dry vegetable imports reduced slightly to $X in 2022. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +62.3% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 56% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

China (X tons), the United States (X tons) and Egypt (X tons) were the main suppliers of dry vegetable imports to Uruguay, with a combined 93% share of total imports. Argentina and India lagged somewhat behind, together comprising a further 5.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +11.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dry vegetable suppliers to Uruguay were the United States ($X), China ($X) and Egypt ($X), with a combined 90% share of total imports. Argentina and India lagged somewhat behind, together accounting for a further 7.5%.

In terms of the main suppliers, India, with a CAGR of +15.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average dry vegetable import price stood at $X per ton in 2022, growing by 14% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 15%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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