Uruguay: Frozen Potato Market 2024

Frozen Potato Market Size in Uruguay

The Uruguayan frozen potato market expanded notably to $X in 2021, increasing by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Frozen Potato Exports

Exports from Uruguay

In 2021, shipments abroad of frozen potatoes decreased by -42.7% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2015 when exports increased by 124%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, frozen potato exports reduced dramatically to $X in 2021. In general, exports, however, saw prominent growth. The growth pace was the most rapid in 2015 with an increase of 124% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X tons) was the main destination for frozen potato exports from Uruguay, with a 99% share of total exports. It was followed by the UK (X kg), with a 0.8% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Chile totaled +23.8%.

In value terms, Chile ($X) remains the key foreign market for frozen potatoes exports from Uruguay, comprising 98% of total exports. The second position in the ranking was held by the UK ($X), with a 1.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Chile totaled +24.6%.

Export Prices by Country

In 2021, the average frozen potato export price amounted to $X per ton, increasing by 8.4% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 59%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Chile amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into Uruguay

Frozen potato imports into Uruguay expanded significantly to X tons in 2021, with an increase of 11% on 2020. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% 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 +79.2% against 2013 indices. The pace of growth was the most pronounced in 2014 when imports increased by 25% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, frozen potato imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 18% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Argentina (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of frozen potato imports to Uruguay, together comprising 60% of total imports. Brazil, France and Germany lagged somewhat behind, together accounting for a further 8%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +284.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen potato suppliers to Uruguay were Argentina ($X), Belgium ($X) and the Netherlands ($X), with a combined 62% share of total imports. These countries were followed by Brazil, Germany and France, which together accounted for a further 8.6%.

Among the main suppliers, Brazil, with a CAGR of +284.4%, recorded the highest rates of growth with regard to 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

In 2021, the average frozen potato import price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 18% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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