Uruguay: Fructose Market 2024

Fructose Market Size in Uruguay

In 2021, the Uruguayan fructose market increased by 4.9% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a abrupt decrease. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Fructose Exports

Exports from Uruguay

After four years of growth, shipments abroad of fructose and fructose syrup decreased by -26.2% to X tons in 2021. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2017 when exports increased by 223% against the previous year. The exports peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, fructose exports declined significantly to $X in 2021. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 346% against the previous year. The exports peaked at $X in 2020, and then shrank sharply in the following year.

Exports by Country

The United States (X tons), Ecuador (X tons) and Peru (X tons) were the main destinations of fructose exports from Uruguay, with a combined 81% share of total exports. These countries were followed by Bolivia, Argentina, Ireland, Paraguay, Canada and Colombia, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +125.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), the United States ($X) and Bolivia ($X) were the largest markets for fructose exported from Uruguay worldwide, together accounting for 81% of total exports. Ecuador, Ireland, Paraguay, Argentina, Colombia and Canada lagged somewhat behind, together comprising a further 16%.

In terms of the main countries of destination, Argentina, with a CAGR of +110.5%, 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

In 2021, the average fructose export price amounted to $X per ton, reducing by -16.2% against the previous year. Overall, the export price showed a slight reduction. The growth pace was the most rapid in 2014 when the average export price increased by 65% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then dropped markedly in the following year.

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 Bolivia ($X per ton), while the average price for exports to Argentina ($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 Colombia (+31.0%), while the prices for the other major destinations experienced mixed trend patterns.

Fructose Imports

Imports into Uruguay

In 2021, the amount of fructose and fructose syrup imported into Uruguay dropped modestly to X tons, stabilizing at the previous year's figure. In general, imports saw a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 15% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, fructose imports totaled $X in 2021. Overall, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2016 when imports increased by 32%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Argentina (X tons) constituted the largest supplier of fructose to Uruguay, accounting for a 30% share of total imports. Moreover, fructose imports from Argentina exceeded the figures recorded by the second-largest supplier, Australia (X tons), more than tenfold. The third position in this ranking was held by Brazil (X tons), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from Argentina totaled -22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+28.5% per year) and Brazil (-1.9% per year).

In value terms, Argentina ($X) constituted the largest supplier of fructose and fructose syrup to Uruguay, comprising 25% of total imports. The second position in the ranking was held by Australia ($X), with a 4.6% share of total imports. It was followed by Mexico, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Argentina stood at -19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+32.2% per year) and Mexico (-9.8% per year).

Import Prices by Country

In 2021, the average fructose import price amounted to $X per ton, picking up by 4.1% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 an increase of 30%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :