Uruguay: Ghee Market 2025

Ghee Market Size in Uruguay

The Uruguayan ghee market declined markedly to $X in 2022, which is down by -53% against the previous year. In general, consumption saw a perceptible curtailment. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Ghee Production in Uruguay

In value terms, ghee production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a modest expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 52%. Ghee production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Ghee Exports

Exports from Uruguay

In 2022, the amount of ghee exported from Uruguay soared to X tons, with an increase of 499% compared with the previous year. Over the period under review, exports showed a notable expansion. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, ghee exports skyrocketed to $X in 2022. In general, exports posted strong growth. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for ghee exports from Uruguay, with a 61% share of total exports. Moreover, ghee exports to Brazil exceeded the volume sent to the second major destination, Algeria (X tons), threefold. Mexico (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (0.0% per year) and Mexico (+6.2% per year).

In value terms, Brazil ($X) emerged as the key foreign market for ghee exports from Uruguay, comprising 63% of total exports. The second position in the ranking was held by Algeria ($X), with a 20% share of total exports. It was followed by Mexico, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil amounted to +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (0.0% per year) and Mexico (+8.6% per year).

Export Prices by Country

The average ghee export price stood at $X per ton in 2022, with an increase of 30% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee export price increased by +41.1% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 53% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Mexico ($X per ton) and Brazil ($X per ton), while the average price for exports to Algeria ($X per ton) and Saudi Arabia ($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 Tunisia (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into Uruguay

After four years of decline, overseas purchases of ghee increased by 38% to X tons in 2022. Overall, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 710%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, ghee imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 474% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main ghee supplier to Uruguay, accounting for a 98% share of total imports. It was followed by Argentina (X kg), with a 2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -7.3%.

In value terms, the United States ($X) constituted the largest supplier of ghee to Uruguay, comprising 98% of total imports. The second position in the ranking was taken by Argentina ($X), with a 1.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest.

Import Prices by Country

The average ghee import price stood at $X per ton in 2022, shrinking by -3.5% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +56.3% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 37% against the previous year. The import price peaked at $X per ton in 2021, and then contracted modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :