Uruguay: Market for Glycosides And Vegetable Alkaloids 2024

Market Size for Glycosides And Vegetable Alkaloids in Uruguay

The Uruguayan glycosides and vegetable alkaloids market soared to $X in 2021, jumping by 87% 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). In general, consumption showed a strong increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Glycosides And Vegetable Alkaloids

Exports from Uruguay

In 2021, shipments abroad of glycosides and vegetable alkaloids was finally on the rise to reach X tons after two years of decline. Overall, exports posted a resilient increase. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, glycosides and vegetable alkaloids exports skyrocketed to $X in 2021. Over the period under review, exports posted a mild increase. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Free Zones (X kg) was the main destination for glycosides and vegetable alkaloids exports from Uruguay, with a 64% share of total exports. Moreover, glycosides and vegetable alkaloids exports to Free Zones exceeded the volume sent to the second major destination, Argentina (X kg), twofold.

From 2012 to 2021, the average annual growth rate of volume to Free Zones stood at +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+2.1% per year) and Venezuela (-56.6% per year).

In value terms, Argentina ($X) remains the key foreign market for glycosides and vegetable alkaloids exports from Uruguay, comprising 75% of total exports. The second position in the ranking was held by Free Zones ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Argentina totaled +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (-0.8% per year) and Venezuela (-42.1% per year).

Export Prices by Country

The average glycosides and vegetable alkaloids export price stood at $X per ton in 2021, dropping by -41.5% against the previous year. In general, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by 79%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Venezuela ($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 Venezuela (+33.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Glycosides And Vegetable Alkaloids

Imports into Uruguay

Glycosides and vegetable alkaloids imports into Uruguay surged to X tons in 2021, increasing by 76% against the year before. Over the period under review, imports showed a strong expansion. The growth pace was the most rapid in 2016 when imports increased by 128% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, glycosides and vegetable alkaloids imports soared to $X in 2021. Overall, imports showed a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 115%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glycosides and vegetable alkaloids to Uruguay, with a 54% share of total imports. Moreover, glycosides and vegetable alkaloids imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.8% per year) and Brazil (+23.1% per year).

In value terms, China ($X), India ($X) and Switzerland ($X) constituted the largest glycosides and vegetable alkaloids suppliers to Uruguay, with a combined 66% share of total imports.

Switzerland, with a CAGR of +24.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glycosides and vegetable alkaloids import price stood at $X per ton in 2021, with an increase of 13% against the previous year. In general, the import price, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2014 when the average import price increased by 23% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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