Uruguay: Maize Market 2025

Maize Market Size in Uruguay

The Uruguayan maize market surged to $X in 2022, with an increase of 16% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +10.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Maize Production in Uruguay

In value terms, maize production reached $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 57%. Maize production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The average yield of maize in Uruguay totaled X tons per ha in 2022, increasing by 9.5% compared with the previous year. In general, the yield indicated moderate growth from 2012 to 2022: its figure increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize yield decreased by -22.5% against 2019 indices. The pace of growth was the most pronounced in 2019 when the yield increased by 76%. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2022, the growth of the average maize yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The maize harvested area in Uruguay declined to X ha in 2022, which is down by -9.1% against the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the harvested area increased by 50% against the previous year. Over the period under review, the harvested area dedicated to maize production attained the maximum at X ha in 2021, and then reduced in the following year.

Maize Exports

Exports from Uruguay

Maize exports from Uruguay declined dramatically to X tons in 2022, waning by -50.3% on 2021 figures. In general, exports showed a sharp downturn. The growth pace was the most rapid in 2019 when exports increased by 1,054%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports contracted remarkably to $X in 2022. Overall, exports recorded a sharp curtailment. The growth pace was the most rapid in 2019 with an increase of 584%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Chile (X tons) was the main destination for maize exports from Uruguay, accounting for a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Chile stood at -7.0%.

In value terms, Chile ($X) emerged as the key foreign market for maize exports from Uruguay.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile totaled -7.9%.

Export Prices by Country

The average maize export price stood at $X per ton in 2022, growing by 14% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 568%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for the Dominican Republic amounted to +11.6% per year.

Maize Imports

Imports into Uruguay

In 2022, after four years of decline, there was significant growth in purchases abroad of maize, when their volume increased by 102% to X tons. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 119% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, maize imports surged to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +52.4% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by 62% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Paraguay (X tons) constituted the largest supplier of maize to Uruguay, with a 73% share of total imports. Moreover, maize imports from Paraguay exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Paraguay stood at +10.5%.

In value terms, the largest maize suppliers to Uruguay were Paraguay ($X) and Argentina ($X).

In terms of the main suppliers, Paraguay, with a CAGR of +12.2%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average maize import price stood at $X per ton in 2022, waning by -27.8% against the previous year. Overall, the import price showed a pronounced shrinkage. The pace of growth was the most pronounced in 2021 when the average import price increased by 60%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+1.5%).

Source: IndexBox Platform

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