Uruguay: Malt Market 2024

Malt Market Size in Uruguay

The Uruguayan malt market was estimated at $X in 2022, almost unchanged from the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Malt Production in Uruguay

In value terms, malt production reached $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 23%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Malt Exports

Exports from Uruguay

In 2022, malt exports from Uruguay stood at X tons, approximately reflecting 2021. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -0.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 41% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, malt exports totaled $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for malt exports from Uruguay, with a 78% share of total exports. Moreover, malt exports to Brazil exceeded the volume sent to the second major destination, Belgium (X tons), sevenfold. Paraguay (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Paraguay (+69.6% per year).

In value terms, Brazil ($X) remains the key foreign market for malt exports from Uruguay, comprising 78% of total exports. The second position in the ranking was held by Belgium ($X), with a 10% share of total exports. It was followed by Paraguay, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to Brazil amounted to -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Paraguay (+67.2% per year).

Export Prices by Country

In 2022, the average malt export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2019 when the average export price decreased by less than 0.1% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Bolivia ($X per ton) and Paraguay ($X per ton), while the average price for exports to Belgium ($X per ton) and Brazil ($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 Paraguay (-1.5%), while the prices for the other major destinations experienced a decline.

Malt Imports

Imports into Uruguay

Malt imports into Uruguay was estimated at X tons in 2022, remaining stable against the year before. In general, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 60% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, malt imports stood at $X in 2022. Over the period under review, imports recorded a strong expansion. The growth pace was the most rapid in 2017 when imports increased by 68% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of malt to Uruguay, with a 82% share of total imports. Moreover, malt imports from Argentina exceeded the figures recorded by the second-largest supplier, Belgium (X tons), eightfold. The third position in this ranking was taken by Germany (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+112.4% per year) and Germany (+42.6% per year).

In value terms, Argentina ($X) constituted the largest supplier of malt to Uruguay, comprising 74% of total imports. The second position in the ranking was held by Belgium ($X), with a 14% share of total imports. It was followed by Germany, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+96.5% per year) and Germany (+43.7% per year).

Import Prices by Country

The average malt import price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2014 an increase of 13% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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