Uruguay: Market for Nuts (Prepared Or Preserved) 2024

Market Size for Nuts (Prepared Or Preserved) in Uruguay

In 2021, the Uruguayan nuts (prepared or preserved) market increased by 24% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Nuts (Prepared Or Preserved) in Uruguay

In value terms, nuts (prepared or preserved) production contracted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 25%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Nuts (Prepared Or Preserved)

Exports from Uruguay

In 2021, shipments abroad of nuts (prepared or preserved) decreased by -46.6% to X tons, falling for the third year in a row after two years of growth. In general, exports, however, posted a moderate increase. The growth pace was the most rapid in 2018 when exports increased by 527%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, nuts (prepared or preserved) exports contracted sharply to $X in 2021. Overall, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2018 when exports increased by 527% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Brazil (X tons) was the main destination for nuts (prepared or preserved) exports from Uruguay, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Brazil totaled +3.9%.

In value terms, Brazil ($X) also remains the key foreign market for nuts (prepared or preserved) exports from Uruguay.

From 2012 to 2021, the average annual rate of growth in terms of value to Brazil stood at +12.3%.

Export Prices by Country

In 2021, the average nuts (prepared or preserved) export price amounted to $X per ton, growing by 26% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nuts (prepared or preserved) export price increased by +53.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 62%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the rate of growth in terms of prices for Brazil amounted to +8.1% per year.

Imports of Nuts (Prepared Or Preserved)

Imports into Uruguay

In 2021, purchases abroad of nuts (prepared or preserved) was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of 67% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, nuts (prepared or preserved) imports surged to $X in 2021. Overall, imports saw resilient growth. The growth pace was the most rapid in 2017 when imports increased by 59%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest nuts (prepared or preserved) supplier to Uruguay, with a 68% share of total imports. Moreover, nuts (prepared or preserved) imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), sevenfold. The third position in this ranking was taken by the United States (X tons), with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+2.7% per year) and the United States (+45.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of nuts (prepared or preserved) to Uruguay, comprising 66% of total imports. The second position in the ranking was taken by Argentina ($X), with an 8.8% share of total imports. It was followed by the United States, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil amounted to +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+8.4% per year) and the United States (+38.2% per year).

Import Prices by Country

The average nuts (prepared or preserved) import price stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the import price, however, saw a mild downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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