Uruguay: Peanut Butter Market 2025

Peanut Butter Market Size in Uruguay

The Uruguayan peanut butter market dropped to $X in 2022, with a decrease of -9.9% against the previous year. Overall, the total consumption indicated a measured expansion from 2012 to 2022: its value 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, consumption decreased by -11.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Peanut Butter Production in Uruguay

In value terms, peanut butter production declined to $X in 2022 estimated in export price. In general, production, however, showed a prominent expansion. The growth pace was the most rapid in 2013 when the production volume increased by 315%. Peanut butter production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Peanut Butter Exports

Exports from Uruguay

In 2022, approx. X kg of peanut butter and prepared or preserved groundnuts were exported from Uruguay; which is down by -68.1% compared with the year before. Over the period under review, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2020 when exports increased by 316% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, peanut butter exports declined notably to $X in 2022. In general, exports saw a pronounced decrease. The growth pace was the most rapid in 2020 when exports increased by 280% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Paraguay (X kg) was the main destination for peanut butter exports from Uruguay, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Paraguay totaled +5.4%.

In value terms, Paraguay ($X) also remains the key foreign market for peanut butter and prepared or preserved groundnuts exports from Uruguay.

From 2012 to 2022, the average annual rate of growth in terms of value to Paraguay totaled +10.3%.

Export Prices by Country

The average peanut butter export price stood at $X per ton in 2022, jumping by 57% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, peanut butter export price increased by +116.3% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Paraguay amounted to +4.7% per year.

Peanut Butter Imports

Imports into Uruguay

In 2022, the amount of peanut butter and prepared or preserved groundnuts imported into Uruguay fell to X tons, shrinking by -9.3% against the year before. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +3.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 14%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, peanut butter imports contracted to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 19%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of peanut butter to Uruguay, accounting for a 79% share of total imports. Moreover, peanut butter imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fivefold. Paraguay (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+4.2% per year) and Paraguay (+9.0% per year).

In value terms, Argentina ($X) constituted the largest supplier of peanut butter and prepared or preserved groundnuts to Uruguay, comprising 75% of total imports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total imports. It was followed by Paraguay, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from Argentina stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+2.6% per year) and Paraguay (+6.0% per year).

Import Prices by Country

The average peanut butter import price stood at $X per ton in 2022, leveling off at the previous year. Overall, the import price, however, saw a noticeable contraction. The growth pace was the most rapid in 2017 an increase of 8.9% against the previous year. 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 stood at a somewhat lower figure.

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 Germany (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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