Uruguay: Market for Raw Hides And Skins of Cattle 2024

Market Size for Raw Hides And Skins of Cattle in Uruguay

In 2021, the Uruguayan cattle hide and skin market increased by 4.6% to $X for the first time since 2016, thus ending a four-year declining trend. In general, consumption faced a deep setback. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Raw Hides And Skins of Cattle in Uruguay

In value terms, cattle hide and skin production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt setback. Cattle hide and skin production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

The average yield of raw hides and skins of cattle in Uruguay reduced to X kg per head in 2021, which is down by -14.6% compared with the previous year's figure. Overall, the yield recorded a mild downturn. The growth pace was the most rapid in 2019 when the yield increased by 3.9%. As a result, the yield reached the peak level of X kg per head. From 2020 to 2021, the growth of the average cattle hide and skin yield remained at a lower figure.

The number of animals slaughtered for cattle hide and skin production in Uruguay soared to X heads in 2021, growing by 31% against 2020. This number increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the number of producing animals reached the peak level and is likely to continue growth in the immediate term.

Exports of Raw Hides And Skins of Cattle

Exports from Uruguay

In 2021, shipments abroad of raw hides and skins of cattle increased by 36% to X tons, rising for the fifth consecutive year after three years of decline. Over the period under review, exports saw a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by 214% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, cattle hide and skin exports soared to $X in 2021. Overall, exports continue to indicate a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil (X tons) was the main destination for cattle hide and skin exports from Uruguay, with a 60% share of total exports. Moreover, cattle hide and skin exports to Brazil exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Brazil amounted to +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+6.6% per year) and Thailand (+22.8% per year).

In value terms, Brazil ($X) remains the key foreign market for raw hides and skins of cattle exports from Uruguay, comprising 59% of total exports. The second position in the ranking was taken by China ($X), with a 17% share of total exports. It was followed by Thailand, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Brazil stood at +27.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-1.9% per year) and Thailand (+13.6% per year).

Export Prices by Country

The average cattle hide and skin export price stood at $X per ton in 2021, growing by 52% against the previous year. Over the period under review, the export price, however, recorded a deep setback. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Italy ($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 Paraguay (+39.9%), while the prices for the other major destinations experienced a decline.

Imports of Raw Hides And Skins of Cattle

Imports into Uruguay

In 2021, imports of raw hides and skins of cattle into Uruguay plummeted to X tons, with a decrease of -43.1% against 2020. Overall, imports recorded a abrupt contraction. The growth pace was the most rapid in 2016 when imports increased by 131% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, cattle hide and skin imports shrank remarkably to $X in 2021. In general, imports faced a dramatic shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 144% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X tons) was the main cattle hide and skin supplier to Uruguay, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil stood at +110.5%.

In value terms, Brazil ($X) constituted the largest supplier of raw hides and skins of cattle to Uruguay.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil totaled +97.7%.

Import Prices by Country

In 2021, the average cattle hide and skin import price amounted to $X per ton, surging by 13% against the previous year. Over the period under review, the import price, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2013 when the average import price increased by 23%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Ireland amounted to +42.3% per year.

Source: IndexBox Platform

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