Uruguay: Baking Soda Market 2024

Baking Soda Market Size in Uruguay

In 2021, the Uruguayan baking soda market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Baking Soda Exports

Exports from Uruguay

In 2021, approx. X tons of baking soda were exported from Uruguay; shrinking by -19.7% on the previous year. Over the period under review, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 490%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, baking soda exports fell dramatically to $X in 2021. In general, exports, however, recorded slight growth. The growth pace was the most rapid in 2016 with an increase of 410%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X tons) was the main destination for baking soda exports from Uruguay, accounting for a 88% share of total exports. Moreover, baking soda exports to the Dominican Republic exceeded the volume sent to the second major destination, Argentina (X kg), eightfold.

From 2012 to 2021, the average annual growth rate of volume to the Dominican Republic totaled +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-49.7% per year) and the UK (-17.2% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for baking soda exports from Uruguay, comprising 94% of total exports. The second position in the ranking was taken by the UK ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic stood at +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-21.1% per year) and Argentina (-81.2% per year).

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, with a decrease of -41.5% against the previous year. In general, the export price showed a pronounced decline. The pace of growth appeared the most rapid in 2016 when the average export price increased by 271% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Argentina ($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 the Dominican Republic (-1.9%), while the prices for the other major destinations experienced a decline.

Baking Soda Imports

Imports into Uruguay

In 2021, supplies from abroad of baking soda increased by 104% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, baking soda imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2015; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of baking soda to Uruguay, with a 39% share of total imports. Moreover, baking soda imports from Turkey exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +35.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+12.9% per year) and Italy (+6.7% per year).

In value terms, Turkey ($X) constituted the largest supplier of baking soda to Uruguay, comprising 27% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by Russia, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey stood at +35.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.7% per year) and Russia (+18.0% per year).

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, increasing by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2014 an increase of 14%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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