Uruguay: Sorghum Market 2024

Sorghum Market Size in Uruguay

The Uruguayan sorghum market reduced modestly to $X in 2022, falling by -2.2% against the previous year. Over the period under review, consumption showed a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sorghum Production in Uruguay

In value terms, sorghum production declined to $X in 2022 estimated in export price. In general, production showed a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 155%. Sorghum production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average sorghum yield in Uruguay totaled X tons per ha, growing by 5.7% on 2021 figures. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 72%. The sorghum yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sorghum harvested area in Uruguay reduced to X ha in 2022, waning by -10.3% on the year before. Overall, the harvested area saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 54%. The sorghum harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Sorghum Exports

Exports from Uruguay

In 2022, after two years of growth, there was significant decline in overseas shipments of sorghum, when their volume decreased by -96.8% to X tons. Over the period under review, exports recorded a sharp curtailment. The growth pace was the most rapid in 2021 with an increase of 256%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sorghum exports contracted remarkably to $X in 2022. In general, exports showed a significant curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 379% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X tons) was the main destination for sorghum exports from Uruguay, with a 87% share of total exports. Moreover, sorghum exports to Argentina exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. France (X tons) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina amounted to +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-38.8% per year) and France (-19.9% per year).

In value terms, Argentina ($X) emerged as the key foreign market for sorghum exports from Uruguay, comprising 64% of total exports. The second position in the ranking was taken by France ($X), with an 18% share of total exports. It was followed by Bolivia, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina totaled +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-10.1% per year) and Bolivia (+7.6% per year).

Export Prices by Country

In 2022, the average sorghum export price amounted to $X per ton, with an increase of 565% against the previous year. Overall, the export price saw significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+115.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sorghum Imports

Imports into Uruguay

In 2022, after two years of decline, there was significant growth in purchases abroad of sorghum, when their volume increased by 59% to X tons. In general, imports showed measured growth. The most prominent rate of growth was recorded in 2013 with an increase of 109%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, sorghum imports surged to $X in 2022. Overall, imports, however, continue to indicate a pronounced decrease. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Argentina (X tons), Paraguay (X tons) and the United States (X tons) were the main suppliers of sorghum imports to Uruguay, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +45.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest sorghum suppliers to Uruguay were Argentina ($X), Paraguay ($X) and the United States ($X), with a combined 98% share of total imports.

In terms of the main suppliers, the United States, with a CAGR of +40.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average sorghum import price stood at $X per ton in 2022, increasing by 1.7% against the previous year. In general, the import price, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 an increase of 39% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for the United States ($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 United States (-3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :