Uruguay: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Uruguay

In 2021, the Uruguayan waffle and wafer market increased by 5.4% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption showed a pronounced contraction. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Waffle And Wafer Exports

Exports from Uruguay

In 2021, the amount of waffles and wafers exported from Uruguay dropped to X tons, with a decrease of -6.5% against the previous year. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 44% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, waffle and wafer exports dropped to $X in 2021. Overall, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 123%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Paraguay (X tons), Argentina (X tons) and the United States (X tons) were the main destinations of waffle and wafer exports from Uruguay, with a combined 99% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of -3.1%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for waffle and wafer exported from Uruguay were Paraguay ($X), Argentina ($X) and the United States ($X), with a combined 98% share of total exports.

Among the main countries of destination, Paraguay, with a CAGR of +2.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average waffle and wafer export price amounted to $X per ton, with a decrease of -3.2% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, waffle and wafer export price decreased by -5.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 65%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Paraguay ($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 United States (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Waffle And Wafer Imports

Imports into Uruguay

In 2021, purchases abroad of waffles and wafers decreased by -4.4% to X tons, falling for the third year in a row after five years of growth. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 8.7% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, waffle and wafer imports rose sharply to $X in 2021. Over the period under review, imports recorded a perceptible contraction. The growth pace was the most rapid in 2017 with an increase of 15% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons) constituted the largest waffle and wafer supplier to Uruguay, with a 78% share of total imports. Moreover, waffle and wafer imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+4.0% per year) and Bolivia (-15.6% per year).

In value terms, Brazil ($X) constituted the largest supplier of waffles and wafers to Uruguay, comprising 69% of total imports. The second position in the ranking was held by Argentina ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil stood at -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+0.6% per year) and Bolivia (-16.4% per year).

Import Prices by Country

In 2021, the average waffle and wafer import price amounted to $X per ton, growing by 13% against the previous year. Over the period under review, the import price, however, saw a pronounced curtailment. The import price peaked at $X per ton in 2012; however, from 2013 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 Argentina ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :