Uruguay: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Uruguay

The Uruguayan wheat and meslin flour market stood at $X in 2022, approximately equating the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 -0.6% against 2020 indices. Wheat and meslin flour consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Wheat and Meslin Flour in Uruguay

In value terms, wheat and meslin flour production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 13% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Wheat and Meslin Flour

Exports from Uruguay

In 2022, shipments abroad of wheat and meslin flour was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a deep setback. The pace of growth was the most pronounced in 2019 when exports increased by 79%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, wheat and meslin flour exports surged to $X in 2022. Overall, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2019 when exports increased by 71%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) was the main destination for wheat and meslin flour exports from Uruguay, with a 92% share of total exports. Moreover, wheat and meslin flour exports to Brazil exceeded the volume sent to the second major destination, Venezuela (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil stood at -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-0.4% per year) and Cuba (0.0% per year).

In value terms, Brazil ($X) remains the key foreign market for wheat and meslin flour exports from Uruguay, comprising 91% of total exports. The second position in the ranking was held by Venezuela ($X), with a 6.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Brazil stood at -9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+7.5% per year) and Cuba (0.0% per year).

Export Prices by Country

The average wheat and meslin flour export price stood at $X per ton in 2022, increasing by 36% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour export price increased by +44.8% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Brazil ($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 Venezuela (+7.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wheat and Meslin Flour

Imports into Uruguay

In 2022, purchases abroad of wheat and meslin flour decreased by -19.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, posted a notable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 184%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, wheat and meslin flour imports expanded sharply to $X in 2022. In general, imports, however, showed a tangible expansion. The growth pace was the most rapid in 2014 when imports increased by 114%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of wheat and meslin flour to Uruguay, with a 88% share of total imports. Moreover, wheat and meslin flour imports from Argentina exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Argentina stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+99.3% per year) and France (+2.1% per year).

In value terms, Argentina ($X) constituted the largest supplier of wheat and meslin flour to Uruguay, comprising 86% of total imports. The second position in the ranking was held by Italy ($X), with a 9.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Argentina totaled +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+101.9% per year) and France (+1.5% per year).

Import Prices by Country

In 2022, the average wheat and meslin flour import price amounted to $X per ton, rising by 35% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour import price increased by +34.2% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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