Argentina: Hop Market 2023

Hop Market Size in Argentina

The Argentinian hop market stood at $X in 2021, therefore, remained relatively stable against the previous year. Overall, consumption, however, continues to indicate a remarkable increase. Hop consumption peaked in 2021 and is likely to continue growth in the immediate term.

Hop Production in Argentina

In value terms, hop production stood at $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

In 2021, the average hop yield in Argentina contracted to X tons per ha, almost unchanged from the year before. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 0.3%. The hop yield peaked at X tons per ha in 2020, and then shrank slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The hop harvested area in Argentina stood at X ha in 2021, almost unchanged from 2020 figures. Over the period under review, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 2.4%. The hop harvested area peaked at X ha in 2016; however, from 2017 to 2021, the harvested area remained at a lower figure.

Hop Exports

Exports from Argentina

Hop exports from Argentina shrank rapidly to X tons in 2021, which is down by -46.6% on the year before. In general, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 157% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, hop exports dropped sharply to $X in 2021. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2015 when exports increased by 151% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X tons), Bolivia (X tons) and Brazil (X tons) were the main destinations of hop exports from Argentina, together accounting for 61% of total exports.

From 2012 to 2021, the biggest increases were in Bolivia (with a CAGR of +11.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bolivia ($X), Brazil ($X) and Paraguay ($X) appeared to be the largest markets for hop exported from Argentina worldwide, together comprising 62% of total exports.

Bolivia, with a CAGR of +10.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hop export price stood at $X per ton in 2021, declining by -6.2% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 11% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Bolivia ($X per ton), while the average price for exports to Peru ($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 Brazil (+10.7%), while the prices for the other major destinations experienced mixed trend patterns.

Hop Imports

Imports into Argentina

In 2021, approx. X tons of hops were imported into Argentina; reducing by -10.7% compared with the year before. Over the period under review, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 130%. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, hop imports reduced slightly to $X in 2021. Overall, imports, however, showed prominent growth. The growth pace was the most rapid in 2017 when imports increased by 115% against the previous year. Imports peaked at $X in 2020, and then declined slightly in the following year.

Imports by Country

In 2021, the United States (X tons) constituted the largest hop supplier to Argentina, accounting for a 87% share of total imports. Moreover, hop imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Australia (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.2% per year) and Australia (+3.3% per year).

In value terms, the United States ($X) constituted the largest supplier of hop to Argentina, comprising 86% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.5% share of total imports. It was followed by Australia, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.0% per year) and Australia (+18.2% per year).

Import Prices by Country

In 2021, the average hop import price amounted to $X per ton, rising by 11% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 an increase of 35% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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