Chile: Preserved Sweet Corn Market 2023

Preserved Sweet Corn Market Size in Chile

The Chilean preserved sweet corn market expanded remarkably to $X in 2021, picking up by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a significant increase. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in years to come.

Preserved Sweet Corn Exports

Exports from Chile

In 2021, overseas shipments of sweet corn prepared or preserved decreased by -73.2% to X tons, falling for the third consecutive year after two years of growth. Overall, exports recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 759% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved sweet corn exports declined markedly to $X in 2021. Over the period under review, exports saw a sharp reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 586% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for preserved sweet corn exports from Chile, accounting for a 90% share of total exports. Moreover, preserved sweet corn exports to Malaysia exceeded the volume sent to the second major destination, Bolivia (X kg), more than tenfold. Venezuela (X kg) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia amounted to -23.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+8.2% per year) and Venezuela (-37.4% per year).

In value terms, Malaysia ($X) remains the key foreign market for preserved sweet corn exports from Chile, comprising 95% of total exports. The second position in the ranking was held by Bolivia ($X), with a 1.9% share of total exports. It was followed by Venezuela, with a 1% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to -27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-7.1% per year) and Venezuela (-42.4% per year).

Export Prices by Country

In 2021, the average preserved sweet corn export price amounted to $X per ton, rising by 34% against the previous year. Over the period under review, the export price, however, saw a perceptible contraction. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Bolivia ($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 Malaysia (-4.8%), while the prices for the other major destinations experienced a decline.

Preserved Sweet Corn Imports

Imports into Chile

In 2021, approx. X tons of sweet corn prepared or preserved were imported into Chile; increasing by 6.8% against 2020. In general, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 292% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, preserved sweet corn imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 152%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Paraguay (X tons) constituted the largest preserved sweet corn supplier to Chile, accounting for a 56% share of total imports. Moreover, preserved sweet corn imports from Paraguay exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Paraguay totaled -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+85.3% per year) and Thailand (+0.2% per year).

In value terms, the largest preserved sweet corn suppliers to Chile were Paraguay ($X), Mexico ($X) and Thailand ($X), with a combined 81% share of total imports.

In terms of the main suppliers, Mexico, with a CAGR of +85.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average preserved sweet corn import price stood at $X per ton in 2021, surging by 16% against the previous year. Overall, the import price, however, saw a deep contraction. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 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 Thailand ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+68.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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