Chile: Wheat Market 2024

Wheat Market Size in Chile

The Chilean wheat market rose sharply to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption, however, continues to indicate a mild descent. Wheat consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Wheat Production in Chile

In value terms, wheat production skyrocketed to $X in 2022 estimated in export price. Overall, production recorded a abrupt descent. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The average yield of wheat in Chile reached X tons per ha in 2022, therefore, remained relatively stable against 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the yield increased by X%. Over the period under review, the average wheat yield reached the maximum level at X tons per ha in 2019; however, from 2020 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of wheat production in Chile dropped modestly to X ha, falling by X% compared with 2021 figures. Over the period under review, the harvested area continues to indicate a mild setback. The growth pace was the most rapid in 2021 when the harvested area increased by X%. The wheat harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area failed to regain momentum.

Wheat Exports

Exports from Chile

In 2022, the amount of wheat exported from Chile skyrocketed to X tons, picking up by X% against 2021 figures. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, wheat exports soared to $X in 2022. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Bolivia (X tons) was the main destination for wheat exports from Chile, accounting for a X% share of total exports. Moreover, wheat exports to Bolivia exceeded the volume sent to the second major destination, Paraguay (X tons), sevenfold. Peru (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Bolivia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (X% per year) and Peru (X% per year).

In value terms, the largest markets for wheat exported from Chile were Paraguay ($X), Bolivia ($X) and Canada ($X), together comprising X% of total exports. These countries were followed by Peru, which accounted for a further X%.

Peru, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

In 2022, the average wheat export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Bolivia ($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 Paraguay (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Imports

Imports into Chile

In 2022, purchases abroad of wheat was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, wheat imports skyrocketed to $X in 2022. Overall, imports posted resilient growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Canada (X tons), Argentina (X tons) and the United States (X tons) were the main suppliers of wheat imports to Chile, with a combined X% share of total imports. Uruguay and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of X.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat suppliers to Chile were Argentina ($X), Canada ($X) and the United States ($X), together accounting for X% of total imports. Uruguay and the Netherlands lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Netherlands, with a CAGR of X.0%, recorded the highest rates of growth with regard to 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

In 2022, the average wheat import price amounted to $X per ton, falling by X% against the previous year. In general, the import price, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Uruguay ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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