Latin America and the Caribbean: Cereal Grains Market 2022

Cereal Grains Market Size in Latin America and the Caribbean

In 2020, the Latin American cereal grains market increased by X% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2011 when the market value increased by X% y-o-y. The level of consumption peaked in 2020 and is expected to retain growth in the near future.

Cereal Grains Production in Latin America and the Caribbean

In value terms, cereal grains production rose sharply to $X in 2020 estimated in export prices. The total production indicated moderate growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Over the period under review, production reached the peak level in 2020 and is expected to retain growth in years to come.

Production By Country in Latin America and the Caribbean

Brazil (X tonnes) remains the largest cereal grains producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, cereal grains production in Brazil exceeded the figures recorded by the second-largest producer, Mexico (X tonnes), twofold. Argentina (X tonnes) ranked third in terms of total production with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume in Brazil totaled +X%. The remaining producing countries recorded the following average annual rates of production growth: Mexico (+X% per year) and Argentina (+X% per year).

Cereal Grains Exports

Exports in Latin America and the Caribbean

Cereal grains exports surged to X tonnes in 2020, growing by X% on 2019. Overall, exports recorded a strong expansion. As a result, exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cereal grains exports skyrocketed to $X in 2020. In general, exports enjoyed buoyant growth. As a result, exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Chile represented the major exporter of cereal grains in Latin America and the Caribbean, with the volume of exports accounting for X tonnes, which was near X% of total exports in 2020. Argentina (X tonnes) occupied a X% share (based on tonnes) of total exports, which put it in second place, followed by Brazil (X%).

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Chile, while exports for the other leaders experienced mixed trends in the exports figures.

In value terms, Chile ($X) remains the largest cereal grains supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was occupied by Argentina ($X), with a X% share of total exports.

In Chile, cereal grains exports expanded at an average annual rate of +X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Argentina (-X% per year) and Brazil (+X% per year).

Export Prices by Country

In 2020, the cereal grains export price in Latin America and the Caribbean amounted to $X per tonne, declining by -X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% y-o-y. The level of export peaked at $X per tonne in 2017; however, from 2018 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Chile ($X per tonne), while Argentina ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Brazil, while the other leaders experienced mixed trends in the export price figures.

Cereal Grains Imports

Imports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded growth in overseas purchases of cereal grains, which increased by X% to X tonnes in 2020. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cereal grains imports skyrocketed to $X in 2020. Total imports indicated resilient growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2020, Mexico (X tonnes) represented the main importer of cereal grains, generating X% of total imports. Colombia (X tonnes) ranks second in terms of the total imports with a X% share, followed by Uruguay (X%), Chile (X%), Guatemala (X%), Peru (X%) and Ecuador (X%).

From 2007 to 2020, average annual rates of growth with regard to cereal grains imports into Mexico stood at -X%. At the same time, Uruguay (+X%), Peru (+X%), Colombia (+X%), Ecuador (+X%) and Guatemala (+X%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. Chile experienced a relatively flat trend pattern. Colombia (+X p.p.), Uruguay (+X p.p.), Peru (+X p.p.) and Ecuador (+X p.p.) significantly strengthened its position in terms of the total imports, while Chile and Mexico saw its share reduced by -X% and -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported cereal grains in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was occupied by Colombia ($X), with a X% share of total imports. It was followed by Uruguay, with a X% share.

In Mexico, cereal grains imports increased at an average annual rate of +X% over the period from 2007-2020. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (+X% per year) and Uruguay (+X% per year).

Import Prices by Country

In 2020, the cereal grains import price in Latin America and the Caribbean amounted to $X per tonne, rising by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2012 when the import price increased by X% year-to-year. The level of import peaked in 2020 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Ecuador ($X per tonne), while Chile ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform