Latin America and the Caribbean: Dairy Produce Market 2024

Dairy Produce Market Size in Latin America and the Caribbean

The Latin American dairy produce market reached $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Dairy Produce Production in Latin America and the Caribbean

In value terms, dairy produce production reduced to $X in 2022 estimated in export price. In general, production, however, showed a pronounced downturn. The growth pace was the most rapid in 2015 when the production volume increased by X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

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Dairy Produce Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of dairy produce were exported in Latin America and the Caribbean; with an increase of X% on the previous year. Over the period under review, exports, however, recorded a slight slump. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy produce exports soared to $X in 2022. In general, exports saw a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X tons) and Uruguay (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Nicaragua (X tons), Costa Rica (X tons), Chile (X tons) and Mexico (X tons), together mixing up a X% share of total exports. Brazil (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Uruguay (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest dairy produce supplying countries in Latin America and the Caribbean were Argentina ($X), Uruguay ($X) and Nicaragua ($X), with a combined X% share of total exports.

Nicaragua, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Dairy Produce Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of dairy produce was finally on the rise to reach X tons after two years of decline. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, dairy produce imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons) represented the largest importer of dairy produce, constituting X% of total imports. Brazil (X tons) ranks second in terms of the total imports with a X% share, followed by the Dominican Republic (X%), Guatemala (X%), Chile (X%), El Salvador (X%) and Peru (X%). Colombia (X tons), Cuba (X tons), Venezuela (X tons), Panama (X tons), Trinidad and Tobago (X tons) and Honduras (X tons) held a minor share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of dairy produce. At the same time, Panama (X%), Colombia (X%), the Dominican Republic (X%), Chile (X%), El Salvador (X%), Guatemala (X%), Honduras (X%), Cuba (X%) and Peru (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Trinidad and Tobago and Brazil experienced a relatively flat trend pattern. By contrast, Venezuela (X%) illustrated a downward trend over the same period. The Dominican Republic (X p.p.), Chile (X p.p.), Guatemala (X p.p.), Colombia (X p.p.), El Salvador (X p.p.) and Panama (X p.p.) significantly strengthened its position in terms of the total imports, while Venezuela saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported dairy produce in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with an X% share of total imports. It was followed by the Dominican Republic, with a X% share.

In Mexico, dairy produce imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Panama ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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