Latin America and the Caribbean: Ghee Market 2024

Ghee Market Size in Latin America and the Caribbean

The Latin American ghee market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ghee Production in Latin America and the Caribbean

In value terms, ghee production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production saw a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Mexico (X tons) remains the largest ghee producing country in Latin America and the Caribbean, accounting for X% of total volume. Moreover, ghee production in Mexico exceeded the figures recorded by the second-largest producer, Argentina (X tons), twofold. Chile (X tons) ranked third in terms of total production with an X% share.

In Mexico, ghee production expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Chile (X% per year).

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Ghee Exports

Exports in Latin America and the Caribbean

In 2022, after two years of decline, there was significant growth in overseas shipments of ghee, when their volume increased by X% to X tons. Overall, exports saw a temperate increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, ghee exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina represented the major exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Chile (X tons), achieving an X% share of total exports. The following exporters - Uruguay (X tons) and Mexico (X tons) - each finished at an X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ghee exports from Argentina stood at X%. At the same time, Chile (X%) and Uruguay (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Argentina and Chile increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) emerged as the largest ghee supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

In Argentina, ghee exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (X% per year) and Mexico (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Mexico ($X per ton) and Chile ($X per ton), while Argentina ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

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

Ghee Imports

Imports in Latin America and the Caribbean

In 2022, after two years of decline, there was significant growth in supplies from abroad of ghee, when their volume increased by X% to X tons. Overall, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, ghee imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X tons) and Peru (X tons) were the main importers of ghee in 2022, finishing at near X% and X% of total imports, respectively. Brazil (X tons) held the next position in the ranking, followed by Panama (X tons) and the Dominican Republic (X tons). All these countries together held near X% share of total imports. The following importers - Costa Rica (X tons) and Guatemala (X tons) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ghee importing markets in Latin America and the Caribbean were Mexico ($X), Peru ($X) and Brazil ($X), with a combined X% share of total imports. Panama, the Dominican Republic, Costa Rica and Guatemala lagged somewhat behind, together comprising a further X%.

Costa Rica, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Costa Rica ($X per ton) and the Dominican Republic ($X per ton), while Guatemala ($X per ton) and Panama ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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