Latin America and the Caribbean: Salt Market 2024

Salt Market Size in Latin America and the Caribbean

The Latin American salt market stood at $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Salt Production in Latin America and the Caribbean

In value terms, salt production soared to $X in 2022 estimated in export price. The total output value 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 recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

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Salt Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of salt and pure sodium chloride increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, salt exports soared to $X in 2022. In general, exports recorded a relatively flat trend pattern. 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 in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Chile (X tons) was the key exporter of salt and pure sodium chloride, committing X% of total exports. Brazil (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (X%). Bahamas (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to salt exports from Chile stood at X%. At the same time, Brazil (X%) and Bahamas (X%) displayed positive paces of growth. Moreover, Brazil 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. While the share of Chile (X p.p.), Brazil (X p.p.) and Bahamas (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in Chile amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bahamas ($X per ton), while Chile ($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 mixed trends in the export price figures.

Salt Imports

Imports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded growth in supplies from abroad of salt and pure sodium chloride, which increased by X% to X tons in 2022. Total imports indicated prominent growth from 2012 to 2022: its volume 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, salt imports soared to $X in 2022. In general, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil prevails in imports structure, recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Colombia (X tons), committing a X% share of total imports. Guatemala (X tons), Honduras (X tons), Argentina (X tons), Uruguay (X tons), Paraguay (X tons), Peru (X tons), the Dominican Republic (X tons) and Costa Rica (X tons) followed a long way behind the leaders.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Honduras (X%), the Dominican Republic (X%), Costa Rica (X%), Guatemala (X%), Colombia (X%), Peru (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Paraguay and Uruguay experienced a relatively flat trend pattern. Brazil (X p.p.) and Honduras (X p.p.) significantly strengthened its position in terms of the total imports, while Paraguay and Uruguay saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported salt and pure sodium chloride in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Guatemala, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Guatemala (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

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 Costa Rica ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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