Latin America and the Caribbean: Market for Uncooked Pasta (Not Containing Eggs) 2023

Market Size for Uncooked Pasta (Not Containing Eggs) in Latin America and the Caribbean

In 2021, after three years of growth, there was decline in the Latin American market for uncooked pasta (not containing eggs), when its value decreased by -0.8% to $X. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then contracted in the following year.

Production of Uncooked Pasta (Not Containing Eggs) in Latin America and the Caribbean

In value terms, uncooked pasta (not containing eggs) production stood at $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 5.5% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Uncooked Pasta (Not Containing Eggs)

Exports in Latin America and the Caribbean

In 2021, after two years of growth, there was significant decline in overseas shipments of uncooked pasta (not containing eggs), when their volume decreased by -23.1% to X tons. In general, exports showed a perceptible setback. The pace of growth was the most pronounced in 2017 with an increase of 88% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, uncooked pasta (not containing eggs) exports reduced rapidly to $X in 2021. Over the period under review, exports saw a deep contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 72% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Peru (X tons), Guatemala (X tons), Mexico (X tons), Argentina (X tons), Costa Rica (X tons) and Brazil (X tons), together amounting to 90% of total export. Chile (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Costa Rica (with a CAGR of +2.5%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Peru ($X) and Guatemala ($X) constituted the countries with the highest levels of exports in 2021, with a combined 58% share of total exports.

Costa Rica, with a CAGR of +3.7%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 8.7% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+1.7%), while the other leaders experienced more modest paces of growth.

Imports of Uncooked Pasta (Not Containing Eggs)

Imports in Latin America and the Caribbean

After two years of growth, supplies from abroad of uncooked pasta (not containing eggs) decreased by -11.6% to X tons in 2021. Overall, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of 85% against the previous year. The volume of import peaked at X tons in 2020, and then fell in the following year.

In value terms, uncooked pasta (not containing eggs) imports contracted to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +3.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 66%. Over the period under review, imports hit record highs at $X in 2020, and then declined in the following year.

Imports by Country

Venezuela was the largest importing country with an import of around X tons, which finished at 52% of total imports. Chile (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (5.4%). The following importers - Colombia (X tons), El Salvador (X tons), Honduras (X tons), Panama (X tons), Guatemala (X tons), Mexico (X tons) and the Dominican Republic (X tons) - together made up 18% of total imports.

From 2012 to 2021, average annual rates of growth with regard to uncooked pasta (not containing eggs) imports into Venezuela stood at +27.8%. At the same time, Panama (+146.9%), the Dominican Republic (+17.8%), Colombia (+15.1%), Chile (+7.3%) and El Salvador (+5.7%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +146.9% from 2012-2021. Brazil and Mexico experienced a relatively flat trend pattern. By contrast, Guatemala (-1.6%) and Honduras (-2.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Venezuela and Panama increased by +39 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Venezuela ($X) constitutes the largest market for imported uncooked pasta (not containing eggs) in Latin America and the Caribbean, comprising 35% of total imports. The second position in the ranking was taken by Chile ($X), with an 11% share of total imports. It was followed by Brazil, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Venezuela totaled +15.0%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+4.9% per year) and Brazil (+0.5% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 6.9% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible curtailment. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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