MERCOSUR: Market for Cereal Grain Products (Including Corn Flakes) 2024

Market Size for Cereal Grain Products (Including Corn Flakes) in MERCOSUR

The MERCOSUR market for cereal grain products (including corn flakes) amounted to $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value 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, consumption increased by X% against 2012 indices. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Production of Cereal Grain Products (Including Corn Flakes) in MERCOSUR

In value terms, corn flakes and cereal products production rose slightly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Cereal Grain Products (Including Corn Flakes)

Exports in MERCOSUR

In 2022, after three years of growth, there was decline in shipments abroad of cereal grain products (including corn flakes), when their volume decreased by X% to X tons. In general, exports, however, posted a temperate expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, corn flakes and cereal products exports totaled $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value 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, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Argentina represented the key exporter of cereal grain products (including corn flakes) in MERCOSUR, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Chile (X tons), generating 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 main exporting countries, was attained by Chile (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Argentina ($X) and Brazil ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

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

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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 Brazil ($X per ton), while Argentina ($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 a decline in the export price figures.

Imports of Cereal Grain Products (Including Corn Flakes)

Imports in MERCOSUR

After two years of growth, overseas purchases of cereal grain products (including corn flakes) decreased by X% to X tons in 2022. Overall, imports, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, corn flakes and cereal products imports expanded remarkably to $X in 2022. In general, imports, however, posted a modest expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Uruguay (X tons) represented the largest importer of cereal grain products (including corn flakes), achieving X% of total imports. Chile (X tons) took the second position in the ranking, distantly followed by Peru (X tons) and Colombia (X tons). All these countries together took approx. X% share of total imports. Ecuador (X tons) and Venezuela (X tons) held a minor share of total imports.

Uruguay was also the fastest-growing in terms of the cereal grain products (including corn flakes) imports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%) and Colombia (X%) displayed positive paces of growth. By contrast, Ecuador (X%), Chile (X%) and Venezuela (X%) illustrated a downward trend over the same period. Uruguay (X p.p.) significantly strengthened its position in terms of the total imports, while Ecuador, Venezuela and Chile saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest corn flakes and cereal products importing markets in MERCOSUR were Uruguay ($X), Chile ($X) and Peru ($X), together comprising X% of total imports.

Uruguay, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 MERCOSUR stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price, however, saw a noticeable decline. The pace of growth appeared the most rapid in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

Source: IndexBox Platform

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