Puerto Rico: Market for Lucerne (Alfalfa) Meal And Pellets 2022

Market Size for Lucerne (Alfalfa) Meal And Pellets in Puerto Rico

The Puerto Rican lucerne meal and pellets market amounted to less than $X in 2021, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports by Country

Spain was the major exporting country with an export of around X tons, which amounted to 30% of total exports. Italy (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by the United States (9.8%), South Africa (9.1%), France (7.3%), Canada (5.3%), Oman (5.1%), Sudan (3.1%) and Australia (1.9%). South Sudan (X tons) and the Netherlands (X tons) took a relatively small share of total exports.

Exports from Spain decreased at an average annual rate of -1.3% from 2012 to 2021. At the same time, South Africa (+23.5%), Oman (+11.1%) and Canada (+1.5%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.5% from 2012-2021. By contrast, France (-3.0%), the United States (-4.3%), Italy (-5.0%), the Netherlands (-7.2%), Sudan (-8.8%), Australia (-9.8%) and South Sudan (-10.4%) illustrated a downward trend over the same period. While the share of South Africa (+7.9 p.p.), Oman (+3.3 p.p.) and South Sudan (+2.9 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Australia (-2.4 p.p.), Sudan (-3.4 p.p.), the United States (-3.5 p.p.) and Italy (-6.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest lucerne meal and pellets supplier from Puerto Rico, comprising 26% of global exports. The second position in the ranking was taken by Italy ($X), with a 13% share of global exports. It was followed by South Africa, with an 11% share.

In Spain, lucerne meal and pellets exports decreased by an average annual rate of -2.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (-6.3% per year) and South Africa (+25.7% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, remaining constant against the previous year. Overall, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Sudan ($X per ton), while South Sudan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sudan (+8.5%), while the other leaders experienced more modest paces of growth.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports by Country

The United Arab Emirates represented the largest importer of lucerne (alfalfa) meal and pellets in the world, with the volume of imports reaching X tons, which was approx. 39% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), generating a 13% share of total imports. Japan (X tons), Germany (X tons), France (X tons), the United States (X tons), Jordan (X tons), Belgium (X tons), Portugal (X tons), the UK (X tons), China (X tons), Qatar (X tons) and Greece (X tons) held a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +18.4% from 2012 to 2021. At the same time, China (+40.3%), Saudi Arabia (+39.6%), Qatar (+19.5%), Jordan (+16.7%), Greece (+10.2%), France (+9.5%), Portugal (+4.3%) and the UK (+1.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +40.3% from 2012-2021. Germany and the United States experienced a relatively flat trend pattern. By contrast, Belgium (-4.5%) and Japan (-11.8%) illustrated a downward trend over the same period. The United Arab Emirates (+24 p.p.), Saudi Arabia (+12 p.p.), China (+2.4 p.p.), Jordan (+1.7 p.p.) and Qatar (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while the UK, the United States, Germany, Belgium and Japan saw its share reduced by -1.5%, -2.3%, -2.5%, -4.8% and -18.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported lucerne (alfalfa) meal and pellets into Puerto Rico, comprising 37% of global imports. The second position in the ranking was held by Saudi Arabia ($X), with an 11% share of global imports. It was followed by Japan, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled +19.3%. In the other countries, the average annual rates were as follows: Saudi Arabia (+31.2% per year) and Japan (-9.5% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, approximately equating the previous year. In general, the import price continues to indicate a relatively flat trend pattern.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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