Uruguay: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in Uruguay

The Uruguayan market for powdered, evaporated and condensed milk surged to $X in 2022, jumping by X% against the previous year. Overall, consumption posted prominent growth. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Powdered, Evaporated And Condensed Milk in Uruguay

In value terms, powdered, evaporated and condensed milk production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Exports of Powdered, Evaporated And Condensed Milk

Exports from Uruguay

After two years of growth, shipments abroad of powdered, evaporated and condensed milk decreased by X% to X tons in 2022. In general, total exports indicated resilient 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, exports decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, powdered, evaporated and condensed milk exports expanded notably to $X in 2022. Overall, total exports indicated prominent 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 2015 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Algeria (X tons), Brazil (X tons) and China (X tons) were the main destinations of powdered, evaporated and condensed milk exports from Uruguay, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Algeria ($X), Brazil ($X) and China ($X) constituted the largest markets for powdered, evaporated and condensed milk exported from Uruguay worldwide, together accounting for X% of total exports.

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

Export Prices by Country

In 2022, the average export price for powdered, evaporated and condensed milk amounted to $X per ton, picking up by X% against the previous year. Overall, the export price saw a slight expansion. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Nigeria ($X per ton) and Brazil ($X per ton), while the average price for exports to Egypt ($X per ton) and Cuba ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Evaporated And Condensed Milk

Imports into Uruguay

In 2022, purchases abroad of powdered, evaporated and condensed milk decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, showed a mild increase. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted rapidly in the following year.

In value terms, powdered, evaporated and condensed milk imports reduced sharply to $X in 2022. Overall, imports, however, showed noticeable growth. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then fell remarkably in the following year.

Imports by Country

In 2022, Argentina (X tons) was the main powdered, evaporated and condensed milk supplier to Uruguay, accounting for a X% share of total imports. Moreover, powdered, evaporated and condensed milk imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and France (X% per year).

In value terms, Argentina ($X) constituted the largest supplier of powdered, evaporated and condensed milk to Uruguay, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and France (X% per year).

Import Prices by Country

The average import price for powdered, evaporated and condensed milk stood at $X per ton in 2022, picking up by X% against the previous year. In general, import price indicated modest growth 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, powdered, evaporated and condensed milk import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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