Uruguay: Peanut Butter Market 2022

Peanut Butter Market Size in Uruguay

In 2021, the Uruguayan peanut butter market decreased by -X% to $X, falling for the third year in a row after three years of growth. In general, consumption recorded a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Peanut Butter Imports

Imports into Uruguay

In 2021, overseas purchases of peanut butter and prepared or preserved groundnuts decreased by -X% to X tons, falling for the third consecutive year after seven years of growth. Overall, total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, peanut butter imports declined significantly to $X in 2021. Over the period under review, imports, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Argentina (X tons) constituted the largest peanut butter supplier to Uruguay, with a X% share of total imports. Moreover, peanut butter imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fivefold. Paraguay (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Argentina totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+X% per year) and Paraguay (-X% per year).

In value terms, Argentina ($X) constituted the largest supplier of peanut butter to Uruguay, comprising X% of total imports. The second position in the ranking was occupied by Brazil ($X), with a X% share of total imports. It was followed by Paraguay, with a X% share.

From 2012 to 2021, 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 Paraguay (-X% per year).

Import Prices by Country

In 2021, the average peanut butter import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform