Latin America and the Caribbean: Dairy Produce Market 2024

Dairy Produce Market Size in Latin America and the Caribbean

The Latin American dairy produce market expanded to $X in 2023, rising by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Dairy Produce Production in Latin America and the Caribbean

In value terms, dairy produce production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Dairy Produce Exports

Exports in Latin America and the Caribbean

Dairy produce exports contracted to X tons in 2023, shrinking by X% on 2022 figures. Overall, exports showed a mild downturn. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, dairy produce exports contracted to $X in 2023. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X tons) and Uruguay (X tons) were the major exporters of dairy produce in 2023, accounting for near X% and X% of total exports, respectively. Nicaragua (X tons) held the next position in the ranking, followed by Costa Rica (X tons) and Chile (X tons). All these countries together took near X% share of total exports. Mexico (X tons), Honduras (X tons), Brazil (X tons), Peru (X tons), Paraguay (X tons) and El Salvador (X tons) took a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Paraguay (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Uruguay ($X) and Nicaragua ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of total exports. Chile, Mexico, Costa Rica, Brazil, Paraguay, El Salvador, Peru and Honduras lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Paraguay, with a CAGR of X%, saw the highest rates of growth with regard to 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

The export price in Latin America and the Caribbean stood at $X per ton in 2023, remaining stable against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Dairy Produce Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of dairy produce increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in the near future.

In value terms, dairy produce imports stood at $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, imports attained the maximum in 2023 and are expected to retain growth in the near future.

Imports by Country

In 2023, Mexico (X tons) and Brazil (X tons) represented the largest importers of dairy produce in Latin America and the Caribbean, together generating X% of total imports. It was distantly followed by Guatemala (X tons), the Dominican Republic (X tons), El Salvador (X tons), Chile (X tons) and Peru (X tons), together comprising a X% share of total imports. The following importers - Colombia (X tons), Venezuela (X tons), Cuba (X tons), Trinidad and Tobago (X tons), Honduras (X tons) and Panama (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Panama (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and the Dominican Republic ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Chile, El Salvador, Peru, Guatemala, Colombia, Cuba, Venezuela, Panama, Trinidad and Tobago and Honduras lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Panama, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, reducing by X% against the previous year. Overall, the import price, however, recorded a modest increase. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then reduced modestly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Panama (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform