Latin America and the Caribbean: Skim Milk Market 2024

Skim Milk Market Size in Latin America and the Caribbean

The Latin American skim milk market dropped to $X in 2023, declining by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market failed to regain momentum.

Skim Milk Production in Latin America and the Caribbean

In value terms, skim milk production fell to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2023, production growth failed to regain momentum.

Brazil (X tons) remains the largest skim milk producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, skim milk production in Brazil exceeded the figures recorded by the second-largest producer, Argentina (X tons), threefold. Chile (X tons) ranked third in terms of total production with an X% share.

In Brazil, skim milk production increased at an average annual rate of X% over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Argentina (X% per year) and Chile (X% per year).

Skim Milk Exports

Exports in Latin America and the Caribbean

In 2023, approx. X tons of skim milk were exported in Latin America and the Caribbean; growing by X% on the previous year. In general, exports, however, saw a pronounced reduction. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, skim milk exports expanded notably to $X in 2023. Overall, exports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Costa Rica was the major exporting country with an export of about X tons, which recorded X% of total exports. Argentina (X tons) took the second position in the ranking, distantly followed by Brazil (X tons) and Honduras (X tons). All these countries together took near X% share of total exports. The following exporters - Nicaragua (X tons) and Trinidad and Tobago (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to skim milk exports from Costa Rica stood at X%. At the same time, Brazil (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Trinidad and Tobago (X%), Honduras (X%) and Nicaragua (X%) illustrated a downward trend over the same period. While the share of Costa Rica (X p.p.), Argentina (X p.p.) and Brazil (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Honduras (X p.p.) and Nicaragua (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Costa Rica ($X) remains the largest skim milk supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports. It was followed by Brazil, with an X% share.

In Costa Rica, skim milk exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Brazil (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Trinidad and Tobago ($X per ton) and Nicaragua ($X per ton), while Brazil ($X per ton) and Honduras ($X per ton) were amongst the lowest.

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

Skim Milk Imports

Imports in Latin America and the Caribbean

In 2023, overseas purchases of skim milk decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, skim milk imports rose markedly to $X in 2023. Over the period under review, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Guatemala (X tons), Chile (X tons) and El Salvador (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Honduras (X tons), Uruguay (X tons), the Dominican Republic (X tons) and Nicaragua (X tons), together comprising a X% share of total imports.

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

In value terms, Guatemala ($X), El Salvador ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. Honduras, the Dominican Republic, Nicaragua and Uruguay lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Uruguay, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was El Salvador ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform