MERCOSUR: Rum Market 2024

Rum Market Size in MERCOSUR

After three years of decline, the MERCOSUR rum market increased by X% to $X in 2023. Overall, consumption saw a noticeable reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Rum Production in MERCOSUR

In value terms, rum production rose modestly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Rum Exports

Exports in MERCOSUR

In 2023, overseas shipments of rum decreased by X% to X litres for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports attained the peak of X litres, and then declined in the following year.

In value terms, rum exports fell slightly to $X in 2023. In general, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then dropped modestly in the following year.

Exports by Country

Venezuela represented the major exporting country with an export of about X litres, which accounted for X% of total exports. It was distantly followed by Brazil (X litres) and Colombia (X litres), together generating a X% share of total exports. Peru (X litres) took a little 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 Peru (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X) remains the largest rum supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Venezuela totaled X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per litre, with an increase of X% against the previous year. Export price indicated a measured expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, rum export price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per litre in 2021; however, from 2022 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Venezuela ($X per litre), while Brazil ($X per litre) was amongst the lowest.

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

Rum Imports

Imports in MERCOSUR

Rum imports dropped to X litres in 2023, reducing by X% on the previous year's figure. Over the period under review, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked at X litres in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, rum imports declined slightly to $X in 2023. Overall, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of rum imports in 2023 were Chile (X litres), Peru (X litres) and Colombia (X litres), together reaching X% of total import. Paraguay (X litres) took the next position in the ranking, followed by Argentina (X litres) and Ecuador (X litres). All these countries together held approx. X% share of total imports. Suriname (X litres) held a minor share 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 Paraguay (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Peru ($X) and Colombia ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Argentina, Paraguay, Ecuador and Suriname lagged somewhat behind, together accounting for a further X%.

Paraguay, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries 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 MERCOSUR stood at $X per litre in 2023, growing by X% against the previous year. Overall, the import price, however, recorded a mild decrease. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per litre in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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 Chile ($X per litre), while Paraguay ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform