Latin America and the Caribbean: Sorghum Market 2024

Sorghum Market Size in Latin America and the Caribbean

In 2022, the Latin American sorghum market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sorghum Production in Latin America and the Caribbean

In value terms, sorghum production declined slightly to $X in 2022 estimated in export price. In general, production faced a deep slump. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Mexico (X tons), Brazil (X tons) and Argentina (X tons), together accounting for X% of total production. Bolivia lagged somewhat behind, comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Bolivia (with a CAGR of X%), while production for the other leaders experienced mixed trends in the production figures.

In 2022, the average yield of sorghum in Latin America and the Caribbean dropped slightly to X tons per ha, waning by X% against the previous year. Overall, the yield saw a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of sorghum in Latin America and the Caribbean reduced slightly to X ha, shrinking by X% compared with 2021 figures. Over the period under review, the harvested area continues to indicate a mild descent. The pace of growth was the most pronounced in 2014 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2015 to 2022, the growth of the sorghum harvested area remained at a somewhat lower figure.

Sorghum Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of sorghum decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports showed a pronounced decline. The growth pace was the most rapid in 2021 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sorghum exports shrank to $X in 2022. Over the period under review, exports showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina prevails in exports structure, recording X tons, which was near X% of total exports in 2022. Paraguay (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to sorghum exports from Argentina stood at X%. At the same time, Paraguay (X%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Paraguay increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest sorghum supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Paraguay ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Argentina stood at X%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Export price indicated a slight expansion 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, sorghum export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Paraguay totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (X%).

Sorghum Imports

Imports in Latin America and the Caribbean

In 2022, the amount of sorghum imported in Latin America and the Caribbean soared to X tons, increasing by X% compared with 2021 figures. Over the period under review, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sorghum imports soared to $X in 2022. Overall, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Mexico dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Brazil (X tons), achieving a X% share of total imports.

Imports into Mexico decreased at an average annual rate of X% from 2012 to 2022. At the same time, Brazil (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Mexico and Brazil increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported sorghum in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports.

In Mexico, sorghum imports contracted by an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, waning by X% against the previous year. Import price indicated a slight expansion 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, sorghum import price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%).

Source: IndexBox Platform

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