Uruguay: Maize Market 2024

Maize Market Size in Uruguay

The Uruguayan maize market contracted to $X in 2022, shrinking by X% against the previous year. In general, consumption showed a prominent expansion. Maize consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Maize Production in Uruguay

In value terms, maize production expanded notably to $X in 2022 estimated in export price. Overall, production, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Maize production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of maize (green) in Uruguay expanded to X tons per ha, increasing by X% on 2021. Overall, the yield indicated noticeable growth from 2012 to 2022: its figure 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. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average maize yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of maize (green) production in Uruguay shrank modestly to X ha, with a decrease of X% on 2021. Over the period under review, the total harvested area indicated a resilient increase from 2012 to 2022: its figure 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. The pace of growth appeared the most rapid in 2015 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 2016 to 2022, the growth of the maize harvested area failed to regain momentum.

Maize Exports

Exports from Uruguay

In 2022, after two years of growth, there was significant decline in overseas shipments of maize (green), when their volume decreased by X% to X kg. Over the period under review, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X%. The exports peaked at X kg in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, maize exports reduced to $X in 2022. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

The UK (X kg) was the main destination for maize exports from Uruguay, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled X%.

In value terms, the UK ($X) also remains the key foreign market for maize (green) exports from Uruguay.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK totaled X%.

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to X% per year.

Maize Imports

Imports into Uruguay

In 2022, the amount of maize (green) imported into Uruguay rose sharply to X tons, with an increase of X% on 2021. Overall, total imports indicated a buoyant increase from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons; afterwards, it flattened through to 2022.

In value terms, maize imports reached $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Argentina (X tons) was the main supplier of maize to Uruguay, accounting for a X% share of total imports. It was followed by Brazil (X tons), with a X% share of total imports.

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

In value terms, Argentina ($X) constituted the largest supplier of maize (green) to Uruguay, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina totaled X%.

Import Prices by Country

The average maize import price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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