MERCOSUR: Sorghum Market 2024

Sorghum Market Size in MERCOSUR

In 2022, the MERCOSUR sorghum market decreased by X% to $X, falling for the second consecutive year after two years of growth. In general, consumption continues to indicate a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sorghum Production in MERCOSUR

In value terms, sorghum production rose modestly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced curtailment. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Brazil (X tons), Argentina (X tons) and Paraguay (X tons), together accounting for X% of total production.

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

The average sorghum yield stood at X tons per ha in 2022, almost unchanged from the previous year. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the sorghum yield attained the maximum level at X tons per ha in 2012; however, from 2013 to 2022, the 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 sorghum production in MERCOSUR reduced to X ha, shrinking by X% compared with 2021. Overall, the harvested area saw a mild reduction. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to sorghum production reached the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Sorghum Exports

Exports in MERCOSUR

In 2022, after three years of growth, there was significant decline in shipments abroad of sorghum, when their volume decreased by X% to X tons. In general, exports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sorghum exports declined slightly to $X in 2022. Overall, exports continue to indicate a mild contraction. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina prevails in exports structure, amounting to X tons, which was approx. X% of total exports in 2022. Paraguay (X tons) took a little share of total exports.

Exports from Argentina decreased at an average annual rate of X% from 2012 to 2022. At the same time, Paraguay (X%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2022. While the share of Paraguay (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Argentina, sorghum exports plunged by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, rising by X% against the previous year. Export price indicated a mild increase 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 growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual 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 MERCOSUR

In 2022, approx. X tons of sorghum were imported in MERCOSUR; with a decrease of X% against the previous year. Overall, imports showed a sharp contraction. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sorghum imports reduced markedly to $X in 2022. In general, imports saw a precipitous contraction. The growth pace was the most rapid in 2018 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 2022, imports failed to regain momentum.

Imports by Country

Brazil was the main importing country with an import of around X tons, which amounted to X% of total imports. Chile (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Uruguay (X%). Argentina (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the sorghum imports, with a CAGR of X% from 2012 to 2022. At the same time, Argentina (X%) and Uruguay (X%) displayed positive paces of growth. By contrast, Chile (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.), Uruguay (X p.p.) and Argentina (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (X p.p.) displayed negative dynamics.

In value terms, the largest sorghum importing markets in MERCOSUR were Uruguay ($X), Brazil ($X) and Argentina ($X), with a combined X% share of total imports.

Brazil, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price enjoyed buoyant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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