Agriculture in Uruguay: Growth, Trends and Forecast (2022 - 2027)

Agriculture in Uruguay: Growth, Trends and Forecast (2022 - 2027)

Uruguay's economy remains dependent on agriculture and services. Agriculture and agri-industry account for 12% of GDP, and for about 70% of the total exports. Agriculture in Uruguay has witnessed great changes during the last decade. Uruguay’s major agricultural products are soybeans, rice, wheat, maize, sorghum, citrus fruits (mainly oranges, tangerines, lemons, and grapefruits), and deciduous fruits (mainly apples, pears, peaches, plums, quince, and nectarines). The factors driving the market are the abundant arable land, which accounts for 16.4 million hectares (93% of the country's total land area), and favorable government policies like, no limitations or restrictions on the export of agro-industrial goods.

Key Market TrendsDemand from the Food and Beverage Industry

Much of the country's industrial sector is linked to agriculture. About half of all industrial production is based on food processing or the refining of agricultural products, such as leather. Food and beverage products are the largest single manufacturing sectors, with food processing accounting for 25% of production and beverages accounting for 11% in 2018.Prepared rice, chocolate, cookies, and pasta are the main exports of Uruguay. The nation's principal food processing plants are concentrated in the towns of Fray Bentos and Paysanduu. The key markets for processed foods and beverages include Uruguay's MERCOSUR partners.

Rice and Soybean Dominate the Cereals Segment

In 2018, rice and soybean were the leading crops in terms of production in Uruguay with 1.36 and 1.33 million metric ton, respectively. The main reason for the high production of rice and soybean is their demand in the international market. Only 20% of rice produced is consumed locally and 80% of the rice is exported to other countries. Uruguay is the 7th largest exporter of soybean in the world with an export value of USD 10 billion in 2019. Maize, barley, wheat, sorghum, and oats are the other cereals grown in Uruguay.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.