Malt market in Chile

Earlier Report Observations

Chile's malt market volume expanded from 89.7 thousand tons in 2018 to 173.9 thousand tons in 2021. This growth was driven by increased domestic production as malting companies like Malterías Unidas and Agroinversiones improved cereal yields to reduce costs. At the same time, the sourcing strategy of Compañía de Cervecerías Unidas (CCU), which capped national supply at 50% of its needs, maintained a reliance on imports of untasted malt to cover the shortfall, supporting overall market volume.

After peaking in 2021, the market contracted to 141.5 thousand tons in 2022 and further to 128.1 thousand tons in 2023. Production declined as farmers continued to face difficulties committing to beer barley due to more attractive prices for other crops like wheat, oats, and corn. The two major domestic buyers, Malta del Sur and Maltexco, which had historically focused on export, saw their overseas shipments drop significantly, which freed up some supply for the local market but did not offset the overall production decrease.

Throughout the period, the market maintained a consistent structure with two national malting companies and a steady flow of imports, primarily from Argentina, Canada, and Uruguay, to meet domestic demand.

Production malt in Chile

In kind, 2018-2021, K t

Top producers of malt, 2018-2021

World map of production of malt, 2018-2021

Chile's malt production has increased for the third consecutive year. In 2021, Chile produced 110.7 K t of malt, marking a modest 2.5% increase compared to 2020. From 2018 to 2021, production grew by 51.8%, which translates to an annualized growth rate of 14.9%.

Annual dynamics of production in Chile in kind, 2018-2021, K t

In value, 2018-2021, K $ US

Chile's malt production value has risen for the third year in a row. In 2021, the output of malt was valued at 58 121 K $ US, showing a 3.8% increase from the previous year. Over the period from 2018 to 2021, production increased by 69.2%, with a compound annual growth rate (CAGR) of 19.2%.

Annual dynamics of production in Chile in value, 2018-2021, K $ US

Exports malt from Chile

Exports in kind, t

Malt export volumes from Chile have declined for the third consecutive year. In 2021, exports totaled 14 342 t, down by 51.2% compared to 2020. From 2018 to 2021, exports decreased by 55.9%, with a compound annual growth rate (CAGR) of -23.9%.

Annual dynamics of product's exports from Chile in kind, 2018-2021, t

From 2018 to 2021, Ecuador (19.8% of exports in kind), Panama (19.8% of exports in kind), and Peru (14.4% of exports in kind) were the key partners for Chile's malt exports in kind, collectively representing 53.9% of total flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Chile in kind, 2018-2021

Exports in value, K $ US

Chile's malt export value has declined for the second consecutive year. In 2021, Chile exported 7 529 K $ US of malt, which is 50.6% lower than in 2020. Between 2018 and 2021, exports decreased by 50.9%, equating to an annualized rate of -21.1%. The highest value was recorded in 2019 at 16 266 K $ US, with the largest increase of 6.1% also occurring in that year.

Annual dynamics of product's exports from Chile in value, 2018-2021, K $ US

From 2018 to 2021, Ecuador (18.9% of exports in value terms), Panama (18.5% of exports in value terms), and Peru (15.7% of exports in value terms) together accounted for 53.0% of total exports in value terms, remaining the primary destinations for Chile's malt.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Chile in value, 2018-2021

Imports malt to Chile

Imports in kind, t

Malt imports into Chile have increased for the third consecutive year. In 2021, Chile imported a total of value_last_year t of malt, indicating a significant gain of 36.1% from 2020. Over the period from 2018 to 2021, imports grew by 57.2%, with a compound annual growth rate (CAGR) of 16.3%.

Annual dynamics of product's imports to Chile in kind, 2018-2021, t

From 2018 to 2021, Argentina was the principal source for malt imports into Chile, accounting for 88.5% of total imports in kind, while other destinations contributed a smaller share.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Chile in kind, 2018-2021

Imports in value, K $ US

The value of malt imports into Chile has risen for the third consecutive year. In 2021, imports amounted to 47 220 K $ US, corresponding to an uptick of 56.0% compared to 2020. Between 2018 and 2021, imports increased by 76.1%, equating to an annualized growth rate of 20.8%.

Annual dynamics of product's imports to Chile in value, 2018-2021, K $ US

From 2018 to 2021, Argentina was the key supplier of malt to Chile, taking 87.4% of total imports in value terms, while a diverse group of other countries accounted for the remainder.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Chile in value, 2018-2021