Sorghum market in Latin America and the Caribbean

Earlier Report Observations

The sorghum market in Latin America and the Caribbean measured 9.7 million tons in 2018, rising to 10.4 million tons in 2019 before stabilizing around 10.3-10.4 million tons through 2022. In value terms, the market grew more consistently from $1.98 billion to $2.88 billion over the same period, indicating underlying price strength or a shift in market composition. Early in the period, trade data highlighted Mexico's role, with Jalisco state as a leading exporter and the United States and Germany as key sources of imports.

Market volume saw a moderate contraction to 10.1 million tons in 2021, while its value jumped 18% to $2.41 billion, suggesting higher unit values. By 2022, volume remained stable just above 10.1 million tons, but the market's worth climbed another 20% to $2.88 billion, continuing the trend of value growth outpacing physical volume.

A significant expansion occurred in 2023, with market volume surging 12% to 11.4 million tons and value increasing 16% to $3.34 billion. This growth aligns with broader regional trends emerging by 2024, including substantial production increases in Brazil and Argentina, driven by rising demand for animal feed and biofuels, as well as the strategic opening of export markets such as China for Brazilian sorghum.

Production sorghum in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of sorghum, 2017-2020

World map of production of sorghum, 2017-2020

Sorghum production in Latin America and the Caribbean rose for the second year in a row. In 2019, output reached 10,154 thousand tons, then increased by 7.0% to 10,866 thousand tons in 2020. The lowest production level was recorded in 2018 at 9,927 thousand tons, which represented an 8.9% decline from the previous year.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the value of sorghum production in Latin America and the Caribbean stood at 2,105 million US dollars, up 11.9% from 2019. Over the 2017-2020 period, production value grew by 17.6%, with a compound annual growth rate of 5.5%. The largest decrease occurred in 2019, when the value fell by 2.2%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports sorghum from Latin America and the Caribbean

Exports in kind, K t

Sorghum exports from Latin America and the Caribbean increased for the second consecutive year. In 2019, exports totaled 311.4 thousand tons, then surged by 56.8% to 488.3 thousand tons in 2020. Between 2017 and 2020, exports grew by 5.4%, equivalent to an annualized rate of 1.8%. The lowest export volume was recorded in 2018 at 235.4 thousand tons, marking a 49.2% drop from the previous year.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, Japan, China, and the United States were the key export partners for sorghum in volume terms. Japan accounted for 46.8% of exports, China for 29.1%, and the United States for 5.8%. Together, these three countries represented 81.7% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Sorghum exports from Latin America and the Caribbean increased for the second year in a row. In 2019, export value was 57.7 million US dollars, then rose by 64.0% to 94.6 million US dollars in 2020. Over the 2017-2020 period, export value grew by 24.2%, with an annualized rate of 7.5%. The lowest value was recorded in 2018 at 45.6 million US dollars, representing a 40.1% decline from the previous year.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, Japan, China, and the United States were the largest contributors to sorghum export value. Japan accounted for 37.6% of exports, China for 28.8%, and the United States for 4.9%. Collectively, these three partners made up 71.2% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports sorghum to Latin America and the Caribbean

Imports in kind, K t

The import market showed an unstable trend during this period. In 2019, imports peaked at 605.1 thousand tons, then plummeted by 98.3% to 10.2 thousand tons in 2020. This represents a 59-fold difference between the peak and trough. The largest increase occurred in 2019, when imports jumped by 1,029.8%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States was the main source of sorghum imports in volume terms, accounting for 80.2% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

The import market experienced noticeable fluctuations over this period. In 2019, import value reached a high of 181.0 million US dollars, then fell by 87.3% to 23.1 million US dollars in 2020. This represents a 7.8-fold difference between the peak and trough. The largest increase was recorded in 2019, when import value rose by 79.2%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, the United States was the primary source of sorghum imports in value terms for Latin America and the Caribbean, representing 80.7% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020