During 2022, sales of cooking ingredients and meals in Uruguay were negatively affected by various background situations. The country’s new food labelling laws, which were enacted in 2021, have had a negative impact on sales across numerous categories, not least soup and stock cubes and powders, with the notorious black octagons that must be applied to the packaging of products containing high levels of sodium discouraging many consumers from buying these products.
Because of the complex and uncertain economic situation that prevailed in Uruguay and across Latin America during 2022, the government adopted several economic measures in order to combat high inflation, support consumption and reactivate the economy. In response to steep increases in prices at global level, the government made changes to customs duties, including eliminating import duties for soy oil and sunflower oil, the largest edible oils used in Uruguay, coming from outside the Mercosur trade bloc.
The domestic edible oils manufacturer COUSA remained the leading name in cooking ingredients and meals in Uruguay during 2022 and this was largely thanks to the company’s solid position in the most important categories of edible oils with its brands Delicia and Optima. In addition, COUSA remains the second largest player in sauces, dips and condiments with its brand Delicia.
The high inflation that Uruguayan consumers were forced to contend with during 2022 motivated the municipalities of Canelones and Montevideo (two open areas which together account for around 50% of the country’s total population) approved the sale of packaged food that has been bulk-broken into smaller unpackaged sizes. This scheme apply to small local grocers and covered a period of 180 days.
The current challenging international economic scenario is set to remain a complex and unpredictable influence on sales of cooking ingredients and meals during the initial stages of the forecast period and it possible that the influence of high inflation and the unfavourable economic situation could last for some years. As this situation has already had a disruptive effect on the supply of imported cooking and ingredients and meals, it is likely that the forecast period will see numerous important brands that are wholly or largely imported such as Knorr and Maggi in soup, Sibarita in meals and Heinz and Hellmann’s and Knorr in sauces, dips and condiments face challenges maintaining a consistent supply of products on retail shelves.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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