Chile: Preserved Beef Market 2024

Preserved Beef Market Size in Chile

The Chilean preserved beef market dropped to $X in 2021, shrinking by -7.6% against the previous year. Overall, consumption saw a noticeable contraction. Preserved beef consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Preserved Beef Production in Chile

In value terms, preserved beef production declined to $X in 2021 estimated in export price. Over the period under review, production saw a perceptible contraction. The growth pace was the most rapid in 2020 with an increase of 17%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Preserved Beef Exports

Exports from Chile

For the third year in a row, Chile recorded growth in shipments abroad of beef and veal (salted, in brine, dried or smoked), which increased by 21% to X tons in 2021. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 609%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, preserved beef exports surged to $X in 2021. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2013 with an increase of 149% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Peru (X tons) was the main destination for preserved beef exports from Chile, with a 72% share of total exports. Moreover, preserved beef exports to Peru exceeded the volume sent to the second major destination, Australia (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Peru totaled +36.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+41.5% per year) and the United States (+6.7% per year).

In value terms, Peru ($X) remains the key foreign market for beef and veal (salted, in brine, dried or smoked) exports from Chile, comprising 86% of total exports. The second position in the ranking was held by Australia ($X), with a 9.3% share of total exports. It was followed by the United States, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru amounted to +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+54.9% per year) and the United States (+10.3% per year).

Export Prices by Country

In 2021, the average preserved beef export price amounted to $X per ton, surging by 22% against the previous year. Overall, the export price posted a pronounced increase. The most prominent rate of growth was recorded in 2015 an increase of 188%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+33.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Beef Imports

Imports into Chile

In 2021, approx. X kg of beef and veal (salted, in brine, dried or smoked) were imported into Chile; which is down by -14% on the previous year's figure. In general, imports saw a slight reduction. The pace of growth appeared the most rapid in 2019 with an increase of 724% against the previous year. As a result, imports attained the peak of X kg. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved beef imports reduced markedly to $X in 2021. Overall, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2019 when imports increased by 394% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X kg) constituted the largest supplier of preserved beef to Chile, with a 22% share of total imports. Moreover, preserved beef imports from Spain exceeded the figures recorded by the second-largest supplier, Brazil (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-30.1% per year) and Italy (-98.0% per year).

In value terms, Spain ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to Chile, comprising 21% of total imports. The second position in the ranking was held by Brazil ($X), with a 3.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-27.8% per year) and Italy (-99.7% per year).

Import Prices by Country

In 2021, the average preserved beef import price amounted to $X per ton, declining by -20.3% against the previous year. Overall, the import price faced a deep downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by 89% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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