Latin America and the Caribbean: Beef Market 2025

Beef Market Size in Latin America and the Caribbean

In 2021, the Latin American beef market increased by 0.6% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption showed a slight reduction. The growth pace was the most rapid in 2017 when the market value increased by 2.6%. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Beef Production in Latin America and the Caribbean

In value terms, beef production totaled $X in 2021 estimated in export price. Over the period under review, production showed a slight reduction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 3.8% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Brazil (X tons) constituted the country with the largest volume of beef production, accounting for 52% of total volume. Moreover, beef production in Brazil exceeded the figures recorded by the second-largest producer, Argentina (X tons), threefold. Mexico (X tons) ranked third in terms of total production with an 11% share.

In Brazil, beef production remained relatively stable over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: Argentina (+1.6% per year) and Mexico (+1.8% per year).

In 2021, the average beef yield in Latin America and the Caribbean amounted to X kg per head, remaining constant against 2020 figures. The yield figure increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the yield increased by 12% against the previous year. Over the period under review, the beef yield hit record highs in 2021 and is likely to see gradual growth in years to come.

In 2021, the number of animals slaughtered for beef production in Latin America and the Caribbean contracted modestly to X heads, dropping by -2.7% against 2020. Overall, the number of producing animals saw a mild slump. The growth pace was the most rapid in 2013 with an increase of 3.4% against the previous year. As a result, the amount of producing animals reached the peak level of X heads. From 2014 to 2021, the growth of this number remained at a somewhat lower figure.

Beef Exports

Exports in Latin America and the Caribbean

In 2021, the amount of beef (cattle meat) exported in Latin America and the Caribbean was estimated at X tons, remaining stable against the year before. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +70.3% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of 19%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, beef exports soared to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +89.3% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 23% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Brazil was the key exporting country with an export of around X tons, which accounted for 45% of total exports. It was distantly followed by Argentina (X tons), Uruguay (X tons), Paraguay (X tons) and Mexico (X tons), together mixing up a 47% share of total exports. Nicaragua (X tons) and Colombia (X tons) held a little share of total exports.

Exports from Brazil increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Argentina (+19.2%), Colombia (+11.2%), Uruguay (+8.1%), Mexico (+7.4%), Paraguay (+6.6%) and Nicaragua (+2.8%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +19.2% from 2012-2021. From 2012 to 2021, the share of Argentina increased by +9.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest beef supplier in Latin America and the Caribbean, comprising 44% of total exports. The second position in the ranking was taken by Argentina ($X), with a 15% share of total exports. It was followed by Uruguay, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Brazil stood at +6.6%. In the other countries, the average annual rates were as follows: Argentina (+11.7% per year) and Uruguay (+6.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, surging by 17% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.6%), while the other leaders experienced more modest paces of growth.

Beef Imports

Imports in Latin America and the Caribbean

In 2021, beef imports in Latin America and the Caribbean skyrocketed to X tons, with an increase of 27% on the year before. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, beef imports surged to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Chile represented the major importer of beef (cattle meat) in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was near 52% of total imports in 2021. Mexico (X tons) ranks second in terms of the total imports with a 15% share, followed by Brazil (7.2%), El Salvador (5.1%) and Uruguay (4.5%). The following importers - Guatemala (X tons) and the Dominican Republic (X tons) - each finished at a 5.4% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to beef imports into Chile stood at +13.5%. At the same time, Uruguay (+54.3%), the Dominican Republic (+17.6%), Guatemala (+12.0%) and El Salvador (+7.8%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +54.3% from 2012-2021. Brazil experienced a relatively flat trend pattern. By contrast, Mexico (-5.4%) illustrated a downward trend over the same period. While the share of Chile (+32 p.p.), Uruguay (+4.4 p.p.), El Salvador (+1.9 p.p.), the Dominican Republic (+1.8 p.p.) and Guatemala (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Brazil (-1.6 p.p.) and Mexico (-15.4 p.p.) displayed negative dynamics.

In value terms, Chile ($X) constitutes the largest market for imported beef (cattle meat) in Latin America and the Caribbean, comprising 47% of total imports. The second position in the ranking was held by Mexico ($X), with a 22% share of total imports. It was followed by Brazil, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value in Chile totaled +8.3%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-0.5% per year) and Brazil (-0.7% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 10% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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