Latin America and the Caribbean: Preserved Swine Belly Market 2021

Preserved Swine Belly Market Size in Latin America and the Caribbean

In 2020, the Latin American preserved swine belly market decreased by -X% to $X for the first time since 2016, thus ending a three-year rising trend. The total consumption indicated a perceptible expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the market value increased by X% year-to-year. The level of consumption peaked at $X in 2019, and then reduced modestly in the following year.

Preserved Swine Belly Production in Latin America and the Caribbean

In value terms, preserved swine belly production reduced modestly to $X in 2020 estimated in export prices. The total production indicated noticeable growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Over the period under review, production hit record highs at $X in 2019, and then declined modestly in the following year.

Production By Country in Latin America and the Caribbean

The countries with the highest volumes of preserved swine belly production in 2020 were Brazil (X tons), Mexico (X tons) and Argentina (X tons), together accounting for X% of total production. These countries were followed by Colombia, Venezuela, Peru, Chile, Cuba, Ecuador, Guatemala, the Dominican Republic, Bolivia and Paraguay, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of preserved swine belly production, amongst the key producing countries, was attained by Ecuador, while preserved swine belly production for the other leaders experienced more modest paces of growth.

Preserved Swine Belly Exports

Exports in Latin America and the Caribbean

Preserved swine belly exports soared to X tons in 2020, increasing by X% on the previous year's figure. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2011 when exports increased by X% year-to-year. As a result, exports reached the peak of X tons. from 2012 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, preserved swine belly exports soared to $X in 2020. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2011 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. from 2012 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Brazil (X tons) and Mexico (X tons) were the major exporters of bellies and cuts of swine (salted, in brine, dried or smoked) in 2020, recording approx. X% and X% of total exports, respectively. It was distantly followed by Costa Rica (X tons) and Trinidad and Tobago (X tons), together committing a X% share of total exports. El Salvador (X tons) followed a long way behind the leaders.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Costa Rica, while exports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Costa Rica ($X) were the countries with the highest levels of exports in 2020, with a combined X% share of total exports.

Costa Rica recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The preserved swine belly export price in Latin America and the Caribbean stood at $X per ton in 2020, waning by -X% against the previous year. Export price indicated a modest increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, preserved swine belly export price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by X% y-o-y. The level of export peaked at $X per ton in 2018; however, from 2019 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was El Salvador ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by El Salvador, while the other leaders experienced more modest paces of growth.

Preserved Swine Belly Imports

Imports in Latin America and the Caribbean

In 2020, approx. X tons of bellies and cuts of swine (salted, in brine, dried or smoked) were imported in Latin America and the Caribbean; falling by -X% on the previous year's figure. In general, imports showed a perceptible reduction. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. from 2018 to 2020, the growth imports remained at a lower figure.

In value terms, preserved swine belly imports fell remarkably to $X in 2020. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2020, imports failed to regain the momentum.

Imports by Country

Mexico prevails in preserved swine belly imports structure, recording X tons, which was approx. X% of total imports in 2020. The following importers - the Dominican Republic (X tons), Chile (X tons), Guatemala (X tons), Costa Rica (X tons), Bahamas (X tons), Panama (X tons) and Colombia (X tons) - together made up X% of total imports.

From 2007 to 2020, average annual rates of growth with regard to preserved swine belly imports into Mexico stood at -X%. At the same time, Costa Rica (+X%), Guatemala (+X%), Panama (+X%), the Dominican Republic (+X%) and Chile (+X%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. By contrast, Colombia (-X%) and Bahamas (-X%) illustrated a downward trend over the same period. While the share of the Dominican Republic (+X p.p.), Costa Rica (+X p.p.), Guatemala (+X p.p.) and Chile (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of Bahamas (-X p.p.) and Mexico (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported bellies and cuts of swine (salted, in brine, dried or smoked) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was occupied by Chile ($X), with a X% share of total imports. It was followed by the Dominican Republic, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value in Mexico amounted to -X%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+X% per year) and the Dominican Republic (+X% per year).

Import Prices by Country

The preserved swine belly import price in Latin America and the Caribbean stood at $X per ton in 2020, remaining relatively unchanged against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2011 when the import price increased by X% y-o-y. The level of import peaked in 2020 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Colombia ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Colombia, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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