Latin America and the Caribbean: Frozen Pork Carcase Market 2024

Frozen Pork Carcase Market Size in Latin America and the Caribbean

The Latin American frozen pork carcase market was estimated at $X in 2022, almost unchanged from the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Frozen Pork Carcase Production in Latin America and the Caribbean

In value terms, frozen pork carcase production shrank modestly to $X in 2022 estimated in export price. Overall, production showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Brazil (X tons) constituted the country with the largest volume of frozen pork carcase production, comprising approx. 77% of total volume. Moreover, frozen pork carcase production in Brazil exceeded the figures recorded by the second-largest producer, Argentina (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Brazil totaled -3.7%.

Frozen Pork Carcase Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of frozen carcases of pig meat decreased by -3.8% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 36%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen pork carcase exports contracted to $X in 2022. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) and Argentina (X tons) prevails in exports structure, together constituting 97% of total exports. Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +53.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Brazil ($X), Argentina ($X) and Paraguay ($X) were the countries with the highest levels of exports in 2022, together accounting for 97% of total exports.

Argentina, with a CAGR of +55.2%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price, however, recorded a mild decline. The most prominent rate of growth was recorded in 2014 when the export price increased by 48% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+0.9%), while the other leaders experienced a decline in the export price figures.

Frozen Pork Carcase Imports

Imports in Latin America and the Caribbean

Frozen pork carcase imports surged to X tons in 2022, increasing by 88% on the previous year. In general, imports recorded a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen pork carcase imports skyrocketed to $X in 2022. Over the period under review, imports showed strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 154%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The Dominican Republic dominates imports structure, accounting for X tons, which was approx. 75% of total imports in 2022. Haiti (X tons) took the second position in the ranking, followed by Chile (X tons). All these countries together held near 11% share of total imports. Honduras (X tons), Panama (X tons), Colombia (X tons) and Cuba (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen pork carcase imports into the Dominican Republic stood at +11.7%. At the same time, Chile (+33.4%), Colombia (+33.3%), Cuba (+21.0%), Honduras (+20.3%), Haiti (+18.5%) and Panama (+17.9%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +33.4% from 2012-2022. From 2012 to 2022, the share of the Dominican Republic, Chile, Haiti, Colombia and Honduras increased by +6.1, +5.2, +2.9, +1.8 and +1.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported frozen carcases of pig meat in Latin America and the Caribbean, comprising 79% of total imports. The second position in the ranking was held by Chile ($X), with a 4.4% share of total imports. It was followed by Honduras, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Dominican Republic amounted to +13.5%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+31.2% per year) and Honduras (+23.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of 2.6% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 36%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cuba ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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