Latin America and the Caribbean: Pork Market 2025

Pork Market Size in Latin America and the Caribbean

The Latin American pork market expanded slightly to $X in 2022, picking up by 3.9% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Pork Production in Latin America and the Caribbean

In value terms, pork production stood at $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The country with the largest volume of pork production was Brazil (X tons), accounting for 49% of total volume. Moreover, pork production in Brazil exceeded the figures recorded by the second-largest producer, Mexico (X tons), threefold. The third position in this ranking was taken by Argentina (X tons), with a 7.5% share.

In Brazil, pork production increased at an average annual rate of +3.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Mexico (+3.0% per year) and Argentina (+7.4% per year).

In 2022, the average pork yield in Latin America and the Caribbean amounted to X kg per head, growing by 2.6% on 2021. In general, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the yield increased by 2.9%. As a result, the yield reached the peak level of X kg per head. From 2021 to 2022, the growth of the pork yield remained at a somewhat lower figure.

In 2022, the number of animals slaughtered for pork production in Latin America and the Caribbean dropped slightly to X heads, which is down by -2.5% compared with the previous year. This number increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 5.7% against the previous year. Over the period under review, this number hit record highs at X heads in 2021, and then reduced modestly in the following year.

Pork Exports

Exports in Latin America and the Caribbean

After three years of growth, shipments abroad of pork decreased by -5.4% to X tons in 2022. Overall, exports, however, showed strong growth. The growth pace was the most rapid in 2020 with an increase of 34%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, pork exports declined to $X in 2022. In general, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 39%. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted in the following year.

Exports by Country

Brazil was the key exporting country with an export of around X tons, which amounted to 73% of total exports. Mexico (X tons) ranks second in terms of the total exports with a 14% share, followed by Chile (13%).

From 2012 to 2022, average annual rates of growth with regard to pork exports from Brazil stood at +7.3%. At the same time, Mexico (+10.5%) and Chile (+3.0%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +10.5% from 2012-2022. Mexico (+3.8 p.p.) and Brazil (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Chile saw its share reduced by -6% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest pork supplier in Latin America and the Caribbean, comprising 64% of total exports. The second position in the ranking was taken by Mexico ($X), with a 22% share of total exports.

In Brazil, pork exports increased at an average annual rate of +6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+7.9% per year) and Chile (+1.1% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, declining by -2.8% against the previous year. Over the period under review, the export price saw a mild setback. The most prominent rate of growth was recorded in 2014 when the export price increased by 15%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-1.3%), while the other leaders experienced a decline in the export price figures.

Pork Imports

Imports in Latin America and the Caribbean

In 2022, imports of pork in Latin America and the Caribbean rose markedly to X tons, with an increase of 14% on 2021. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, pork imports soared to $X in 2022. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Mexico prevails in imports structure, recording X tons, which was approx. 69% of total imports in 2022. Chile (X tons) ranks second in terms of the total imports with a 6% share, followed by Colombia (5.5%) and the Dominican Republic (5%). Uruguay (X tons), Honduras (X tons) and Argentina (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to pork imports into Mexico stood at +8.8%. At the same time, the Dominican Republic (+24.3%), Chile (+17.7%), Colombia (+12.7%), Honduras (+11.5%), Uruguay (+7.7%) and Argentina (+4.7%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +24.3% from 2012-2022. From 2012 to 2022, the share of the Dominican Republic and Chile increased by +3.6 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported pork in Latin America and the Caribbean, comprising 66% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with a 6.3% share of total imports. It was followed by Chile, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to +10.0%. The remaining importing countries recorded the following average annual rates of imports growth: the Dominican Republic (+24.5% per year) and Chile (+15.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by 6.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 21%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Dominican Republic ($X per ton) and Argentina ($X per ton), while Mexico ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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