MERCOSUR: Frozen Pork Cut Market 2024

Frozen Pork Cut Market Size in MERCOSUR

In 2022, the MERCOSUR frozen pork cut market increased by 4.9% to $X, rising for the sixth consecutive year after two years of decline. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +91.6% against 2016 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Frozen Pork Cut Production in MERCOSUR

In value terms, frozen pork cut production reached $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.7% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 29%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Brazil (X tons) constituted the country with the largest volume of frozen pork cut production, comprising approx. 53% of total volume. Moreover, frozen pork cut production in Brazil exceeded the figures recorded by the second-largest producer, Chile (X tons), threefold. Argentina (X tons) ranked third in terms of total production with a 13% share.

In Brazil, frozen pork cut production expanded at an average annual rate of +4.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (+5.2% per year) and Argentina (+4.3% per year).

Frozen Pork Cut Exports

Exports in MERCOSUR

In 2022, approx. X tons of frozen hams, shoulders and cuts of pig meat were exported in MERCOSUR; declining by -16.4% against the previous year. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -22.7% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 44%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, frozen pork cut exports dropped remarkably to $X in 2022. In general, exports, however, saw perceptible growth. The pace of growth was the most pronounced in 2020 when exports increased by 84%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Chile was the key exporting country with an export of about X tons, which finished at 60% of total exports. It was distantly followed by Brazil (X tons), constituting a 39% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Chile (with a CAGR of +4.2%).

In value terms, Chile ($X) remains the largest frozen pork cut supplier in MERCOSUR, comprising 68% of total exports. The second position in the ranking was taken by Brazil ($X), with a 32% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile totaled +4.3%.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, with a decrease of -13% against the previous year. Overall, the export price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2020 an increase of 28% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+0.1%).

Frozen Pork Cut Imports

Imports in MERCOSUR

Frozen pork cut imports dropped markedly to X tons in 2022, declining by -40% compared with 2021. Over the period under review, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 93%. As a result, imports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, frozen pork cut imports fell sharply to $X in 2022. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 109%. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

Colombia was the key importer of frozen hams, shoulders and cuts of pig meat in MERCOSUR, with the volume of imports resulting at X tons, which was approx. 58% of total imports in 2022. Chile (X tons) held a 27% share (based on physical terms) of total imports, which put it in second place, followed by Peru (13%).

Imports into Colombia increased at an average annual rate of +24.0% from 2012 to 2022. At the same time, Peru (+32.6%) and Chile (+5.9%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +32.6% from 2012-2022. While the share of Colombia (+44 p.p.) and Peru (+12 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (-6.5 p.p.) displayed negative dynamics.

In value terms, Colombia ($X) constitutes the largest market for imported frozen hams, shoulders and cuts of pig meat in MERCOSUR, comprising 57% of total imports. The second position in the ranking was taken by Chile ($X), with a 28% share of total imports.

In Colombia, frozen pork cut imports increased at an average annual rate of +19.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+3.3% per year) and Peru (+28.8% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price saw a perceptible decline. The most prominent rate of growth was recorded in 2016 when the import price increased by 14% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (-2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform