MERCOSUR: Goat Meat Market 2024

Goat Meat Market Size in MERCOSUR

The MERCOSUR goat meat market declined slightly to $X in 2022, waning by -3.1% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Goat Meat Production in MERCOSUR

In value terms, goat meat production contracted slightly to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 -13.1% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 65% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Brazil (X tons) constituted the country with the largest volume of goat meat production, comprising approx. 60% of total volume. Moreover, goat meat production in Brazil exceeded the figures recorded by the second-largest producer, Argentina (X tons), fivefold. The third position in this ranking was held by Venezuela (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume in Brazil amounted to +2.7%. The remaining producing countries recorded the following average annual rates of production growth: Argentina (-3.3% per year) and Venezuela (+1.6% per year).

In 2022, the average yield of goat meat in MERCOSUR fell modestly to X kg per head, standing approx. at 2021 figures. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 2.8%. Over the period under review, the goat meat yield reached the peak level at X kg per head in 2021, and then shrank in the following year.

In 2022, approx. X heads of animals slaughtered for goat meat production in MERCOSUR; approximately reflecting the previous year's figure. Overall, the number of producing animals, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 4.3%. The level of producing animals peaked at X heads in 2021, and then reduced in the following year.

Goat Meat Exports

Exports in MERCOSUR

In 2022, after four years of growth, there was significant decline in shipments abroad of goat meat, when their volume decreased by -51.5% to X tons. Overall, exports, however, showed a measured increase. The pace of growth appeared the most rapid in 2018 when exports increased by 143%. The volume of export peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, goat meat exports dropped rapidly to $X in 2022. In general, exports, however, recorded slight growth. The most prominent rate of growth was recorded in 2018 when exports increased by 179%. Over the period under review, the exports hit record highs at $X in 2021, and then fell sharply in the following year.

Exports by Country

Argentina represented the largest exporter of goat meat in MERCOSUR, with the volume of exports amounting to X tons, which was near 73% of total exports in 2022. It was distantly followed by Uruguay (X tons), making up a 26% share of total exports.

Argentina experienced a relatively flat trend pattern with regard to volume of exports of goat meat. At the same time, Uruguay (+26.7%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +26.7% from 2012-2022. While the share of Uruguay (+22 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Argentina (-23.4 p.p.) displayed negative dynamics.

In value terms, Argentina ($X) remains the largest goat meat supplier in MERCOSUR, comprising 78% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 17% share of total exports.

In Argentina, goat meat exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, which is down by -28.7% against the previous year. Overall, the export price showed a slight downturn. The most prominent rate of growth was recorded in 2014 an increase of 65%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Uruguay amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-0.8%).

Goat Meat Imports

Imports in MERCOSUR

In 2022, the amount of goat meat imported in MERCOSUR contracted rapidly to X kg, which is down by -43.5% compared with the year before. In general, imports recorded a precipitous setback. The most prominent rate of growth was recorded in 2020 when imports increased by 1,346%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, goat meat imports surged to $X in 2022. Overall, imports faced a sharp slump. The most prominent rate of growth was recorded in 2020 when imports increased by 297%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Guyana was the largest importer of goat meat in MERCOSUR, with the volume of imports accounting for X kg, which was approx. 87% of total imports in 2022. It was distantly followed by Uruguay (X kg), making up a 13% share of total imports.

Imports into Guyana decreased at an average annual rate of -13.2% from 2012 to 2022. Uruguay (-8.3%) illustrated a downward trend over the same period. Guyana (+70 p.p.) and Uruguay (+12 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guyana ($X) constitutes the largest market for imported goat meat in MERCOSUR, comprising 91% of total imports. The second position in the ranking was held by Uruguay ($X), with a 9.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Guyana totaled -14.5%.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, picking up by 115% against the previous year. Over the period under review, the import price recorded a resilient expansion. The growth pace was the most rapid in 2014 when the import price increased by 217%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guyana ($X per ton), while Uruguay stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+5.5%).

Source: IndexBox Platform