MERCOSUR: Pig Fat Market 2024

Pig Fat Market Size in MERCOSUR

The MERCOSUR pig fat market contracted to $X in 2022, falling by -3.7% against the previous year. In general, consumption showed a slight decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Pig Fat Production in MERCOSUR

In value terms, pig fat production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 38% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Pig Fat Exports

Exports in MERCOSUR

Pig fat exports fell slightly to X tons in 2022, reducing by -4.5% against the previous year's figure. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 34%. The volume of export peaked at X tons in 2021, and then fell slightly in the following year.

In value terms, pig fat exports fell significantly to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. The level of export peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Chile dominates exports structure, amounting to X tons, which was near 96% of total exports in 2022. Paraguay (X tons) followed a long way behind the leaders.

Exports from Chile increased at an average annual rate of +5.3% from 2012 to 2022. At the same time, Paraguay (+7.4%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +7.4% from 2012-2022. Chile (+14 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest pig fat supplier in MERCOSUR, comprising 95% of total exports. The second position in the ranking was held by Paraguay ($X), with a 2% share of total exports.

In Chile, pig fat exports increased at an average annual rate of +5.5% 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 -17.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by 26% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+5.4%).

Pig Fat Imports

Imports in MERCOSUR

In 2022, approx. X tons of pig fat were imported in MERCOSUR; with a decrease of -8.6% compared with the year before. Total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.1% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, pig fat imports declined to $X in 2022. Overall, imports, however, continue to indicate a temperate increase. The pace of growth appeared the most rapid in 2021 when imports increased by 46% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Uruguay (X tons), Brazil (X tons) and Colombia (X tons) was the largest importer of pig fat in MERCOSUR, committing 74% of total import. Chile (X tons) ranks next in terms of the total imports with a 13% share, followed by Ecuador (6.2%). The following importers - Argentina (X tons) and Peru (X tons) - each amounted to a 6.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +80.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Uruguay ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 69% of total imports.

Brazil, with a CAGR of +85.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, picking up by 7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2017 an increase of 25% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform