Mexico: Frozen Pork Cut Market 2024

Frozen Pork Cut Market Size in Mexico

The Mexican frozen pork cut market surged to $X in 2022, jumping by 15% against the previous year. Over the period under review, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Frozen pork cut consumption peaked in 2022 and is expected to retain growth in the near future.

Frozen Pork Cut Production in Mexico

In value terms, frozen pork cut production amounted to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 -4.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 48% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Frozen Pork Cut Exports

Exports from Mexico

In 2022, shipments abroad of frozen hams, shoulders and cuts of pig meat decreased by -88.7% to X tons, falling for the second year in a row after seven years of growth. Overall, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 333%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, frozen pork cut exports reduced dramatically to $X in 2022. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 334%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for frozen pork cut exports from Mexico, accounting for a 68% share of total exports. Moreover, frozen pork cut exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by China (X tons), with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+160.9% per year) and China (-42.6% per year).

In value terms, Japan ($X) emerged as the key foreign market for frozen hams, shoulders and cuts of pig meat exports from Mexico, comprising 72% of total exports. The second position in the ranking was held by the United States ($X), with a 19% share of total exports. It was followed by China, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+165.2% per year) and China (-32.6% per year).

Export Prices by Country

The average frozen pork cut export price stood at $X per ton in 2022, growing by 73% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Pork Cut Imports

Imports into Mexico

In 2022, after two years of decline, there was significant decline in supplies from abroad of frozen hams, shoulders and cuts of pig meat, when their volume decreased by -18.8% to X tons. Over the period under review, imports faced a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 95% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen pork cut imports shrank to $X in 2022. Overall, imports recorded a deep slump. The pace of growth was the most pronounced in 2019 with an increase of 110% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of frozen pork cut to Mexico, with a 72% share of total imports. Moreover, frozen pork cut imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -10.3%.

In value terms, the United States ($X) constituted the largest supplier of frozen hams, shoulders and cuts of pig meat to Mexico, comprising 73% of total imports. The second position in the ranking was taken by Canada ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -8.4%.

Import Prices by Country

In 2022, the average frozen pork cut import price amounted to $X per ton, increasing by 12% against the previous year. Overall, the import price recorded a moderate increase. The pace of growth appeared the most rapid in 2014 when the average import price increased by 36% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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