Micronesia (Federated States of): Meat Market 2020

Meat Market Size in Micronesia (Federated States of)

The revenue of the meat market in Micronesia (Federated States of) amounted to $X in 2018, declining by -X% against the previous year. Over the period under review, meat consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the market value increased by X% y-o-y. Over the period under review, the meat market attained its maximum level at $X in 2012; however, from 2013 to 2018, consumption remained at a lower figure.

Meat Production in Micronesia (Federated States of)

In value terms, meat production stood at $X in 2018 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Micronesia (Federated States of) meat production peaked at $X in 2014; however, from 2015 to 2018, production remained at a lower figure.

Average yield of meat in Micronesia (Federated States of) totaled X kg per head in 2018, stabilizing at the previous year. Over the period under review, the meat yield continues to indicate a relatively flat trend pattern.

In 2018, the number of animals slaughtered for meat production in Micronesia (Federated States of) amounted to X head, remaining relatively unchanged against the previous year. In general, the number of animals slaughtered for meat production continues to indicate a relatively flat trend pattern.

Meat Exports

Exports from Micronesia (Federated States of)

In 2018, the amount of meat exported from Micronesia (Federated States of) amounted to X tons, reducing by -X% against the previous year. Over the period under review, meat exports continue to indicate an abrupt decrease. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. Over the period under review, meat exports attained their peak figure at X tons in 2008; however, from 2009 to 2018, exports failed to regain their momentum.

In value terms, meat exports stood at $X in 2018. In general, meat exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. In that year, meat exports attained their peak of $X. From 2009 to 2018, the growth of meat exports remained at a lower figure.

Exports by Country

The U.S. (X tons), Germany (X tons), Spain (X tons), Brazil (X tons), Australia (X tons), the Netherlands (X tons), Denmark (X tons), India (X tons), Canada (X tons), Poland (X tons), Belgium (X tons) and New Zealand (X tons) represented roughly X% of total exports of meat in 2018.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by India, while the other leaders experienced more modest paces of growth.

In value terms, the largest meat markets from Micronesia (Federated States of) were the U.S. ($X), Australia ($X) and Brazil ($X), with a combined X% share of total exports. Germany, the Netherlands, Spain, New Zealand, Canada, India, Denmark, Poland, Belgium and Micronesia (Federated States of) lagged somewhat behind, together comprising a further X experienced the highest rates of growth with regard to exports, among the main exporting countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the meat export price in Micronesia (Federated States of) amounted to $X per ton, picking up by X% against the previous year. Overall, the export price indicated a resilient expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, meat export price increased by +X% against 2012 indices. The most prominent rate of growth was recorded in 2013 an increase of X% y-o-y. Micronesia (Federated States of) export price peaked in 2018 and is likely to see steady growth in the near future.

Prices varied noticeably by the country of origin; the country with the highest price was New Zealand ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other leaders experienced more modest paces of growth.

Meat Imports

Imports into Micronesia (Federated States of)

Meat imports into Micronesia (Federated States of) amounted to X tons in 2018, going down by -X% against the previous year. Over the period under review, meat imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, meat imports attained their maximum at X tons in 2011; however, from 2012 to 2018, imports remained at a lower figure.

In value terms, meat imports stood at $X in 2018. Overall, the total imports indicated a remarkable expansion from 2007 to 2018: its value decreased at an average annual rate of -X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, meat imports increased by +X% against 2013 indices. The growth pace was the most rapid in 2009 with an increase of X% y-o-y. Over the period under review, meat imports attained their peak figure at $X in 2017, leveling off in the following year.

Imports by Country

The imports of the twelve major importers of meat, namely China, Japan, the U.S., Italy, Germany, Mexico, South Korea, China, Hong Kong SAR, Vietnam, the UK, Poland and the Netherlands, represented more than half of total import.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, the largest meat importing markets into Micronesia (Federated States of) were Japan ($X), the U.S. ($X) and China ($X), with a combined X% share of total imports. Germany, Italy, South Korea, China, Hong Kong SAR, the UK, the Netherlands, Vietnam, Mexico, Poland and Micronesia (Federated States of) lagged somewhat behind, together comprising a further X Nam recorded the highest rates of growth with regard to imports, in terms of the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the meat import price in Micronesia (Federated States of) amounted to $X per ton, going up by X% against the previous year. Overall, the import price indicated a prominent expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, meat import price increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2009 when the import price increased by X% year-to-year. Micronesia (Federated States of) import price peaked in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was South Korea ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform