Puerto Rico: Market for Goat Or Kid Hides And Skins 2024

Market Size for Goat Or Kid Hides And Skins in Puerto Rico

In 2021, the Puerto Rican goat hides and skins market increased by 2.9% to $X for the first time since 2014, thus ending a six-year declining trend. Over the period under review, consumption, however, continues to indicate a pronounced curtailment. Puerto Rico consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Goat Or Kid Hides And Skins in Puerto Rico

In value terms, goat hides and skins production expanded to $X in 2021 estimated in export price. In general, production, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 with an increase of 23% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

In 2021, the average yield of goat or kid hides and skins in Puerto Rico was estimated at X kg per head, standing approx. at the previous year. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 17% against the previous year. As a result, the yield attained the peak level of X kg per head. From 2020 to 2021, the growth of the goat hides and skins yield failed to regain momentum.

In 2021, the number of animals slaughtered for goat hides and skins production in Puerto Rico rose slightly to X heads, picking up by 2.7% compared with the previous year's figure. Overall, the number of producing animals saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the number of producing animals increased by 21%. As a result, the number of producing animals attained the peak level of X heads. From 2015 to 2021, the growth of this number remained at a lower figure.

Exports of Goat Or Kid Hides And Skins

Exports from Puerto Rico

In value terms, goat hides and skins exports totaled less than $X in 2021. Overall, exports showed a relatively flat trend pattern.

Exports by Country

In 2021, Japan (X tons) was the largest exporter of goat or kid hides and skins, committing 39% of total exports. It was distantly followed by the United States (X tons), creating a 23% share of total exports. Vietnam (X tons), Spain (X tons), Cyprus (X tons), Greece (X tons), Germany (X tons), New Zealand (X tons), France (X tons), Canada (X tons), Hong Kong SAR (X tons) and Australia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +30.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest goat hides and skins supplying countries from Puerto Rico were the United States ($X), Japan ($X) and Australia ($X), together accounting for 51% of total exports. These countries were followed by Germany, Vietnam, France, Spain, New Zealand, Greece, Hong Kong SAR, Cyprus and Canada, which together accounted for a further 22%.

Vietnam, with a CAGR of +30.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately reflecting the previous year. In general, the export price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per ton), while Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+23.8%), while the other leaders experienced more modest paces of growth.

Imports of Goat Or Kid Hides And Skins

Imports into Puerto Rico

In value terms, goat hides and skins imports amounted to less than $X in 2021. Over the period under review, imports saw a relatively flat trend pattern.

Imports by Country

Thailand was the largest importing country with an import of around X tons, which reached 42% of total imports. Vietnam (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by China (8.8%), Mexico (6.5%) and Hong Kong SAR (1.2%). Indonesia (X tons), Nigeria (X tons), Taiwan (Chinese) (X tons), Poland (X tons), Turkey (X tons), Cambodia (X tons) and South Korea (X tons) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of +8.6% from 2012 to 2021. At the same time, Cambodia (+115.7%), Nigeria (+63.5%), Indonesia (+37.0%) and Poland (+4.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in the world, with a CAGR of +115.7% from 2012-2021. By contrast, Vietnam (-3.3%), Turkey (-4.9%), China (-10.0%), Mexico (-12.8%), South Korea (-13.6%), Taiwan (Chinese) (-24.0%) and Hong Kong SAR (-27.3%) illustrated a downward trend over the same period. Thailand (+30 p.p.), Indonesia (+4.3 p.p.), Nigeria (+4.2 p.p.), Vietnam (+2.4 p.p.), Cambodia (+1.8 p.p.) and Poland (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while China, Mexico, Hong Kong SAR and Taiwan (Chinese) saw its share reduced by -4.8%, -6.9%, -11.5% and -17.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported goat or kid hides and skins into Puerto Rico, comprising 16% of global imports. The second position in the ranking was held by China ($X), with a 3.4% share of global imports. It was followed by Vietnam, with a 3.2% share.

In Thailand, goat hides and skins imports expanded at an average annual rate of +3.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (-11.8% per year) and Vietnam (-8.2% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, approximately equating the previous year. Over the period under review, the import price saw a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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