Puerto Rico: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Puerto Rico

In 2021, after two years of decline, there was significant growth in the Puerto Rican lamb and sheep meat market, when its value increased by 5.7% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Lamb and Sheep Meat in Puerto Rico

In value terms, lamb and sheep meat production amounted to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 11%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

In 2021, the average lamb and sheep meat yield in Puerto Rico amounted to X kg per head, approximately equating 2020. Overall, the yield recorded a relatively flat trend pattern. Over the period under review, the lamb and sheep meat yield attained the peak level in 2021 and is expected to retain growth in years to come.

The number of animals slaughtered for lamb and sheep meat production in Puerto Rico declined to X heads in 2021, flattening at the year before. Over the period under review, the number of producing animals recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 1.8%. Over the period under review, this number reached the peak level at X heads in 2016; afterwards, it flattened through to 2021.

Exports of Lamb and Sheep Meat

Exports from Puerto Rico

In value terms, lamb and sheep meat exports stood at less than $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern.

Exports by Country

New Zealand (X tons) and Australia (X tons) prevails in exports structure, together comprising 76% of total exports. It was distantly followed by the UK (X tons), comprising a 5% share of total exports. The following exporters - Ireland (X tons), Spain (X tons), France (X tons), the Netherlands (X tons) and India (X tons) - together made up 12% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by France (with a CAGR of +19.4%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Australia ($X) and the UK ($X) constituted the countries with the highest levels of exports in 2021, with a combined 80% share of total exports. These countries were followed by Ireland, France, Spain, the Netherlands and India, which together accounted for a further 14%.

In terms of the main exporting countries, France, with a CAGR of +23.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, remaining stable against the previous year. Overall, the export price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Spain ($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 (+4.1%), while the other leaders experienced more modest paces of growth.

Imports of Lamb and Sheep Meat

Imports into Puerto Rico

In value terms, lamb and sheep meat imports totaled less than $X in 2021. Overall, imports showed a relatively flat trend pattern.

Imports by Country

In 2021, China (X tons) represented the key importer of lamb and sheep meat, comprising 34% of total imports. It was distantly followed by the United States (X tons) and France (X tons), together creating a 21% share of total imports. The UK (X tons), the United Arab Emirates (X tons), Germany (X tons), Malaysia (X tons), the Netherlands (X tons), Canada (X tons), Italy (X tons), Qatar (X tons), Saudi Arabia (X tons) and Japan (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the lamb and sheep meat imports, with a CAGR of +14.3% from 2012 to 2021. At the same time, the United States (+9.9%), Malaysia (+5.4%), Canada (+4.6%), the Netherlands (+4.5%) and Japan (+1.3%) displayed positive paces of growth. Germany, France, Qatar and Italy experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-1.2%), the UK (-6.3%) and Saudi Arabia (-9.7%) illustrated a downward trend over the same period. While the share of China (+20 p.p.) and the United States (+5.3 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of France (-3 p.p.), Saudi Arabia (-3.8 p.p.) and the UK (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest lamb and sheep meat importing markets into Puerto Rico were China ($X), the United States ($X) and France ($X), together comprising 53% of total imports.

China, with a CAGR of +21.2%, 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

The import price in Puerto Rico stood at less than $X per ton in 2021, leveling off at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :