Venezuela: Canned Meat Market 2024

Canned Meat Market Size in Venezuela

The Venezuelan canned meat market expanded markedly to $X in 2021, increasing by 9.5% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Canned meat consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Canned Meat Production in Venezuela

In value terms, canned meat production rose markedly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 19%. Canned meat production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Canned Meat Exports

Exports from Venezuela

Canned meat exports from Venezuela stood at X tons in 2021, almost unchanged from the previous year. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 130%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, canned meat exports surged to $X in 2021. In general, exports showed a significant increase. The growth pace was the most rapid in 2018 with an increase of 129% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Hong Kong SAR (X tons) was the main destination for canned meat exports from Venezuela, with a 81% share of total exports. Moreover, canned meat exports to Hong Kong SAR exceeded the volume sent to the second major destination, Chile (X tons), sevenfold. Peru (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR totaled +47.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+43.8% per year) and Peru (+58.4% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for canned meat exports from Venezuela, comprising 73% of total exports. The second position in the ranking was held by Chile ($X), with a 15% share of total exports. It was followed by Peru, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR totaled +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+58.1% per year) and Peru (+46.7% per year).

Export Prices by Country

The average canned meat export price stood at $X per ton in 2021, jumping by 21% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 43%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+9.9%), while the prices for the other major destinations experienced a decline.

Canned Meat Imports

Imports into Venezuela

In 2021, the amount of canned meat imported into Venezuela soared to X tons, rising by 516% compared with 2020. Over the period under review, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, canned meat imports soared to $X in 2021. Overall, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of canned meat to Venezuela, with a 85% share of total imports. Moreover, canned meat imports from Turkey exceeded the figures recorded by the second-largest supplier, Brazil (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +1,028.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+37.1% per year) and the United States (-4.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of canned meat to Venezuela, comprising 69% of total imports. The second position in the ranking was held by the United States ($X), with a 7.8% share of total imports. It was followed by Brazil, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from Turkey stood at +664.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.7% per year) and Brazil (+17.8% per year).

Import Prices by Country

The average canned meat import price stood at $X per ton in 2021, dropping by -42.2% against the previous year. In general, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 22%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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