Mexico - Turkey Meat - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMexico's October 2023 Turkey Meat Imports Soar to $29M
Mexico Turkey Meat Imports
After two months of decline, overseas purchases of turkey meat increased by 22% to 15K tons in October 2023. In general, imports showed a temperate expansion. The most prominent rate of growth was recorded in July 2023 with an increase of 73% against the previous month. As a result, imports attained the peak of 16K tons. From August 2023 to October 2023, the growth of imports remained at a somewhat lower figure.
In value terms, turkey meat imports skyrocketed to $29M (IndexBox estimates) in October 2023. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 when imports increased by 83% m-o-m. As a result, imports attained the peak of $32M. From August 2023 to October 2023, the growth of imports failed to regain momentum.
| COUNTRY | Import Value of Turkey Meat in Mexico (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | |
| United States | 25.5 | 19.7 | 20.4 | 17.6 | 16.4 | 20.0 | 15.7 | 18.6 | 17.6 | 18.3 | 25.4 | 20.9 | 24.8 |
| Brazil | N/A | 8.7 | N/A | N/A | N/A | N/A | 2.7 | 1.6 | N/A | 13.8 | N/A | N/A | 3.6 |
| Others | 3.3 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.4 |
| Total | 28.7 | 28.5 | 20.4 | 17.6 | 16.4 | 20.0 | 18.5 | 20.2 | 17.6 | 32.1 | 25.4 | 20.9 | 28.8 |
Imports by Country
In October 2023, the United States (14K tons) was the main supplier of turkey meat to Mexico, accounting for a 92% share of total imports. Moreover, turkey meat imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (1.1K tons), more than tenfold.
From October 2022 to October 2023, the average monthly growth rate of volume from the United States stood at +3.8%.
In value terms, the United States ($25M) constituted the largest supplier of turkey meat to Mexico, comprising 86% of total imports. The second position in the ranking was taken by Brazil ($3.6M), with a 13% share of total imports.
From October 2022 to October 2023, the average monthly rate of growth in terms of value from the United States was relatively modest.
Imports by Type
In October 2023, fresh or chilled turkey cuts (11K tons) constituted the largest type of turkey meat supplied to Mexico, with a 71% share of total imports. Moreover, fresh or chilled turkey cuts exceeded the figures recorded for the second-largest type, frozen whole turkeys (2.5K tons), fourfold. Frozen turkey cuts (1.5K tons) ranked third in terms of total imports with a 9.9% share.
From October 2022 to October 2023, the average monthly rate of growth in terms of the volume of import of fresh or chilled turkey cuts amounted to +3.1%. With regard to the other supplied products, the following average monthly rates of growth were recorded: frozen whole turkeys (+8.4% per month) and frozen turkey cuts (+8.7% per month).
In value terms, the most traded types of turkey meat in Mexico were fresh or chilled turkey cuts ($16M), frozen whole turkeys ($8.4M) and frozen turkey cuts ($3.4M), with a combined 98% share of total imports. Fresh or chilled whole turkeys lagged somewhat behind, comprising a further 2.3%.
Import Prices by Country
In October 2023, the turkey meat price stood at $1,949 per ton (CIF, Mexico), picking up by 13% against the previous month. In general, the import price, however, saw a noticeable curtailment. The growth pace was the most rapid in November 2022 an increase of 13% against the previous month. As a result, import price reached the peak level of $3,522 per ton. From December 2022 to October 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Brazil ($3,345 per ton), while the price for the United States amounted to $1,826 per ton.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the United States (-3.9%).
This report provides an in-depth analysis of the turkey meat market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 1080 - Turkey meat
Country coverage:
- Mexico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Mexico
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
