Chile: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Chile

In 2022, the Chilean market for frozen pig meat other than cuts or carcases decreased by -22.3% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, recorded a modest increase. As a result, consumption reached the peak level of $X, and then fell significantly in the following year.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Chile

In value terms, production of frozen pig meat other than cuts or carcases rose remarkably to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2019 with an increase of 251% against the previous year. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports from Chile

In 2022, overseas shipments of frozen pig meat other than cuts or carcases decreased by -15.3% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports, however, enjoyed perceptible growth. The pace of growth was the most pronounced in 2019 with an increase of 32%. Over the period under review, the exports of hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of frozen pig meat other than cuts or carcases contracted significantly to $X in 2022. Overall, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -26.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 31% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

China (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of exports of frozen pig meat other than cuts or carcases from Chile, with a combined 73% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +28.9%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and China ($X) appeared to be the largest markets for frozen pig meat other than cuts or carcases exported from Chile worldwide, together accounting for 77% of total exports.

Among the main countries of destination, China, with a CAGR of +37.2%, recorded the highest growth rate of 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 average export price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, dropping by -7.7% against the previous year. Over the period under review, the export price continues to indicate a mild slump. The growth pace was the most rapid in 2020 when the average export price increased by 12% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports into Chile

In 2022, overseas purchases of frozen pig meat other than cuts or carcases decreased by -35.3% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 88%. Imports peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, imports of frozen pig meat other than cuts or carcases fell rapidly to $X in 2022. Over the period under review, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 73%. Imports peaked at $X in 2021, and then declined rapidly in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest frozen pig meat other than cuts or carcases supplier to Chile, accounting for a 68% share of total imports. Moreover, imports of frozen pig meat other than cuts or carcases from Brazil exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. The third position in this ranking was taken by the United States (X tons), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled +37.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+292.4% per year) and the United States (-4.6% per year).

In value terms, Brazil ($X) constituted the largest supplier of frozen pig meat other than cuts or carcases to Chile, comprising 60% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Spain, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to +32.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.1% per year) and Spain (+251.8% per year).

Import Prices by Country

In 2022, the average import price for frozen pig meat other than cuts or carcases amounted to $X per ton, which is down by -6.4% against the previous year. Overall, the import price saw a perceptible decrease. The growth pace was the most rapid in 2014 an increase of 28%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+43.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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