Ecuador: Beef Market 2024

Beef Market Size in Ecuador

The Ecuadorian beef market expanded modestly to $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, recorded a mild downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Beef Production in Ecuador

In value terms, beef production reached $X in 2022 estimated in export price. Overall, production, however, showed a slight downturn. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Beef production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The average yield of beef (cattle meat) in Ecuador reduced slightly to X kg per head in 2022, leveling off at the year before. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the yield increased by X%. Over the period under review, the average beef yield attained the maximum level at X kg per head in 2021, and then contracted in the following year.

In 2022, number of animals slaughtered for beef production in Ecuador was estimated at X heads, growing by X% compared with 2021 figures. Overall, the number of producing animals, however, saw a slight downturn. The growth pace was the most rapid in 2019 when the number of producing animals increased by X%. Over the period under review, this number hit record highs at X heads in 2012; however, from 2013 to 2022, producing animals remained at a lower figure.

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Beef Exports

Exports from Ecuador

In 2018, overseas shipments of beef (cattle meat) increased by X% to X kg, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a significant decline. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2018, the exports stood at a somewhat lower figure.

In value terms, beef exports skyrocketed to $X in 2018. In general, exports, however, continue to indicate a sharp reduction. The exports peaked at $X in 2014; however, from 2015 to 2018, the exports remained at a lower figure.

Exports by Country

Vietnam (X kg) was the main destination for beef exports from Ecuador, with a X% share of total exports. Moreover, beef exports to Vietnam exceeded the volume sent to the second major destination, Maldives (X kg), more than tenfold.

From 2014 to 2018, the average annual growth rate of volume to Vietnam was relatively modest.

In value terms, Vietnam ($X) and Maldives ($X) appeared to be the largest markets for beef exported from Ecuador worldwide.

Among the main countries of destination, Maldives, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2018, the average beef export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, continues to indicate a precipitous decline. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2018, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Vietnam stood at $X per ton.

From 2014 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (X%).

Beef Imports

Imports into Ecuador

In 2022, supplies from abroad of beef (cattle meat) decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, beef imports rose slightly to $X in 2022. In general, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Uruguay (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of beef imports to Ecuador, together comprising X% of total imports. Bolivia lagged somewhat behind, comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest beef suppliers to Ecuador were Uruguay ($X), the United States ($X) and Argentina ($X), together accounting for X% of total imports. Bolivia lagged somewhat behind, comprising a further X%.

In terms of the main suppliers, Bolivia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average beef import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beef import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Argentina ($X per ton) and Uruguay ($X per ton), while the price for Bolivia ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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