Latin America and the Caribbean: Frozen Turkey Cut Market Overview 2021

Frozen Turkey Cut Market Size in Latin America and the Caribbean

The Latin American frozen turkey cut market expanded notably to $X in 2019, growing by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2008; however, from 2009 to 2019, consumption stood at a somewhat lower figure.

Frozen Turkey Cut Production in Latin America and the Caribbean

In value terms, frozen turkey cut production rose significantly to $X in 2019 estimated in export prices. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. The level of production peaked at $X in 2016; however, from 2017 to 2019, production remained at a lower figure.

The country with the largest volume of frozen turkey cut production was Brazil (X tonnes), comprising approx. X% of total volume. Moreover, frozen turkey cut production in Brazil exceeded the figures recorded by the second-largest producer, Chile (X tonnes), fivefold. The third position in this ranking was occupied by Argentina (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume in Brazil stood at -X%. The remaining producing countries recorded the following average annual rates of production growth: Chile (+X% per year) and Argentina (+X% per year).

Production By Country in Latin America and the Caribbean

Brazil (X tonnes) remains the largest frozen turkey cut producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, frozen turkey cut production in Brazil exceeded the figures recorded by the second-largest producer, Chile (X tonnes), fivefold. Argentina (X tonnes) ranked third in terms of total production with a X% share.

In Brazil, frozen turkey cut production contracted by an average annual rate of -X% over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: Chile (+X% per year) and Argentina (+X% per year).

Frozen Turkey Cut Exports

Exports in Latin America and the Caribbean

In 2019, the amount of frozen cuts of turkey exported in Latin America and the Caribbean declined remarkably to X tonnes, which is down by -X% against the previous year's figure. In general, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. The volume of export peaked at X tonnes in 2016; however, from 2017 to 2019, exports failed to regain the momentum.

In value terms, frozen turkey cut exports declined markedly to $X in 2019. Over the period under review, exports recorded a slight setback. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Over the period under review, exports hit record highs at $X in 2016; however, from 2017 to 2019, exports remained at a lower figure.

Exports by Country

Brazil (X tonnes) and Chile (X tonnes) represented roughly X% of total exports of frozen cuts of turkey in 2019.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Chile.

In value terms, Chile ($X) and Brazil ($X) constituted the countries with the highest levels of exports in 2019, together accounting for X% of total exports.

Among the main exporting countries, Chile saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The frozen turkey cut export price in Latin America and the Caribbean stood at $X per tonne in 2019, surging by X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2011 an increase of X% against the previous year. As a result, export price attained the peak level of $X per tonne; afterwards, it flattened through to 2019.

Average prices varied somewhat amongst the major exporting countries. In 2019, the country with the highest price was Chile ($X per tonne), while Brazil amounted to $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Brazil.

Frozen Turkey Cut Imports

Imports in Latin America and the Caribbean

In 2019, overseas purchases of frozen cuts of turkey decreased by -X% to X tonnes, falling for the second year in a row after two years of growth. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, imports hit record highs at X tonnes in 2014; however, from 2015 to 2019, imports stood at a somewhat lower figure.

In value terms, frozen turkey cut imports shrank to $X in 2019. The total import value increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2011 when imports increased by X% year-to-year. The level of import peaked at $X in 2016; however, from 2017 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Mexico (X tonnes) represented the major importer of frozen cuts of turkey, creating X% of total imports. Peru (X tonnes) occupied the second position in the ranking, followed by Chile (X tonnes), Jamaica (X tonnes), the Dominican Republic (X tonnes) and Haiti (X tonnes). All these countries together took near X% share of total imports. Panama (X tonnes), Guatemala (X tonnes), Bahamas (X tonnes), Costa Rica (X tonnes), Colombia (X tonnes) and Trinidad and Tobago (X tonnes) took a relatively small share of total imports.

Imports into Mexico decreased at an average annual rate of -X% from 2007 to 2019. At the same time, Peru (+X%), Colombia (+X%), Chile (+X%), Costa Rica (+X%), Jamaica (+X%), Bahamas (+X%), the Dominican Republic (+X%), Trinidad and Tobago (+X%) and Haiti (+X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2019. Guatemala experienced a relatively flat trend pattern. By contrast, Panama (-X%) illustrated a downward trend over the same period. While the share of Peru (+X p.p.), Chile (+X p.p.), Jamaica (+X p.p.), the Dominican Republic (+X p.p.), Costa Rica (+X p.p.) and Colombia (+X p.p.) increased significantly in terms of the total imports from 2007-2019, the share of Panama (-X p.p.) and Mexico (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported frozen cuts of turkey in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was occupied by Chile ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value in Mexico totaled -X%. In the other countries, the average annual rates were as follows: Chile (+X% per year) and Peru (+X% per year).

Import Prices by Country

The frozen turkey cut import price in Latin America and the Caribbean stood at $X per tonne in 2019, growing by X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2015 when the import price increased by X% year-to-year. As a result, import price attained the peak level of $X per tonne. From 2016 to 2019, the growth in terms of the import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Colombia ($X per tonne), while Jamaica ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Panama, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for frozen cuts of turkey in LatAmerica and the Caribbean?

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Brazil (98K tonnes) constituted the country with the largest volume of frozen turkey cut consumption, comprising approx. 43% of total volume. Moreover, frozen turkey cut consumption in Brazil exceeded the figures recorded by the second-largest consumer, Argentina (27K tonnes), fourfold. The third position in this ranking was occupied by Mexico (27K tonnes), with a 12% share.

What are the largest producers of frozen cuts of turkey in LatAmerica and the Caribbean?

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Brazil (132K tonnes) remains the largest frozen turkey cut producing country in Latin America and the Caribbean, accounting for 62% of total volume. Moreover, frozen turkey cut production in Brazil exceeded the figures recorded by the second-largest producer, Chile (28K tonnes), fivefold. Argentina (27K tonnes) ranked third in terms of total production with a 13% share.

What are the leading exporters of frozen cuts of turkey in LatAmerica and the Caribbean?

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In value terms, Chile ($74M) and Brazil ($74M) constituted the countries with the highest levels of exports in 2019, with a combined 99% share of total exports.

What are the leading importers of frozen cuts of turkey in LatAmerica and the Caribbean?

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In value terms, Mexico ($66M) constitutes the largest market for imported frozen cuts of turkey in Latin America and the Caribbean, comprising 38% of total imports. The second position in the ranking was occupied by Chile ($27M), with a 16% share of total imports. It was followed by Peru, with a 11% share.

What is the average export price for frozen cuts of turkey in LatAmerica and the Caribbean?

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In 2019, the frozen turkey cut export price in Latin America and the Caribbean amounted to $2,510 per tonne, jumping by 21% against the previous year.

What is the average import price for frozen cuts of turkey in LatAmerica and the Caribbean?

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The frozen turkey cut import price in Latin America and the Caribbean stood at $2,231 per tonne in 2019, picking up by 6.4% against the previous year.