Latin America and the Caribbean: Turkey Meat Market 2024

Turkey Meat Market Size in Latin America and the Caribbean

The Latin American turkey meat market reduced to $X in 2022, dropping by X% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Turkey Meat Production in Latin America and the Caribbean

In value terms, turkey meat production fell to $X in 2022 estimated in export price. In general, production continues to indicate a mild descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The country with the largest volume of turkey meat production was Brazil (X tons), comprising approx. X% of total volume. Moreover, turkey meat production in Brazil exceeded the figures recorded by the second-largest producer, Chile (X tons), eightfold. Argentina (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Brazil totaled X%. The remaining producing countries recorded the following average annual rates of production growth: Chile (X% per year) and Argentina (X% per year).

In 2022, the average turkey meat yield in Latin America and the Caribbean amounted to X kg per head, remaining relatively unchanged against 2021. Overall, the yield showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the yield increased by X%. As a result, the yield attained the peak level of X kg per head. From 2019 to 2022, the growth of the turkey meat yield remained at a lower figure.

In 2022, approx. X heads of animals slaughtered for turkey meat production in Latin America and the Caribbean; approximately mirroring 2021 figures. Overall, the number of producing animals saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of producing animals peaked at X heads in 2013; however, from 2014 to 2022, producing animals remained at a lower figure.

Turkey Meat Exports

Exports in Latin America and the Caribbean

Turkey meat exports skyrocketed to X tons in 2022, rising by X% on the previous year. In general, exports, however, continue to indicate a mild decrease. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, turkey meat exports skyrocketed to $X in 2022. Overall, exports recorded perceptible growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Brazil (X tons) and Chile (X tons), together finishing at X% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Chile (with a CAGR of X%).

In value terms, the largest turkey meat supplying countries in Latin America and the Caribbean were Brazil ($X) and Chile ($X).

Among the main exporting countries, Chile, 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 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by X% against the previous year. Export price indicated a noticeable 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, turkey meat export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%).

Turkey Meat Imports

Imports in Latin America and the Caribbean

In 2022, the amount of turkey meat imported in Latin America and the Caribbean fell remarkably to X tons, declining by X% on 2021 figures. Overall, imports saw a noticeable slump. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, turkey meat imports declined modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico prevails in imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by Chile (X tons), making up a X% share of total imports. Haiti (X tons), Peru (X tons), Jamaica (X tons), the Dominican Republic (X tons), Guatemala (X tons) and Panama (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to turkey meat imports into Mexico stood at X%. At the same time, Panama (X%), Haiti (X%) and Chile (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. The Dominican Republic, Guatemala, Jamaica and Peru experienced a relatively flat trend pattern. Chile (X p.p.), Haiti (X p.p.) and Panama (X p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Mexico, turkey meat imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Chile (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Haiti ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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