Mexico: Pork Market 2024

Pork Market Size in Mexico

The Mexican pork market expanded notably to $X in 2022, growing by X% against the previous year. In general, the total consumption indicated a slight expansion from 2012 to 2022: its value 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, consumption increased by X% against 2015 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in years to come.

Pork Production in Mexico

In value terms, pork production amounted to $X in 2022 estimated in export price. In general, production recorded a pronounced contraction. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

The average yield of pork in Mexico reduced modestly to X kg per head in 2022, approximately reflecting 2021. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by X% against the previous year. Over the period under review, the average pork yield hit record highs at X kg per head in 2017; however, from 2018 to 2022, the yield remained at a lower figure.

In 2022, number of animals slaughtered for pork production in Mexico contracted slightly to X heads, remaining stable against 2021 figures. This number increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. The number of animals slaughtered for pork production peaked at X heads in 2021, and then dropped in the following year.

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Pork Exports

Exports from Mexico

In 2022, overseas shipments of pork decreased by X% to X tons, falling for the second year in a row after nine years of growth. Overall, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, pork exports declined to $X in 2022. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for pork exports from Mexico, accounting for a X% share of total exports. Moreover, pork exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), fourfold. South Korea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and South Korea (X% per year).

In value terms, Japan ($X) remains the key foreign market for pork exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with an X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and South Korea (X% per year).

Export Prices by Country

The average pork export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, 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 Japan ($X per ton), while the average price for exports to China ($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 South Korea (X%), while the prices for the other major destinations experienced a decline.

Pork Imports

Imports into Mexico

Pork imports into Mexico surged to X tons in 2022, with an increase of X% against the previous year's figure. Over the period under review, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, pork imports soared to $X in 2022. Overall, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of pork to Mexico, with a X% share of total imports. Moreover, pork imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%.

In value terms, the United States ($X) constituted the largest supplier of pork to Mexico, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%.

Import Prices by Country

The average pork import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for the United States totaled $X per ton.

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

Source: IndexBox Platform

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