Puerto Rico: Meat And Poultry Market 2024

Meat And Poultry Market Size in Puerto Rico

The Puerto Rican meat and poultry market surged to $X in 2021, growing by 16% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Meat And Poultry Production in Puerto Rico

In value terms, meat and poultry production fell to $X in 2021 estimated in export price. Over the period under review, production recorded a deep contraction. The pace of growth was the most pronounced in 2020 when the production volume increased by 2.8% against the previous year. Meat and poultry production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

The average yield of meat and poultry in Puerto Rico amounted to X kg per head in 2021, approximately reflecting the year before. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. Over the period under review, the average meat and poultry yield attained the peak level at X kg per head in 2014; however, from 2015 to 2021, the yield failed to regain momentum.

The number of animals slaughtered for meat and poultry production in Puerto Rico contracted to X heads in 2021, which is down by -7.4% against 2020 figures. Over the period under review, the number of producing animals showed a perceptible curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 6.8% against the previous year. Over the period under review, this number hit record highs at X heads in 2012; however, from 2013 to 2021, producing animals stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Meat And Poultry Exports

Exports from Puerto Rico

In 2021, after two years of growth, there was significant decline in overseas shipments of meat and poultry, when their volume decreased by -40.6% to X tons. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 735% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then fell rapidly in the following year.

In value terms, meat and poultry exports dropped sharply to $X in 2021. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by 392%. Over the period under review, the exports reached the peak figure at $X in 2020, and then dropped markedly in the following year.

Exports by Country

The United States (X tons) was the main destination for meat and poultry exports from Puerto Rico, accounting for a 98% share of total exports. It was followed by Barbados (X tons), with a 2.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +23.8%.

In value terms, the United States ($X) remains the key foreign market for meat and poultry exports from Puerto Rico, comprising 98% of total exports. The second position in the ranking was taken by Barbados ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +17.9%.

Export Prices by Country

The average meat and poultry export price stood at $X per ton in 2021, growing by 10% against the previous year. Over the period under review, the export price, however, recorded a pronounced descent. The growth pace was the most rapid in 2019 an increase of 58% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Barbados amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Barbados (+6.6%), while the prices for the other major destinations experienced a decline.

Meat And Poultry Imports

Imports into Puerto Rico

In 2021, supplies from abroad of meat and poultry increased by 12% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 16% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, meat and poultry imports surged to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of meat and poultry to Puerto Rico, with a 68% share of total imports. Moreover, meat and poultry imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+26.9% per year) and Brazil (+127.3% per year).

In value terms, the United States ($X) constituted the largest supplier of meat and poultry to Puerto Rico, comprising 77% of total imports. The second position in the ranking was held by Canada ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+25.0% per year) and Brazil (+132.2% per year).

Import Prices by Country

The average meat and poultry import price stood at $X per ton in 2021, picking up by 10% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2014 when the average import price increased by 15%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :