Beef and buffalo meat market in Guatemala

Earlier Report Observations

The Guatemalan beef and buffalo meat market volume grew from 216 thousand tons in 2018 to 253 thousand tons in 2021, with its value increasing from 962 million US dollars to 1.29 billion US dollars. This expansion was accompanied by a rise in domestic production from 201 thousand tons to 237 thousand tons over the same period.

In 2020, local beef prices fluctuated between Q24 and Q28 per pound, reflecting ongoing cost pressures from animal feed and fuels. The market volume contracted to 238 thousand tons in 2022, a decline primarily driven by government-authorized livestock exports to Mexico which created domestic supply shortages. Concurrently, rising input costs for fuel and feed pushed retail prices higher, contributing to an increase in the market's value to 1.48 billion US dollars.

A sharp recovery followed in 2023, with market volume surging to 362 thousand tons and value reaching 2.23 billion US dollars. This growth was supported by a significant jump in domestic production, which rose to 342 thousand tons.

Production beef and buffalo meat in Guatemala

In kind, 2017-2020, K t

Top producers of beef and buffalo meat, 2017-2020

World map of production of beef and buffalo meat, 2017-2020

Guatemala's beef and buffalo meat production has increased for the second year in a row. In 2020, the country produced 211.4 thousand tons, marking a modest 2.0% rise from 2019. Looking at the period from 2017 to 2020, production grew by 2.9%, which translates to an average annual growth rate of 1.0%. The lowest production level was recorded in 2018 at 201.0 thousand tons, when output fell by 2.1%. In contrast, 2019 saw the largest increase of 3.1%.

Annual dynamics of production in Guatemala in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Guatemala's beef and buffalo meat production has increased for the second consecutive year. In 2020, the value of this output reached 1,002 million US dollars, up by 11.9% from the previous year. From 2017 to 2020, production value rose by 10.2%, equivalent to an average annual growth rate of 3.3%. The lowest value was recorded in 2018 at 891 million US dollars, when it declined by 2.0%.

Annual dynamics of production in Guatemala in value, 2017-2020, M $ US

Exports beef and buffalo meat from Guatemala

Exports in kind, t

Following two years of growth, Guatemala's beef and buffalo meat exports declined. In 2020, export volume dropped to 1,251 tons, a sharp decrease of 34.8% compared to 2019. The highest export volume was recorded in 2019 at 1,920 tons, which represented a significant increase of 32.8%.

Annual dynamics of product's exports from Guatemala in kind, 2017-2020, t

From 2017 to 2020, El Salvador was the leading destination for Guatemala's beef and buffalo meat exports in volume terms, accounting for 75.3% of total flows, with the remainder distributed among other partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Guatemala in kind, 2017-2020

Exports in value, K $ US

After two years of improvement, Guatemala's beef and buffalo meat exports declined. In 2020, exports fell to 5,933 thousand US dollars, an abrupt drop of 28.5% from 2019. Over the period from 2017 to 2020, exports increased by 8.2%, with an average annual growth rate of 2.7%. The peak value was recorded in 2019 at 8,298 thousand US dollars, when exports surged by 29.5%.

Annual dynamics of product's exports from Guatemala in value, 2017-2020, K $ US

From 2017 to 2020, El Salvador remained the key destination for Guatemala's beef and buffalo meat exports in value terms, accounting for 76.3% of total exports, while other destinations were much less significant.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Guatemala in value, 2017-2020

Imports beef and buffalo meat to Guatemala

Imports in kind, t

After two years of growth, Guatemala's beef and buffalo meat imports declined. In 2020, import volume stood at 14,831 tons, indicating a significant drop of 16.3% compared to 2019. Between 2017 and 2020, imports decreased by 4.5%, equating to an average annual decline of 1.5%. The highest import volume was recorded in 2019 at 17,728 tons, which saw an increase of 9.8%.

Annual dynamics of product's imports to Guatemala in kind, 2017-2020, t

From 2017 to 2020, Nicaragua and the United States dominated Guatemala's beef and buffalo meat imports in volume terms, together accounting for 84.1% of total flows, with other destinations making smaller individual contributions.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Guatemala in kind, 2017-2020

Imports in value, K $ US

After two years of growth, Guatemala's beef and buffalo meat imports declined. In 2020, imports fell to 70,062 thousand US dollars, representing a strong drop of 17.1% from 2019. The peak value was recorded in 2019 at 84,561 thousand US dollars, when imports increased by 10.0%.

Annual dynamics of product's imports to Guatemala in value, 2017-2020, K $ US

From 2017 to 2020, the United States and Nicaragua were the main sources for Guatemala's beef and buffalo meat imports in value terms, jointly taking 87.3% of total flows, while the remaining share was split among other markets.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Guatemala in value, 2017-2020