Beef and buffalo meat market in South America

Earlier Report Observations

The South American beef and buffalo meat market experienced a multi-year contraction from 2018 to 2021, with volume falling from 12.2 million tons to 10.9 million tons.

A recovery began in 2022, and the market expanded to 12.2 million tons in 2023. This growth was supported by rising consumer demand for premium beef products like certified Angus and an increasing shift toward buffalo meat, which is viewed as a more affordable and leaner alternative. Strong export performance and sustained high international prices further reinforced production and market activity during this period.

Production beef and buffalo meat in South America

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

South America's beef and buffalo meat production saw growth for two years before declining. In 2019, production reached its peak at 14 522 K t. However, in 2020, output fell to 14 060 K t, representing a 3.2% decrease from the previous year. The most significant annual increase occurred in 2018, when production rose by 3.3%.

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

In value, 2017-2020, M $ US

After two years of growth, the value of beef and buffalo meat production in South America dropped. In 2019, production value peaked at 71 509 M $ US, with that year also seeing the largest annual increase of 6.7%. By 2020, the value had declined to 63 395 M $ US, marking an 11.3% decrease compared to 2019.

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

Exports beef and buffalo meat from South America

Exports in kind, K t

South America's beef and buffalo meat exports have grown for three consecutive years. In 2020, exports reached 2 904 K t, showing a strong 13.6% increase from the previous year. Over the 2017-2020 period, exports surged by 48.6%, translating to an average annual growth rate of 14.1%.

Annual dynamics of product's exports from South America in kind, 2017-2020, K t

From 2017 to 2020, China, Hong Kong, and Russia were the main buyers of South American beef and buffalo meat in volume terms. China accounted for 38.8% of exports, Hong Kong for 9.8%, and Russia for 7.2%. Together, these three markets represented 55.8% of total export volumes.

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

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

Exports in value, M $ US

South America's beef and buffalo meat exports have increased in value for the third year in a row. In 2020, export value stood at 13 094 M $ US, reflecting a moderate 4.1% gain compared to 2019. Between 2017 and 2020, export value grew by 43.6%, equivalent to an annualized rate of 12.8%.

Annual dynamics of product's exports from South America in value, 2017-2020, M $ US

During 2017-2020, China, Hong Kong, and Russia formed the core markets for South American beef and buffalo meat exports in value terms. China's share was 39.1%, Hong Kong's was 8.3%, and Russia's was 5.5%. Collectively, these three destinations accounted for 52.9% of total export value.

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

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

Imports beef and buffalo meat to South America

Imports in kind, K t

South America's beef and buffalo meat imports have declined for two consecutive years. In 2018, imports peaked at 90 K t, with that year also recording the largest annual increase of 52.2%. By 2020, imports had fallen to 31 K t, a steep 60.6% drop from 2019. Over the 2017-2020 period, imports decreased by 47%, with an average annual decline of 19.1%.

Annual dynamics of product's imports to South America in kind, 2017-2020, K t

From 2017 to 2020, the United States and Nicaragua were the primary sources for beef and buffalo meat imports to South America in volume terms. Together, these two markets accounted for 5.1% of total import volumes.

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

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

Imports in value, M $ US

South America's beef and buffalo meat import value showed mixed trends from 2017 to 2020. In 2018, import value reached its highest point at 1 566 M $ US, with that year also seeing the largest annual increase of 9.1%. In 2019, import value experienced its largest decline of 2.1%. By 2020, import value stood at 1 547 M $ US, a slight 0.9% increase from 2019. Over the entire period, import value rose by 7.7%, averaging 2.5% growth per year.

Annual dynamics of product's imports to South America in value, 2017-2020, M $ US

Throughout 2017-2020, the United States, Nicaragua, and Australia were the key markets for beef and buffalo meat imports to South America in value terms. Together, these three sources represented 8.2% of total import value.

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

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