Beef, sheep or goat fat market in Jamaica

Earlier Report Observations

The market for beef, sheep, and goat fat in Jamaica experienced considerable volatility between 2018 and 2023. After starting at 1 293 t, the market volume contracted sharply to 782 t by 2020, representing a significant downturn. This was followed by a strong recovery phase, with the market expanding to 1 357 t in 2022 before a slight moderation to 1 308 t in 2023.

This market movement was primarily driven by changes in import volumes, which fell from 1 128 t in 2018 to 611 t in 2020 and then surged to 1 141 t in 2022. Domestic production showed steady growth throughout the period, rising from 168 t to 219 t, providing a stable base but not enough to offset the larger swings in imported supply.

Production beef, sheep or goat fat in Jamaica

In kind, 2017-2020, t

Top producers of beef, sheep or goat fat, 2017-2020

World map of production of beef, sheep or goat fat, 2017-2020

In 2018, Jamaica's production of beef, sheep, or goat fat reached its lowest point at 168.2 tons. The following year, in 2019, production peaked at 175.2 tons, marking a significant increase of 4.1%. By 2020, production had slightly declined to 171.7 tons, representing a modest 2.0% decrease compared to 2019.

Annual dynamics of production in Jamaica in kind, 2017-2020, t

Exports beef, sheep or goat fat from Jamaica

Exports in kind, t

The export market for beef, sheep, or goat fat from Jamaica showed considerable volatility during this period. In 2020, exports dropped sharply to just 0.2 tons, which is 96.9% lower than the previous year. This contrasts with 2019, when exports reached their highest level at 6 tons, reflecting a substantial increase of 112.9%. The gap between these peak and trough years was a dramatic 33-fold difference.

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

From 2017 to 2020, Saint Lucia was the dominant destination for Jamaica's exports of beef, sheep, or goat fat in kind, accounting for 97.0% of the total export volume.

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

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

Exports in value, K $ US

The export market in value terms was highly unstable over the observed timeframe. In 2020, the value of beef, sheep, or goat fat exports from Jamaica fell to 1 000 US dollars, a sharp decline of 95.6% from the previous year. This low point stands in stark contrast to 2019, when exports peaked at 32 000 US dollars, showing a remarkable increase of 220.5%. The difference between these years was a 23-fold gap.

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

Between 2017 and 2020, Saint Lucia accounted for nearly all of Jamaica's beef, sheep, or goat fat exports in value terms, with a share of 94.6% of the total export flows.

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

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

Imports beef, sheep or goat fat to Jamaica

Imports in kind, t

Jamaica's imports of beef, sheep, or goat fat in kind declined for the second year in a row. In 2020, imports amounted to 611 tons, a steep drop of 30.7% compared to 2019. Looking at the broader period from 2017 to 2020, imports decreased by 34.9%, which translates to an average annual decline of 13.3%. The highest import volume was recorded in 2018 at 1 128 tons, with the largest increase of 20.2% also occurring that year.

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

During the 2017–2020 period, the United States was the leading source of Jamaica's imports of beef, sheep, or goat fat in kind, holding a 70.6% share of the total import volume. The remaining imports were distributed among various other countries, each with smaller individual shares.

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

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

Imports in value, K $ US

Jamaica's imports of beef, sheep, or goat fat in value terms continued to decline for the second consecutive year. In 2020, imports totaled 691 000 US dollars, representing a significant decrease of 29.6% from 2019. Over the four-year span from 2017 to 2020, imports fell by 36.4%, with a compound annual growth rate of -14.0%. The peak import value was in 2018 at 1 334 000 US dollars, accompanied by the largest increase of 22.9% that same year.

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

From 2017 to 2020, the United States and Australia were the main suppliers of beef, sheep, or goat fat to Jamaica in value terms, together accounting for 97.8% of total imports. Other countries contributed the remainder of the import volume.

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

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