Pig fat free of lean meat and poultry fat market in Caribbean

Earlier Report Observations

The market for pig fat free of lean meat and poultry fat in the Caribbean showed considerable volatility between 2018 and 2023. Starting at 35 017 tons in 2018, market volume dipped slightly to 33 999 tons the following year before a steep drop to 26 724 tons in 2020.

A partial recovery took place over the next two years, with the market reaching 30 359 tons in 2022. However, in 2023 volume collapsed to just 16 987 tons, marking the lowest point in the period and erasing previous gains.

Production pig fat free of lean meat and poultry fat in Caribbean

In kind, 2017-2020, t

Top producers of pig fat free of lean meat and poultry fat, 2017-2020

World map of production of pig fat free of lean meat and poultry fat, 2017-2020

In 2020, Caribbean produced 23 996 tons of pig fat free of lean meat and poultry fat, marking a 24.0% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 23.4%, with an average annual decline of 8.5%. The highest production level was in 2019 at 31 561 tons, which saw a modest increase of 1.0% that year.

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

Exports pig fat free of lean meat and poultry fat from Caribbean

Exports in kind, t

In 2020, Caribbean exported 0.2 tons of pig fat free of lean meat and poultry fat, a sharp drop of 69.2% compared to 2019. Over the 2017-2020 period, exports decreased by 80.6%, with an average annual decline of 42.1%. The largest increase occurred in 2019, when exports rose by 69.2%.

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

From 2017 to 2020, the United States, Venezuela, and Germany were the top buyers of pig fat free of lean meat and poultry fat from Caribbean. The United States accounted for 39.3% of exports in kind, Venezuela for 3.1%, and Germany for 2.1%, together making up 44.5% of total exports.

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

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

Exports in value, K $ US

The export market showed volatility during the observed period. In 2020, Caribbean's exports of pig fat free of lean meat and poultry fat totaled 1 thousand US dollars, a decline of 62.7% from 2019. The lowest value was in 2018 at 1 thousand US dollars, while the peak was in 2019 at 2 thousand US dollars, representing a 2.9-fold difference between these years. The largest decrease was in 2018 at 64.0%, and the largest increase was in 2019 at 194.0%.

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

From 2017 to 2020, the leading destinations for exports in value terms were the United States, Germany, and Venezuela. The United States accounted for 21.9% of exports in value, Germany for 3.5%, and Venezuela for 0.8%, collectively representing 26.2% of total export flows.

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

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

Imports pig fat free of lean meat and poultry fat to Caribbean

Imports in kind, t

In 2020, Caribbean imported 2 439 tons of pig fat free of lean meat and poultry fat, a robust rise of 11.9% from the previous year. Over the 2017-2020 period, imports decreased by 3.5%, with an average annual decline of 1.2%. The minimum import volume was in 2019 at 2 439 tons, while the maximum was in 2018 at 3 758 tons. The largest decline occurred in 2019 at 35.1%, and the largest increase was in 2018 at 32.9%.

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

From 2017 to 2020, the United States was the key supplier of pig fat free of lean meat and poultry fat to Caribbean, accounting for 87.0% of total imports in kind, with other countries making up the remainder.

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

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

Imports in value, K $ US

Imports of pig fat free of lean meat and poultry fat into Caribbean declined for the second consecutive year. In 2020, imports totaled 5 341 thousand US dollars, a moderate reduction of 6.6% from the previous year. Between 2017 and 2020, imports decreased by 5.4%, equating to an annualized decline of 1.8%. The highest value was in 2018 at 6 408 thousand US dollars. The largest decrease was in 2019 at 10.8%, and the largest increase was in 2018 at 13.5%.

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

From 2017 to 2020, the United States was the key supplier of pig fat free of lean meat and poultry fat to Caribbean in value terms, accounting for 86.7% of total imports, with other countries contributing the rest.

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

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