Prepared or preserved beef and offal market in South America

Earlier Report Observations

The market for prepared or preserved beef and offal in South America began at 36.3 thousand tons in 2018, with Brazil's beef sector benefiting from vast arable land, favorable climate, and high international demand, supported by investments in technology and the SISBOV traceability system. The market volume then rose to 41.7 thousand tons in 2019, but fell to 29.3 thousand tons in 2020.

Recovery followed in 2021, reaching 36.4 thousand tons. A significant jump to 55.0 thousand tons occurred in 2022, fueled by strong global demand and rising incomes that stimulated Brazilian production. In 2023, the market surged to 78.2 thousand tons as Brazilian beef output increased by 11.2% due to record slaughter volumes and lower calf prices, while export growth moderated, boosting domestic supply. Additionally, production challenges in the U.S. and Europe, including avian flu and the Russia-Ukraine war, heightened demand for Brazilian beef.

Production prepared or preserved beef and offal in South America

In kind, 2017-2020, K t

Top producers of prepared or preserved beef and offal, 2017-2020

World map of production of prepared or preserved beef and offal, 2017-2020

South America's production of prepared or preserved beef and offal declined after two consecutive years of growth. In 2019, output reached its peak at 176.5 thousand tons, but then fell slightly by 0.7% to 175.4 thousand tons in 2020. Over the period from 2017 to 2020, production increased by 2.3%, which translates to an average annual growth rate of 0.8%. The most significant year-on-year increase occurred in 2018, when production rose by 1.7%.

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

In value, 2017-2020, M $ US

In 2020, the value of prepared or preserved beef and offal production in South America dropped by 5.2% year-over-year to 879.9 million US dollars. This followed a peak in 2019, when output was valued at 927.8 million US dollars. The largest annual increase was recorded in 2019, with a rise of 5.1%.

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

Exports prepared or preserved beef and offal from South America

Exports in kind, K t

South America's exports of prepared or preserved beef and offal increased by 6.7% year-over-year in 2020, reaching 150.3 thousand tons. Over the four-year period from 2017 to 2020, exports grew by 23.1%, with a compound annual growth rate of 7.2%. The largest decline occurred in 2019, when exports fell by 0.7%, while the most significant increase was in 2018, with a jump of 16.2%.

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

From 2017 to 2020, the United States, Hong Kong, and the United Kingdom were the leading destinations for South America's exports of prepared or preserved beef and offal in volume terms. The United States accounted for 28.7% of exports, Hong Kong for 19.3%, and the United Kingdom for 15.8%. Together, these three markets represented 63.9% of total export flows.

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 exports of prepared or preserved beef and offal in value terms grew for the third consecutive year in 2020, reaching 753.9 million US dollars, which marked a modest increase of 1.8% from the previous year. Between 2017 and 2020, export value rose by 20%, corresponding to an average annual growth rate of 6.3%.

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

In value terms, the United States, the United Kingdom, and Hong Kong were the top destinations for South America's exports of prepared or preserved beef and offal from 2017 to 2020. The United States held a 46.8% share of export value, followed by the United Kingdom at 13.5% and Hong Kong at 10.9%. Collectively, these three countries accounted for 71.2% of total export flows.

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 prepared or preserved beef and offal to South America

Imports in kind, K t

After two years of growth, South America's imports of prepared or preserved beef and offal in volume terms declined sharply. In 2019, imports peaked at 6.0 thousand tons, but then fell by 29.3% in 2020. Over the period from 2017 to 2020, imports increased by 47.3%, with a compound annual growth rate of 13.8%. The largest year-on-year increase was recorded in 2019, when imports surged by 56.9%.

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

From 2017 to 2020, Mexico, the United States, and Spain were the key suppliers for South America's imports of prepared or preserved beef and offal in volume terms. Mexico accounted for 7.4% of imports, the United States for 7.2%, and Spain for 0.8%. Together, these three countries represented 15.4% of total import flows.

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 imports of prepared or preserved beef and offal in value terms increased for the third year in a row in 2020, totaling 28.1 million US dollars, which was a slight rise of 0.6% compared to the previous year. Between 2017 and 2020, import value grew by 32.3%, equating to an average annual growth rate of 9.8%.

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

In value terms, the United States, Mexico, and Spain were the leading suppliers of prepared or preserved beef and offal to South America from 2017 to 2020. The United States accounted for 12.7% of import value, Mexico for 7.6%, and Spain for 1.2%. Combined, these three countries made up 21.5% of total import flows.

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

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