Salted, in brine, dried or smoked beef market in Latin America and the Caribbean

Earlier Report Observations

Between 2018 and 2020, the Latin American and Caribbean market for salted, in brine, dried or smoked beef grew by 65%, reaching 6802 t. This surge was primarily due to a steep decline in exports, which fell by 74% in 2020, making more product available domestically. From 2021 onward, exports recovered strongly, rising by over 400% by 2023, which reduced the local market size to 4480 t.

In 2024, Brazil, a leading producer in the region, opened new export markets in the Caribbean through sanitary agreements, reinforcing its position as a top beef exporter. Simultaneously, record drought conditions and robust domestic demand, fueled by employment growth and higher minimum wages, placed upward pressure on beef prices and influenced supply dynamics.

Production salted, in brine, dried or smoked beef in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of salted, in brine, dried or smoked beef, 2017-2020

World map of production of salted, in brine, dried or smoked beef, 2017-2020

After rising for two years, production of salted, in brine, dried or smoked beef in Latin America and the Caribbean declined. In 2020, the region produced 6 043 tonnes, which was 3.0% lower than in 2019. Over the period from 2017 to 2020, production increased by 5.9%, with a compound annual growth rate of 1.9%. The highest production level was recorded in 2019 at 6 231 tonnes, while the largest year-on-year increase occurred in 2018 at 6.1%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, t

Exports salted, in brine, dried or smoked beef from Latin America and the Caribbean

Exports in kind, t

Exports of salted, in brine, dried or smoked beef from Latin America and the Caribbean declined for the third consecutive year. In 2020, exports totaled 580 tonnes, marking a sharp drop of 74.3% compared to the previous year. Between 2017 and 2020, exports decreased by 89.8%, which translates to an annualized decline of 53.3%.

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

From 2017 to 2020, Angola was the dominant buyer of salted, in brine, dried or smoked beef from Latin America and the Caribbean, accounting for 81.5% of total exports by volume. The remaining exports were distributed among other countries.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

The value of salted, in brine, dried or smoked beef exports from Latin America and the Caribbean fell for the third year in a row. In 2020, exports amounted to 4 773 thousand US dollars, representing a decrease of 57.8% from the previous year. Between 2017 and 2020, export value declined by 84.8%, with an annualized rate of 46.6%.

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

During 2017–2020, Angola accounted for 74.1% of total exports in value terms, while the remaining exports were spread across a broad group of smaller countries.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports salted, in brine, dried or smoked beef to Latin America and the Caribbean

Imports in kind, t

Imports of salted, in brine, dried or smoked beef into Latin America and the Caribbean increased for the third consecutive year. In 2020, the region imported 1 000 tonnes, showing a sharp uptick of 26.0% from 2019. Between 2017 and 2020, imports grew by 46.5%, equating to an annualized increase of 13.6%.

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

From 2017 to 2020, Canada and the United States were the key sources for imports by volume, jointly accounting for 91.9% of total flows. Other partners individually played a much less significant role.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

The value of salted, in brine, dried or smoked beef imports into Latin America and the Caribbean rose for the second consecutive year. In 2020, imports totaled 3 384 thousand US dollars, a 3.4% increase compared to the previous year. Over the period from 2017 to 2020, import value decreased by 13.8%, with a compound annual growth rate of -4.8%. The lowest value was recorded in 2018 at 3 005 thousand US dollars, which also saw the largest decline of 23.5%. The largest increase occurred in 2019 at 8.9%.

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

Over 2017–2020, the United States and Canada clearly dominated the partner structure for imports in value terms, with other countries collectively forming the remaining share.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020