Lard Market Overview in Barbados
In value terms, lard production fell to $ in 2019 estimated in export prices. Over the period under review, production showed a noticeable descent. The pace of growth was the most pronounced in 2017 with an increase of % y-o-y. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to 2019, production remained at a lower figure.
The size of the lard market in Barbados contracted to $ in 2019, shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of % against the previous year. Lard consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.