Lard Market Overview in Barbados
In value terms, lard production fell sharply to $ in 2019 estimated in export prices. Over the period under review, production saw a precipitous descent. The growth pace was the most rapid in 2018 with an increase of % y-o-y. As a result, production attained the peak level of $, and then dropped dramatically in the following year.
The revenue of the lard market in Barbados shrank to $ in 2019, declining 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). Overall, consumption recorded a mild curtailment. The pace of growth was the most pronounced in 2018 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2012; however, from 2013 to 2019, consumption failed to regain the momentum.