Argentina: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Argentina

In 2021, the Argentinian preserved anchovies market decreased by -2.4% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.3% against 2015 indices. Preserved anchovies consumption peaked at $X in 2020, and then shrank in the following year.

Preserved Anchovies Production in Argentina

In value terms, preserved anchovies production dropped to $X in 2021 estimated in export price. Overall, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +64.5% against 2015 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 30% against the previous year. Preserved anchovies production peaked at $X in 2020, and then dropped in the following year.

Preserved Anchovies Exports

Exports from Argentina

In 2021, the amount of anchovies (prepared or preserved) exported from Argentina contracted sharply to X tons, shrinking by -86.4% against the year before. Over the period under review, exports faced a sharp slump. The pace of growth appeared the most rapid in 2020 with an increase of 119%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved anchovies exports fell rapidly to $X in 2021. In general, exports showed a precipitous decline. The most prominent rate of growth was recorded in 2020 when exports increased by 152% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Albania (X tons) was the main destination for preserved anchovies exports from Argentina, accounting for a 40% share of total exports. Moreover, preserved anchovies exports to Albania exceeded the volume sent to the second major destination, Italy (X tons), twofold. The United States (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Albania amounted to -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-30.8% per year) and the United States (-31.9% per year).

In value terms, Albania ($X), the United States ($X) and Venezuela ($X) constituted the largest markets for preserved anchovies exported from Argentina worldwide, together comprising 77% of total exports.

Albania, with a CAGR of +4.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average preserved anchovies export price stood at $X per ton in 2021, which is down by -33.9% against the previous year. In general, the export price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 an increase of 49% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then reduced dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Albania (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Argentina

In 2021, preserved anchovies imports into Argentina expanded rapidly to X kg, growing by 11% on the year before. In general, imports, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2018 with an increase of 254% against the previous year. Imports peaked at X kg in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, preserved anchovies imports expanded markedly to $X in 2021. Overall, imports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 when imports increased by 269% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X kg) constituted the largest preserved anchovies supplier to Argentina, accounting for a 89% share of total imports. Moreover, preserved anchovies imports from Spain exceeded the figures recorded by the second-largest supplier, South Korea (X kg), eightfold.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +18.5%.

In value terms, Spain ($X) constituted the largest supplier of anchovies (prepared or preserved) to Argentina, comprising 80% of total imports. The second position in the ranking was held by South Korea ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +19.7%.

Import Prices by Country

The average preserved anchovies import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price saw a slight decrease. The pace of growth was the most pronounced in 2015 when the average import price increased by 6.7% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Spain stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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