Argentina: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Argentina

In 2021, after five years of growth, there was significant decline in the Argentinian frozen cuttlefishes market, when its value decreased by -13.6% to $X. In general, consumption, however, continues to indicate significant growth. Over the period under review, the market attained the peak level at $X in 2020, and then shrank in the following year.

Frozen Cuttlefishes Production in Argentina

In value terms, frozen cuttlefishes production dropped to $X in 2021 estimated in export price. In general, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 32%. Frozen cuttlefishes production peaked at $X in 2020, and then declined in the following year.

Frozen Cuttlefishes Exports

Exports from Argentina

In 2021, overseas shipments of frozen cuttlefishes were finally on the rise to reach X tons after five years of decline. In general, exports, however, saw a precipitous descent. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a precipitous curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for frozen cuttlefishes exports from Argentina, accounting for a 52% share of total exports. Moreover, frozen cuttlefishes exports to Thailand exceeded the volume sent to the second major destination, Brazil (X tons), threefold. The third position in this ranking was taken by Venezuela (X tons), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand totaled -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-4.0% per year) and Venezuela (-23.2% per year).

In value terms, Venezuela ($X), Thailand ($X) and Brazil ($X) appeared to be the largest markets for frozen cuttlefishes exported from Argentina worldwide, with a combined 68% share of total exports. These countries were followed by the United States, China, Iceland, South Korea and Indonesia, which together accounted for a further 21%.

Iceland, with a CAGR of +7.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average frozen cuttlefishes export price amounted to $X per ton, waning by -12.5% against the previous year. Overall, the export price, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 36% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably country of destination: the country with the highest price was Venezuela ($X per ton), while the average price for exports to Thailand ($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 China (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Argentina

In 2021, the amount of frozen cuttlefishes imported into Argentina declined dramatically to X tons, reducing by -82.9% on the previous year. Overall, imports faced a sharp curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 46%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, frozen cuttlefishes imports fell significantly to $X in 2021. Over the period under review, imports saw a sharp reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 87% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Chile (X tons), Peru (X tons) and Portugal (X tons) were the main suppliers of frozen cuttlefishes imports to Argentina, with a combined 92% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of -26.4%), while purchases for the other leaders experienced a decline.

In value terms, the largest frozen cuttlefishes suppliers to Argentina were Chile ($X), Peru ($X) and Portugal ($X), together accounting for 95% of total imports.

Among the main suppliers, Peru, with a CAGR of -22.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, remaining constant against the previous year. In general, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes import price increased by +9.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 36% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Peru ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+12.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :