Argentina: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Argentina

The Argentinian inedible fish products market shrank slightly to $X in 2022, remaining stable against the previous year. In general, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.2% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in Argentina

In value terms, inedible fish products production contracted modestly to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 33% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports from Argentina

In 2022, after two years of growth, there was decline in shipments abroad of inedible fish products, when their volume decreased by -2.5% to X tons. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 10,223% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, inedible fish products exports rose rapidly to $X in 2022. Over the period under review, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 11,097%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Norway (X tons) was the main destination for inedible fish products exports from Argentina, accounting for a 64% share of total exports. Moreover, inedible fish products exports to Norway exceeded the volume sent to the second major destination, the United States (X tons), twofold. Chile (X tons) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway amounted to +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+31.8% per year) and Chile (+33.8% per year).

In value terms, Norway ($X) remains the key foreign market for inedible fish products exports from Argentina, comprising 63% of total exports. The second position in the ranking was held by the United States ($X), with a 29% share of total exports. It was followed by Canada, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value to Norway stood at +47.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+41.4% per year) and Canada (+18.6% per year).

Export Prices by Country

In 2022, the average inedible fish products export price amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 53%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Argentina

After two years of growth, purchases abroad of inedible fish products decreased by -34% to X tons in 2022. In general, imports, however, recorded a pronounced increase. The pace of growth was the most pronounced in 2014 with an increase of 71%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, inedible fish products imports reduced dramatically to $X in 2022. Overall, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2014 when imports increased by 74% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped notably in the following year.

Imports by Country

In 2022, Chile (X tons) was the main inedible fish products supplier to Argentina, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile totaled +7.1%.

In value terms, Chile ($X) constituted the largest supplier of inedible fish products to Argentina.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile stood at +11.5%.

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, increasing by 18% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inedible fish products import price increased by +77.8% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for Chile amounted to +4.1% per year.

Source: IndexBox Platform

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