Argentina: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Argentina

The Argentinian frozen norway lobster market contracted to $X in 2022, which is down by -10.5% against the previous year. In general, consumption showed a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Frozen Norway Lobster Production in Argentina

In value terms, frozen norway lobster production reached $X in 2022 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 -2.4% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 30% against the previous year. Frozen norway lobster production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Frozen Norway Lobster Exports

Exports from Argentina

Frozen norway lobster exports from Argentina stood at X tons in 2022, picking up by 6.5% compared with the previous year's figure. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 when exports increased by 203%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, frozen norway lobster exports stood at $X in 2022. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 282%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Morocco (X tons) was the main destination for frozen norway lobster exports from Argentina, with a 97% share of total exports. It was followed by Montenegro (X kg), with a 1.3% share of total exports. Slovenia (X kg) ranked third in terms of total exports with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Morocco amounted to +36.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (-63.3% per year) and Slovenia (-3.6% per year).

In value terms, Morocco ($X) emerged as the key foreign market for frozen norway lobsters exports from Argentina, comprising 95% of total exports. The second position in the ranking was held by Montenegro ($X), with a 1.8% share of total exports. It was followed by Slovenia, with a 0.8% share.

From 2012 to 2022, the average annual growth rate of value to Morocco totaled +38.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (-53.9% per year) and Slovenia (-8.0% per year).

Export Prices by Country

The average frozen norway lobster export price stood at $X per ton in 2022, with an increase of 3.3% against the previous year. In general, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen norway lobster export price decreased by -2.8% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 60% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Montenegro ($X per ton) and Morocco ($X per ton), while the average price for exports to Slovenia ($X per ton) and Serbia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (+25.7%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports into Argentina

Frozen norway lobster imports into Argentina shrank slightly to X kg in 2022, waning by -2.9% on 2021. In general, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 197% against the previous year. Imports peaked at X kg in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, frozen norway lobster imports fell to $X in 2022. Overall, imports, however, posted a notable increase. The growth pace was the most rapid in 2014 when imports increased by 116% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X kg) was the main frozen norway lobster supplier to Argentina, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to +9.8%.

In value terms, Spain ($X) constituted the largest supplier of frozen norway lobsters to Argentina.

From 2012 to 2022, the average annual growth rate of value from Spain totaled +2.6%.

Import Prices by Country

In 2022, the average frozen norway lobster import price amounted to $X per ton, reducing by -10.6% against the previous year. Over the period under review, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 28%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to -6.6% per year.

Source: IndexBox Platform

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