Argentina: Preserved Sardines Market 2024

Preserved Sardines Market Size in Argentina

The Argentinian preserved sardines market dropped to $X in 2022, shrinking by -1.7% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Preserved Sardines Production in Argentina

In value terms, preserved sardines production declined slightly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 18% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Preserved Sardines Exports

Exports from Argentina

Preserved sardines exports from Argentina surged to X tons in 2021, increasing by 30% compared with the previous year. In general, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved sardines exports surged to $X in 2021. Overall, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 28%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Senegal (X tons) was the main destination for preserved sardines exports from Argentina, accounting for a 93% share of total exports. Moreover, preserved sardines exports to Senegal exceeded the volume sent to the second major destination, Saint Vincent and the Grenadines (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Senegal was relatively modest.

In value terms, Senegal ($X) and Saint Vincent and the Grenadines ($X) were the largest markets for preserved sardines exported from Argentina worldwide.

Among the main countries of destination, Senegal, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average preserved sardines export price amounted to $X per ton, shrinking by -2.6% against the previous year. Over the period under review, the export price saw a mild decrease. The pace of growth appeared the most rapid in 2016 a decrease of -1.4%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saint Vincent and the Grenadines ($X per ton), while the average price for exports to Senegal amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saint Vincent and the Grenadines (+22.2%).

Preserved Sardines Imports

Imports into Argentina

In 2022, the amount of sardines (prepared or preserved) imported into Argentina surged to X tons, picking up by 39% against the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 76% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, preserved sardines imports surged to $X in 2022. Over the period under review, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.4% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 61% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest preserved sardines supplier to Argentina, accounting for a 83% share of total imports. Moreover, preserved sardines imports from Thailand exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+6.1% per year) and Spain (+22.8% per year).

In value terms, Thailand ($X) constituted the largest supplier of sardines (prepared or preserved) to Argentina, comprising 81% of total imports. The second position in the ranking was held by Spain ($X), with an 8% share of total imports. It was followed by Ecuador, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+23.0% per year) and Ecuador (+7.1% per year).

Import Prices by Country

The average preserved sardines import price stood at $X per ton in 2022, picking up by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2017 when the average import price increased by 18% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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