Argentina: Preserved Tuna Market 2024

Preserved Tuna Market Size in Argentina

The Argentinian preserved tuna market expanded markedly to $X in 2021, with an increase of 7.4% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +38.9% against 2016 indices. Preserved tuna consumption peaked in 2021 and is expected to retain growth in years to come.

Preserved Tuna Production in Argentina

In value terms, preserved tuna production reached $X in 2021 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 decreased by -1.8% against 2019 indices. The growth pace was the most rapid in 2014 when the production volume increased by 44% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Tuna Exports

Exports from Argentina

In 2021, approx. X tons of tuna (prepared or preserved) were exported from Argentina; jumping by 19% on 2020 figures. In general, exports showed a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 22% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, preserved tuna exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 65%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Bahamas (X tons) was the main destination for preserved tuna exports from Argentina, accounting for a 87% share of total exports. Moreover, preserved tuna exports to Bahamas exceeded the volume sent to the second major destination, Luxembourg (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Bahamas amounted to +161.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (0.0% per year) and Thailand (+132.5% per year).

In value terms, the largest markets for preserved tuna exported from Argentina were Bahamas ($X), Luxembourg ($X) and Thailand ($X), together accounting for 93% of total exports.

Bahamas, with a CAGR of +173.4%, recorded 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 more modest paces of growth.

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +6.6%. The pace of growth was the most pronounced in 2013 when the average export price increased by 35%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Bahamas ($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 Ecuador (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Argentina

In 2021, approx. X tons of tuna (prepared or preserved) were imported into Argentina; jumping by 31% against the year before. In general, total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +41.1% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 40%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, preserved tuna imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest preserved tuna supplier to Argentina, with a 62% share of total imports. Moreover, preserved tuna imports from Ecuador exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ecuador totaled +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-3.5% per year) and Brazil (-8.3% per year).

In value terms, Ecuador ($X) constituted the largest supplier of tuna (prepared or preserved) to Argentina, comprising 68% of total imports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Ecuador was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-4.4% per year) and Brazil (-9.4% per year).

Import Prices by Country

In 2021, the average preserved tuna import price amounted to $X per ton, picking up by 4.1% against the previous year. Over the period under review, the import price, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2017 an increase of 14%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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