Brazil: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Brazil

The Brazilian fresh fish fillet market reduced slightly to $X in 2021, remaining constant against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Fresh Fish Fillet Production in Brazil

In value terms, fresh fish fillet production expanded to $X in 2021 estimated in export price. In general, production recorded a slight curtailment. The most prominent rate of growth was recorded in 2016 when the production volume increased by 22%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Fresh Fish Fillet Exports

Exports from Brazil

In 2021, shipments abroad of fresh or chilled fish fillets increased by 2.2% to X tons, rising for the third consecutive year after two years of decline. Overall, exports saw a significant increase. The growth pace was the most rapid in 2016 when exports increased by 447%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, fresh fish fillet exports shrank to $X in 2021. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2016 with an increase of 437% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for fresh fish fillet exports from Brazil, with a 82% share of total exports. Moreover, fresh fish fillet exports to the United States exceeded the volume sent to the second major destination, South Africa (X tons), sevenfold. The third position in this ranking was held by Canada (X tons), with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+58.7% per year) and Canada (+87.7% per year).

In value terms, the United States ($X) remains the key foreign market for fresh or chilled fish fillets exports from Brazil, comprising 92% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.3% share of total exports. It was followed by South Africa, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +33.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+79.7% per year) and South Africa (+80.3% per year).

Export Prices by Country

The average fresh fish fillet export price stood at $X per ton in 2021, which is down by -7.4% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 25%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Africa ($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 South Africa (+13.6%), while the prices for the other major destinations experienced mixed trend patterns.

Fresh Fish Fillet Imports

Imports into Brazil

For the fourth year in a row, Brazil recorded decline in supplies from abroad of fresh or chilled fish fillets, which decreased by -16% to X tons in 2021. In general, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 151%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, fresh fish fillet imports expanded markedly to $X in 2021. Over the period under review, imports, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 254% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Chile (X tons) was the main supplier of fresh fish fillet to Brazil, with a 99% share of total imports. It was followed by China (X tons), with a 1.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Chile totaled +1.6%.

In value terms, Chile ($X) constituted the largest supplier of fresh or chilled fish fillets to Brazil, comprising 99% of total imports. The second position in the ranking was taken by China ($X), with a 0.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile stood at +6.1%.

Import Prices by Country

In 2021, the average fresh fish fillet import price amounted to $X per ton, with an increase of 35% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 an increase of 41% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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