Brazil: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Brazil

For the eighth consecutive year, the Brazilian preserved mackerel market recorded growth in sales value, which increased by 3.4% to $X in 2021. Over the period under review, consumption, however, saw a deep setback. Preserved mackerel consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Preserved Mackerel Production in Brazil

In value terms, preserved mackerel production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2018 with an increase of 23%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Preserved Mackerel Exports

Exports from Brazil

In 2021, overseas shipments of mackerel (prepared or preserved) decreased by -10.7% to X tons, falling for the second consecutive year after six years of growth. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2019 with an increase of 765% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved mackerel exports reduced to $X in 2021. Overall, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2019 with an increase of 973%. The exports peaked at $X in 2020, and then dropped in the following year.

Exports by Country

Nigeria (X tons) was the main destination for preserved mackerel exports from Brazil, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria amounted to +60.3%.

In value terms, Nigeria ($X) also remains the key foreign market for mackerel (prepared or preserved) exports from Brazil.

From 2012 to 2021, the average annual rate of growth in terms of value to Nigeria amounted to +50.4%.

Export Prices by Country

The average preserved mackerel export price stood at $X per ton in 2021, with an increase of 2.6% against the previous year. Overall, the export price, however, continues to indicate a drastic downturn. The growth pace was the most rapid in 2019 an increase of 24%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -6.1% per year.

Preserved Mackerel Imports

Imports into Brazil

In 2020, supplies from abroad of mackerel (prepared or preserved) increased by 22% to X tons, rising for the third consecutive year after three years of decline. Overall, imports saw a mild increase. The pace of growth was the most pronounced in 2019 with an increase of 90% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2020, imports failed to regain momentum.

In value terms, preserved mackerel imports skyrocketed to $X in 2020. In general, imports continue to indicate a noticeable increase. The growth pace was the most rapid in 2019 when imports increased by 89% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2020, imports failed to regain momentum.

Imports by Country

In 2020, Spain (X kg) constituted the largest preserved mackerel supplier to Brazil, with a 68% share of total imports. Moreover, preserved mackerel imports from Spain exceeded the figures recorded by the second-largest supplier, Portugal (X kg), fourfold. The third position in this ranking was held by South Korea (X kg), with a 12% share.

From 2012 to 2020, the average annual growth rate of volume from Spain stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-8.1% per year) and South Korea (+10.4% per year).

In value terms, Spain ($X) constituted the largest supplier of mackerel (prepared or preserved) to Brazil, comprising 70% of total imports. The second position in the ranking was taken by Portugal ($X), with a 20% share of total imports. It was followed by Japan, with a 6.2% share.

From 2012 to 2020, the average annual rate of growth in terms of value from Spain totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-7.6% per year) and Japan (-11.6% per year).

Import Prices by Country

The average preserved mackerel import price stood at $X per ton in 2020, increasing by 14% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2020: its price increased at an average annual rate of +1.1% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, preserved mackerel import price increased by +120.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 68% against the previous year. Over the period under review, average import prices attained the maximum in 2020 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 2020, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Japan (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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