Chile: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Chile

In 2021, the Chilean frozen cuttlefishes market decreased by -1% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption, however, posted a significant expansion. Over the period under review, the market attained the peak level at $X in 2020, and then declined slightly in the following year.

Frozen Cuttlefishes Production in Chile

In value terms, frozen cuttlefishes production reduced modestly to $X in 2021 estimated in export price. In general, production, however, saw a resilient increase. The growth pace was the most rapid in 2017 when the production volume increased by 32%. Over the period under review, production reached the peak level at $X in 2020, and then reduced in the following year.

Frozen Cuttlefishes Exports

Exports from Chile

In 2021, exports of frozen cuttlefishes from Chile fell to X tons, reducing by -14.5% compared with the previous year. Over the period under review, exports continue to indicate a dramatic slump. The pace of growth was the most pronounced in 2015 when exports increased by 6,125%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports reduced sharply to $X in 2021. Overall, exports showed a significant contraction. The growth pace was the most rapid in 2015 with an increase of 7,516% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for frozen cuttlefishes exports from Chile, accounting for a 39% share of total exports. Moreover, frozen cuttlefishes exports to Russia exceeded the volume sent to the second major destination, the Philippines (X tons), twofold. The third position in this ranking was held by Vietnam (X tons), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled -30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-25.9% per year) and Vietnam (-36.2% per year).

In value terms, Vietnam ($X) remains the key foreign market for frozen cuttlefishes exports from Chile, comprising 42% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 9% share of total exports. It was followed by Ukraine, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-11.5% per year) and Ukraine (-19.3% per year).

Export Prices by Country

In 2021, the average frozen cuttlefishes export price amounted to $X per ton, which is down by -2.8% against the previous year. Over the period under review, the export price, however, continues to indicate a significant increase. The pace of growth was the most pronounced in 2017 an increase of 67%. The export price peaked at $X per ton in 2020, and then dropped modestly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to Russia ($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 Vietnam (+39.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Chile

Frozen cuttlefishes imports into Chile surged to X tons in 2021, growing by 25% on the previous year's figure. In general, imports, however, faced a sharp contraction. The pace of growth was the most pronounced in 2014 with an increase of 91%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, frozen cuttlefishes imports totaled $X in 2021. Overall, imports, however, continue to indicate a sharp decrease. The pace of growth appeared the most rapid in 2014 with an increase of 86%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Peru (X tons) and Uruguay (X tons) were the main suppliers of frozen cuttlefishes imports to Chile, together accounting for 89% of total imports.

From 2012 to 2021, the biggest increases were recorded for Uruguay (with a CAGR of -3.0%), while purchases for the other leaders experienced a decline.

In value terms, the largest frozen cuttlefishes suppliers to Chile were Peru ($X), China ($X) and Uruguay ($X), with a combined 86% share of total imports.

Uruguay, with a CAGR of -6.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, which is down by -15.7% against the previous year. In general, the import price saw a abrupt decline. The pace of growth appeared the most rapid in 2013 an increase of 22% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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