Chile: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Chile

The Chilean preserved mackerel market soared to $X in 2021, increasing by 50% against the previous year. The market value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Preserved Mackerel Production in Chile

In value terms, preserved mackerel production rose modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 25%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Preserved Mackerel Exports

Exports from Chile

In 2021, shipments abroad of mackerel (prepared or preserved) decreased by -81.3% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a significant contraction. The pace of growth appeared the most rapid in 2018 with an increase of 21%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved mackerel exports contracted markedly to $X in 2021. Overall, exports saw a sharp decline. The most prominent rate of growth was recorded in 2019 with an increase of 28% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Jamaica (X tons), Singapore (X tons) and the United States (X tons) were the main destinations of preserved mackerel exports from Chile, with a combined 61% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of -9.2%), while the other leaders experienced a decline.

In value terms, the largest markets for preserved mackerel exported from Chile were Jamaica ($X), Singapore ($X) and the United States ($X), with a combined 61% share of total exports.

The United States, with a CAGR of -9.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average preserved mackerel export price stood at $X per ton in 2021, growing by 1.8% against the previous year. Overall, the export price, however, showed a mild decrease. The most prominent rate of growth was recorded in 2013 when the average export price increased by 14% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a 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 Malaysia ($X per ton), while the average price for exports to Democratic Republic of the Congo ($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 Malaysia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Mackerel Imports

Imports into Chile

In 2021, overseas purchases of mackerel (prepared or preserved) increased by 339% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 515% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, preserved mackerel imports soared to $X in 2021. In general, imports showed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest preserved mackerel supplier to Chile, accounting for a 80% share of total imports. Moreover, preserved mackerel imports from China exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), sixfold. The third position in this ranking was taken by Sri Lanka (X tons), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +43.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+106.0% per year) and Sri Lanka (+40.5% per year).

In value terms, China ($X) constituted the largest supplier of mackerel (prepared or preserved) to Chile, comprising 80% of total imports. The second position in the ranking was held by Ecuador ($X), with an 11% share of total imports. It was followed by Sri Lanka, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +45.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+103.5% per year) and Sri Lanka (+39.8% per year).

Import Prices by Country

The average preserved mackerel import price stood at $X per ton in 2021, with an increase of 28% against the previous year. Overall, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Peru ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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