Chile: Preserved Salmon Market 2024

Preserved Salmon Market Size in Chile

After two years of decline, the Chilean preserved salmon market increased by 28% to $X in 2021. In general, consumption showed a relatively flat trend pattern. Preserved salmon consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Preserved Salmon Production in Chile

In value terms, preserved salmon production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +71.9% against 2016 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 51% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then reduced modestly in the following year.

Preserved Salmon Exports

Exports from Chile

In 2021, shipments abroad of salmon (prepared or preserved) decreased by -31.3% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, posted temperate growth. The most prominent rate of growth was recorded in 2018 with an increase of 329%. Over the period under review, the exports attained the maximum at X tons in 2020, and then plummeted in the following year.

In value terms, preserved salmon exports dropped notably to $X in 2021. Overall, exports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 428%. The exports peaked at $X in 2020, and then shrank significantly in the following year.

Exports by Country

The United States (X tons) was the main destination for preserved salmon exports from Chile, with a 79% share of total exports. Moreover, preserved salmon exports to the United States exceeded the volume sent to the second major destination, Jamaica (X tons), more than tenfold. Colombia (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+33.2% per year) and Colombia (+41.7% per year).

In value terms, the United States ($X) remains the key foreign market for salmon (prepared or preserved) exports from Chile, comprising 80% of total exports. The second position in the ranking was taken by Jamaica ($X), with a 6% share of total exports. It was followed by Colombia, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+27.9% per year) and Colombia (+34.6% per year).

Export Prices by Country

In 2021, the average preserved salmon export price amounted to $X per ton, increasing by 4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 23%. The export price peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Colombia ($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 Canada (+7.6%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Salmon Imports

Imports into Chile

In 2021, the amount of salmon (prepared or preserved) imported into Chile fell notably to X kg, which is down by -95.7% against 2020. Overall, imports showed a dramatic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 1,283%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, preserved salmon imports contracted rapidly to $X in 2021. In general, imports continue to indicate a precipitous decline. The growth pace was the most rapid in 2015 when imports increased by 822% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Costa Rica (X kg) was the main preserved salmon supplier to Chile, accounting for a approx. 97% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Costa Rica amounted to -43.3%.

In value terms, Costa Rica ($X) constituted the largest supplier of salmon (prepared or preserved) to Chile.

From 2012 to 2021, the average annual rate of growth in terms of value from Costa Rica totaled -49.2%.

Import Prices by Country

The average preserved salmon import price stood at $X per ton in 2021, declining by -62.7% against the previous year. In general, the import price showed a deep reduction. The pace of growth was the most pronounced in 2013 an increase of 56% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Costa Rica.

From 2012 to 2021, the rate of growth in terms of prices for Costa Rica amounted to -10.4% per year.

Source: IndexBox Platform

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