Chile: Preserved Tuna Market 2024

Preserved Tuna Market Size in Chile

The Chilean preserved tuna market expanded slightly to $X in 2021, growing by 3.4% against the previous year. In general, consumption saw a pronounced decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Preserved Tuna Production in Chile

In value terms, preserved tuna production surged to $X in 2021 estimated in export price. Overall, production, however, recorded a deep downturn. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Preserved Tuna Exports

Exports from Chile

Preserved tuna exports from Chile plummeted to X tons in 2021, with a decrease of -37.6% against the previous year. In general, exports faced a dramatic setback. The pace of growth appeared the most rapid in 2015 when exports increased by 535% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, preserved tuna exports declined markedly to $X in 2021. Over the period under review, exports faced a sharp decline. The most prominent rate of growth was recorded in 2015 when exports increased by 395% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for preserved tuna exports from Chile, accounting for a 94% share of total exports. Moreover, preserved tuna exports to New Zealand exceeded the volume sent to the second major destination, Honduras (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+63.6% per year) and Morocco (-97.4% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for tuna (prepared or preserved) exports from Chile, comprising 90% of total exports. The second position in the ranking was held by Morocco ($X), with an 8.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (-92.4% per year) and Honduras (+55.4% per year).

Export Prices by Country

In 2021, the average preserved tuna export price amounted to $X per ton, growing by 8.6% against the previous year. Over the period under review, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved tuna export price increased by +73.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 60%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to Honduras ($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 Morocco (+194.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Chile

In 2021, overseas purchases of tuna (prepared or preserved) decreased by -16.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 51%. Over the period under review, imports hit record highs at X tons in 2020, and then dropped dramatically in the following year.

In value terms, preserved tuna imports contracted to $X in 2021. In general, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 58%. Imports peaked at $X in 2020, and then declined in the following year.

Imports by Country

Thailand (X tons), Ecuador (X tons) and China (X tons) were the main suppliers of preserved tuna imports to Chile, with a combined 90% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +59.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Ecuador ($X) and China ($X) were the largest preserved tuna suppliers to Chile, together accounting for 88% of total imports.

Among the main suppliers, China, with a CAGR of +51.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved tuna import price amounted to $X per ton, surging by 5.3% against the previous year. Overall, the import price, however, continues to indicate a pronounced reduction. The growth pace was the most rapid in 2017 an increase of 8.9% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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