Colombia: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Colombia

In 2021, the Colombian battered fish fillet market decreased by -17.5% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption showed a noticeable decrease. The pace of growth was the most pronounced in 2019 when the market value increased by 9.8%. Battered fish fillet consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Battered Fish Fillet Production in Colombia

In value terms, battered fish fillet production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a deep downturn. The growth pace was the most rapid in 2020 when the production volume increased by 17%. Battered fish fillet production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Battered Fish Fillet Exports

Exports from Colombia

In 2021, shipments abroad of fish fillets in batter or breadcrumbs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 100%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, battered fish fillet exports skyrocketed to $X in 2021. Overall, exports, however, saw a precipitous shrinkage. The pace of growth appeared the most rapid in 2013 when exports increased by 100%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for battered fish fillet exports from Colombia, with a 90% share of total exports. Moreover, battered fish fillet exports to the United States exceeded the volume sent to the second major destination, Aruba (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -13.3%.

In value terms, the United States ($X) remains the key foreign market for fish fillets in batter or breadcrumbs exports from Colombia, comprising 95% of total exports. The second position in the ranking was held by Aruba ($X), with a 3.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -21.9%.

Export Prices by Country

In 2021, the average battered fish fillet export price amounted to $X per ton, rising by 8.6% against the previous year. Overall, the export price, however, faced a abrupt slump. The pace of growth was the most pronounced in 2020 when the average export price increased by 12%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Aruba amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-9.9%).

Battered Fish Fillet Imports

Imports into Colombia

In 2021, supplies from abroad of fish fillets in batter or breadcrumbs decreased by -30.2% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 99% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, battered fish fillet imports contracted markedly to $X in 2021. In general, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2018 when imports increased by 73% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest supplier of battered fish fillet to Colombia, with a 76% share of total imports. Moreover, battered fish fillet imports from Ecuador exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from Ecuador amounted to +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.7% per year) and Chile (+45.0% per year).

In value terms, the largest battered fish fillet suppliers to Colombia were Ecuador ($X), China ($X) and Chile ($X), together accounting for 98% of total imports.

Among the main suppliers, Chile, with a CAGR of +40.5%, recorded the highest rates of growth with regard to 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

The average battered fish fillet import price stood at $X per ton in 2021, dropping by -14% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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