Colombia: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Colombia

In 2021, the Colombian fresh fish fillet market decreased by -1.4% to $X, falling for the fourth year in a row after two years of growth. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Fresh fish fillet consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Fresh Fish Fillet Production in Colombia

In value terms, fresh fish fillet production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 32%. Fresh fish fillet production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Fresh Fish Fillet Exports

Exports from Colombia

In 2021, the amount of fresh or chilled fish fillets exported from Colombia rose sharply to X tons, surging by 6.7% against the previous year. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 39%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, fresh fish fillet exports totaled $X in 2021. In general, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 44% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons) was the main destination for fresh fish fillet exports from Colombia, accounting for a 83% share of total exports. Moreover, fresh fish fillet exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+17.0% per year) and Peru (+91.2% per year).

In value terms, the United States ($X) remains the key foreign market for fresh or chilled fish fillets exports from Colombia, comprising 78% of total exports. The second position in the ranking was held by Canada ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+19.2% per year) and Peru (+86.6% per year).

Export Prices by Country

The average fresh fish fillet export price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 9%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States ($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 (+1.8%), while the prices for the other major destinations experienced a decline.

Fresh Fish Fillet Imports

Imports into Colombia

In 2021, overseas purchases of fresh or chilled fish fillets increased by 51% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports recorded a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fresh fish fillet imports skyrocketed to $X in 2021. Overall, imports posted a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 55% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Chile (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of fresh fish fillet imports to Colombia, with a combined 96% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +37.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Chile ($X) constituted the largest supplier of fresh or chilled fish fillets to Colombia, comprising 89% of total imports. The second position in the ranking was held by China ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile totaled +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.5% per year) and Vietnam (-25.5% per year).

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 33%. The import price peaked at $X per ton in 2017; however, from 2018 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 Chile ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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