Colombia: Frozen Fish Market 2024

Frozen Fish Market Size in Colombia

In 2022, the Colombian frozen fish market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Frozen Fish Production in Colombia

In value terms, frozen fish production declined to $X in 2022 estimated in export price. Overall, production showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Frozen Fish Exports

Exports from Colombia

Frozen fish exports from Colombia reduced to X tons in 2022, waning by X% compared with 2021. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, frozen fish exports expanded sharply to $X in 2022. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for frozen fish exports from Colombia, with a X% share of total exports. Moreover, frozen fish exports to Ecuador exceeded the volume sent to the second major destination, Guatemala (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and the United States (X% per year).

In value terms, the largest markets for frozen fish exported from Colombia were the United States ($X), Ecuador ($X) and Guatemala ($X), together comprising X% of total exports.

Guatemala, with a CAGR of X%, 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 more modest paces of growth.

Export Prices by Country

In 2022, the average frozen fish export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible descent. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Fish Imports

Imports into Colombia

Frozen fish imports into Colombia declined sharply to X tons in 2022, with a decrease of X% against 2021 figures. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank dramatically in the following year.

In value terms, frozen fish imports shrank slightly to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest frozen fish supplier to Colombia, with a X% share of total imports. Moreover, frozen fish imports from Vietnam exceeded the figures recorded by the second-largest supplier, Chile (X tons), threefold. The third position in this ranking was held by China (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (X% per year) and China (X% per year).

In value terms, Chile ($X), Vietnam ($X) and China ($X) constituted the largest frozen fish suppliers to Colombia, with a combined X% share of total imports. Uruguay, Seychelles, Argentina, Cote d'Ivoire, Ecuador and Senegal lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The average frozen fish import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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