Colombia: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in Colombia

The Colombian frozen fish meat market skyrocketed to $X in 2021, with an increase of 37% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a slight curtailment. Frozen fish meat consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Frozen Fish Meat Exports

Exports from Colombia

Frozen fish meat exports from Colombia surged to X tons in 2021, rising by 35% against the previous year's figure. In general, exports, however, recorded a dramatic downturn. The growth pace was the most rapid in 2013 when exports increased by 45%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, frozen fish meat exports skyrocketed to $X in 2021. Overall, exports, however, faced a significant decrease. The pace of growth was the most pronounced in 2019 when exports increased by 115% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for frozen fish meat exports from Colombia, accounting for a 87% share of total exports. Moreover, frozen fish meat exports to Ecuador exceeded the volume sent to the second major destination, the Dominican Republic (X kg), ninefold. The third position in this ranking was held by Poland (X kg), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Ecuador totaled -23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-26.3% per year) and Poland (-26.4% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for frozen fish meat exports from Colombia, comprising 69% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 20% share of total exports. It was followed by Poland, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic amounted to -13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-0.8% per year) and Poland (-8.8% per year).

Export Prices by Country

The average frozen fish meat export price stood at $X per ton in 2021, rising by 16% against the previous year. Over the period under review, the export price enjoyed buoyant growth. The growth pace was the most rapid in 2019 an increase of 55%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Ecuador ($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 Ecuador (+29.3%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports into Colombia

For the fourth consecutive year, Colombia recorded growth in supplies from abroad of frozen fish meat, which increased by 88% to X tons in 2021. In general, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish meat imports expanded significantly to $X in 2021. Over the period under review, imports, however, recorded a pronounced downturn. The growth pace was the most rapid in 2019 with an increase of 65%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of frozen fish meat to Colombia, with a 62% share of total imports. Moreover, frozen fish meat imports from Vietnam exceeded the figures recorded by the second-largest supplier, Poland (X tons), sixfold. The third position in this ranking was held by China (X tons), with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume from Vietnam totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+199.4% per year) and China (+15.7% per year).

In value terms, Vietnam ($X) constituted the largest supplier of frozen fish meat to Colombia, comprising 36% of total imports. The second position in the ranking was taken by Poland ($X), with a 13% share of total imports. It was followed by Chile, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Vietnam was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+171.1% per year) and Chile (-12.4% per year).

Import Prices by Country

In 2021, the average frozen fish meat import price amounted to $X per ton, waning by -39.1% against the previous year. Over the period under review, the import price saw a pronounced reduction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 34%. As a result, import price attained the peak level of $X per ton. From 2020 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 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 (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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