Colombia: Frozen Freshwater Fish Market 2024

Frozen Freshwater Fish Market Size in Colombia

The Colombian frozen freshwater fish market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +11.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Frozen Freshwater Fish Exports

Exports from Colombia

After four years of growth, shipments abroad of frozen freshwater fish decreased by -58.8% to X tons in 2021. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 337% against the previous year. As a result, the exports attained the peak of X tons, and then shrank notably in the following year.

In value terms, frozen freshwater fish exports reduced markedly to $X in 2021. Over the period under review, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 320% against the previous year. As a result, the exports reached the peak of $X, and then shrank sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for frozen freshwater fish exports from Colombia, with a 83% share of total exports. Moreover, frozen freshwater fish exports to the United States exceeded the volume sent to the second major destination, Aruba (X tons), ninefold. The third position in this ranking was taken by Chile (X tons), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+703.2% per year) and Chile (+26.6% per year).

In value terms, the United States ($X) remains the key foreign market for frozen freshwater fish exports from Colombia, comprising 77% of total exports. The second position in the ranking was taken by Aruba ($X), with a 10% share of total exports. It was followed by Chile, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+497.3% per year) and Chile (+43.0% per year).

Export Prices by Country

In 2021, the average frozen freshwater fish export price amounted to $X per ton, increasing by 3.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2013 an increase of 30% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per ton), while the average price for exports to the United States ($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 Chile (+13.0%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Freshwater Fish Imports

Imports into Colombia

In 2021, approx. X tons of frozen freshwater fish were imported into Colombia; surging by 29% against the previous year's figure. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +11.5% 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 56% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, frozen freshwater fish imports soared to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +11.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 65%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of frozen freshwater fish to Colombia, with a 54% share of total imports. Moreover, frozen freshwater fish imports from Vietnam exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), threefold. Argentina (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Vietnam totaled +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (+17.9% per year) and Argentina (+2.9% per year).

In value terms, Vietnam ($X) constituted the largest supplier of frozen freshwater fish to Colombia, comprising 48% of total imports. The second position in the ranking was taken by Uruguay ($X), with a 21% share of total imports. It was followed by Argentina, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Vietnam totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (+17.5% per year) and Argentina (+1.2% per year).

Import Prices by Country

The average frozen freshwater fish import price stood at $X per ton in 2021, surging by 14% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while the price for Argentina ($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 (+6.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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