Colombia: Preserved Tuna Market 2024

Preserved Tuna Market Size in Colombia

The Colombian preserved tuna market expanded slightly to $X in 2021, picking up by 2.6% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Preserved Tuna Production in Colombia

In value terms, preserved tuna production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt contraction. Preserved tuna production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Preserved Tuna Exports

Exports from Colombia

Preserved tuna exports from Colombia shrank notably to X tons in 2021, reducing by -24.8% compared with the previous year. In general, exports continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2017 with an increase of 253% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved tuna exports contracted dramatically to $X in 2021. Overall, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2017 with an increase of 230%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for preserved tuna exports from Colombia, accounting for a 69% share of total exports. Moreover, preserved tuna exports to Italy exceeded the volume sent to the second major destination, the United States (X tons), fivefold. Poland (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-18.7% per year) and Poland (+135.1% per year).

In value terms, Italy ($X) remains the key foreign market for tuna (prepared or preserved) exports from Colombia, comprising 73% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports. It was followed by Poland, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy amounted to +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-18.3% per year) and Poland (+138.3% per year).

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, increasing by 3.1% against the previous year. Over the period under review, the export price, however, recorded a mild shrinkage. The growth pace was the most rapid in 2018 an increase of 22% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 ($X per ton), while the average price for exports to Poland ($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 Poland (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Colombia

Preserved tuna imports into Colombia reduced to X tons in 2021, with a decrease of -14.3% compared with 2020 figures. Over the period under review, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 76%. Over the period under review, imports reached the maximum at X tons in 2020, and then reduced in the following year.

In value terms, preserved tuna imports dropped to $X in 2021. Overall, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 89% against the previous year. Imports peaked at $X in 2020, and then declined in the following year.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest preserved tuna supplier to Colombia, with a 74% share of total imports. Moreover, preserved tuna imports from Ecuador exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ecuador amounted to +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+4.2% per year) and Peru (+39.8% per year).

In value terms, Ecuador ($X) constituted the largest supplier of tuna (prepared or preserved) to Colombia, comprising 66% of total imports. The second position in the ranking was held by Free Zones ($X), with a 30% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Ecuador totaled +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+7.4% per year) and Peru (+40.1% per year).

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 9.6% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Free Zones (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :