Cuba: Market for Dried Or Salted Fish 2025

Market Size for Dried Or Salted Fish in Cuba

After five years of growth, the Cuban dried or salted fish market decreased by -2% to $X in 2021. Over the period under review, consumption continues to indicate a buoyant increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Production of Dried Or Salted Fish in Cuba

In value terms, dried or salted fish production declined to $X in 2021 estimated in export price. Overall, production enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 36% against the previous year. Dried or salted fish production peaked at $X in 2020, and then dropped in the following year.

Exports of Dried Or Salted Fish

Exports from Cuba

Dried or salted fish exports from Cuba stood at X tons in 2021, surging by 4.4% compared with 2020. The total export volume increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 4.4%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, dried or salted fish exports reached $X in 2021. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 11%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons) was the main destination for dried or salted fish exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR amounted to +4.4%.

In value terms, Hong Kong SAR ($X) also remains the key foreign market for dried or salted fish exports from Cuba.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR stood at +11.1%.

Export Prices by Country

In 2021, the average dried or salted fish export price amounted to $X per ton, rising by 6.5% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dried or salted fish export price increased by +76.0% against 2012 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 6.5% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2021, the rate of growth in terms of prices for Hong Kong SAR amounted to +6.5% per year.

Imports of Dried Or Salted Fish

Imports into Cuba

In 2021, approx. X tons of dried or salted fish were imported into Cuba; surging by 5.3% against 2020 figures. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 56% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, dried or salted fish imports soared to $X in 2021. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 112%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) was the main dried or salted fish supplier to Cuba, with a 92% share of total imports. Moreover, dried or salted fish imports from Spain exceeded the figures recorded by the second-largest supplier, Portugal (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +35.1%.

In value terms, Spain ($X) constituted the largest supplier of dried or salted fish to Cuba, comprising 87% of total imports. The second position in the ranking was held by Portugal ($X), with a 6.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +44.3%.

Import Prices by Country

The average dried or salted fish import price stood at $X per ton in 2021, rising by 9.3% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 36%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Portugal ($X per ton), while the price for Spain stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.8%).

Source: IndexBox Platform

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