Cuba: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2025

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Cuba

In 2021, after two years of decline, there was significant growth in the Cuban seafood meals and pellets market, when its value increased by 6.7% to $X. In general, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -25.5% against 2018 indices. Seafood meals and pellets consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Cuba

In value terms, seafood meals and pellets production expanded markedly to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -26.8% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 70% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Cuba

In 2018, approx. X kg of flours, meals and pellets of fish or of crustaceans and molluscs were exported from Cuba; approximately mirroring 2017. In general, exports continue to indicate a relatively flat trend pattern. The exports peaked in 2018 and are expected to retain growth in the immediate term.

In value terms, seafood meals and pellets exports stood at $X in 2018. Overall, exports showed a relatively flat trend pattern. Over the period under review, the exports attained the peak figure in 2018 and are likely to continue growth in the immediate term.

Exports by Country

Chile (X kg) was the main destination for seafood meals and pellets exports from Cuba, accounting for a approx. 100% share of total exports.

From 2018 to 2018, the average annual growth rate of volume to Chile was relatively modest.

From 2018 to 2018, the average annual growth rate of value to Chile was relatively modest.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Cuba

In 2021, seafood meals and pellets imports into Cuba shrank notably to X tons, waning by -29.2% compared with the previous year. In general, imports, however, continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2014 when imports increased by 287% against the previous year. Imports peaked at X tons in 2020, and then declined rapidly in the following year.

In value terms, seafood meals and pellets imports dropped modestly to $X in 2021. Over the period under review, imports, however, recorded a measured increase. The growth pace was the most rapid in 2014 with an increase of 339%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Chile (X tons), Spain (X tons) and China (X tons) were the main suppliers of seafood meals and pellets imports to Cuba, with a combined 69% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +13.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest seafood meals and pellets suppliers to Cuba were Spain ($X), Chile ($X) and China ($X), with a combined 62% share of total imports.

Among the main suppliers, Spain, with a CAGR of +20.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, with an increase of 34% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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