Ecuador: Bigeye Tuna Market 2022

Bigeye Tuna Market Size in Ecuador

In 2020, after two years of growth, there was significant decline in the Ecuadorian bigeye tuna market, when its value decreased by -X% to $X. In general, consumption, however, posted a noticeable increase. The growth pace was the most rapid in 2011 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2020, consumption stood at a somewhat lower figure.

Bigeye Tuna Production in Ecuador

In value terms, bigeye tuna production fell to $X in 2020 estimated in export prices. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% y-o-y. As a result, production reached the peak level of $X. from 2014 to 2020, production growth remained at a lower figure.

Bigeye Tuna Exports

Exports from Ecuador

In 2020, shipments abroad of bigeye tuna decreased by -X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Exports peaked at X tons in 2010; however, from 2011 to 2020, exports failed to regain the momentum.

In value terms, bigeye tuna exports dropped markedly to $X in 2020. Overall, exports showed a abrupt decline. The pace of growth was the most pronounced in 2008 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. from 2009 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for bigeye tuna exports from Ecuador, with a X% share of total exports. Moreover, bigeye tuna exports to Spain exceeded the volume sent to the second major destination, Colombia (X tons), fourfold. Peru (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Spain amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+X% per year) and Peru (+X% per year).

In value terms, Spain ($X) emerged as the key foreign market for bigeye tuna exports from Ecuador, comprising X% of total exports. The second position in the ranking was occupied by Colombia ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Spain totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-X% per year) and Peru (-X% per year).

Export Prices by Country

In 2020, the average bigeye tuna export price amounted to $X per ton, waning by -X% against the previous year. Overall, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% year-to-year. Over the period under review, average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2020, export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2020, the highest prices were recorded for prices to Portugal ($X per ton) and Spain ($X per ton), while the average price for exports to Peru ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Spain, while the prices for the other major destinations experienced a decline.

Bigeye Tuna Imports

Imports into Ecuador

In 2020, after three years of growth, there was significant decline in supplies from abroad of bigeye tuna, when their volume decreased by -X% to X tons. Overall, imports, however, posted slight growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. from 2014 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, bigeye tuna imports shrank significantly to $X in 2020. Over the period under review, imports, however, continue to indicate a mild increase. The pace of growth appeared the most rapid in 2013 when imports increased by X% year-to-year. As a result, imports attained the peak of $X. from 2014 to 2020, the growth imports failed to regain the momentum.

Imports by Country

In 2020, Panama (X tons) constituted the largest supplier of bigeye tuna to Ecuador, accounting for a X% share of total imports. Moreover, bigeye tuna imports from Panama exceeded the figures recorded by the second-largest supplier, Nicaragua (X tons), threefold. The third position in this ranking was occupied by Venezuela (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Panama amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nicaragua (-X% per year) and Venezuela (+X% per year).

In value terms, Panama ($X), Nicaragua ($X) and Venezuela ($X) were the largest bigeye tuna suppliers to Ecuador, together accounting for X% of total imports. Seychelles, Cote d'Ivoire, American Samoa, Kiribati and Curacao lagged somewhat behind, together comprising a further X terms of the main suppliers, Curacao (+X% per year) recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average bigeye tuna import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2012 when the average import price increased by X% year-to-year. As a result, import price reached the peak level of $X per ton. from 2013 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Nicaragua ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Curacao, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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