Ecuador: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Ecuador

In 2021, the Ecuadorian fresh fish fillet market decreased by -14.7% to $X for the first time since 2015, thus ending a five-year rising trend. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Fresh fish fillet consumption peaked at $X in 2020, and then shrank in the following year.

Fresh Fish Fillet Production in Ecuador

In value terms, fresh fish fillet production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production saw a deep contraction. The growth pace was the most rapid in 2020 when the production volume increased by 8.6%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Fresh Fish Fillet Exports

Exports from Ecuador

In 2021, overseas shipments of fresh or chilled fish fillets increased by 125% to X tons for the first time since 2015, thus ending a five-year declining trend. Overall, exports, however, continue to indicate a dramatic curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, fresh fish fillet exports soared to $X in 2021. In general, exports, however, recorded a abrupt setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for fresh fish fillet exports from Ecuador, accounting for a 93% share of total exports. It was followed by Canada (X tons), with a 2.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-26.5% per year) and Peru (-24.8% per year).

In value terms, the United States ($X) remains the key foreign market for fresh or chilled fish fillets exports from Ecuador, comprising 94% of total exports. The second position in the ranking was held by Peru ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-22.7% per year) and Canada (-26.0% per year).

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, rising by 22% against the previous year. Over the last nine years, it increased at an average annual rate of +4.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Canada ($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 the United States (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into Ecuador

In 2021, purchases abroad of fresh or chilled fish fillets increased by 50% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 97% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, fresh fish fillet imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 74% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Maldives (X tons), Chile (X tons) and Peru (X tons) were the main suppliers of fresh fish fillet imports to Ecuador, together accounting for 94% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Maldives (with a CAGR of 0.0%), while imports for the other leaders experienced a decline.

In value terms, Chile ($X) constituted the largest supplier of fresh or chilled fish fillets to Ecuador, comprising 84% of total imports. The second position in the ranking was held by Maldives ($X), with an 11% share of total imports. It was followed by Peru, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile amounted to -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Maldives (0.0% per year) and Peru (-10.8% per year).

Import Prices by Country

In 2021, the average fresh fish fillet import price amounted to $X per ton, approximately equating the previous year. In general, the import price, however, saw a noticeable contraction. The pace of growth was the most pronounced in 2013 when the average import price increased by 41% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Maldives ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+32.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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