Ecuador: Frozen Yellowfin Tuna Market 2022

Frozen Yellowfin Tuna Market Size in Ecuador

In 2020, the Ecuadorian frozen yellowfin tuna market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2008; however, from 2009 to 2020, consumption stood at a somewhat lower figure.

Frozen Yellowfin Tuna Production in Ecuador

In value terms, frozen yellowfin tuna production totaled $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2020, production stood at a somewhat lower figure.

Frozen Yellowfin Tuna Exports

Exports from Ecuador

In 2020, overseas shipments of frozen yellowfin tuna decreased by -X% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. Exports peaked at X tons in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, frozen yellowfin tuna exports contracted to $X in 2020. In general, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. Exports peaked at $X in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

Exports by Country

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

From 2007 to 2020, the average annual rate of growth in terms 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 Guatemala (+X% per year).

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

From 2007 to 2020, the average annual rate of growth in terms 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 Costa Rica (+X% per year).

Export Prices by Country

In 2020, the average frozen yellowfin tuna export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2012 when the average export price increased by X% year-to-year. Over the period under review, average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Colombia ($X per ton) was 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 mixed trend patterns.

Frozen Yellowfin Tuna Imports

Imports into Ecuador

In 2020, overseas purchases of frozen yellowfin tuna increased by X% to X tons, rising for the third consecutive year after six years of decline. In general, imports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. Imports peaked at X tons in 2009; however, from 2010 to 2020, imports failed to regain the momentum.

In value terms, frozen yellowfin tuna imports rose rapidly to $X in 2020. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. As a result, imports reached the peak of $X. from 2009 to 2020, the growth imports remained at a lower figure.

Imports by Country

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

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

In value terms, Venezuela ($X) constituted the largest supplier of frozen yellowfin tuna to Ecuador, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Venezuela amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and Cote d'Ivoire (+X% per year).

Import Prices by Country

In 2020, the average frozen yellowfin tuna import price amounted to $X per ton, surging by X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2011 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2008; however, from 2009 to 2020, import prices stood 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 South Korea ($X per ton), while the price for Seychelles ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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