Ecuador: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Ecuador

In 2021, the Ecuadorian preserved mackerel market decreased by -19.7% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Preserved Mackerel Production in Ecuador

In value terms, preserved mackerel production stood at $X in 2021 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.9% 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 -0.5% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 62% against the previous year. Preserved mackerel production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Mackerel Exports

Exports from Ecuador

In 2021, overseas shipments of mackerel (prepared or preserved) increased by 23% to X tons, rising for the third consecutive year after four years of decline. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 359%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, preserved mackerel exports skyrocketed to $X in 2021. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2013 with an increase of 513% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), Italy (X tons) and Argentina (X tons) were the main destinations of preserved mackerel exports from Ecuador, together comprising 66% of total exports. Spain, Chile, Ghana, Portugal and Peru lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +124.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved mackerel exported from Ecuador were Italy ($X), Spain ($X) and the United States ($X), with a combined 72% share of total exports. Argentina, Chile, Portugal, Ghana and Peru lagged somewhat behind, together accounting for a further 26%.

Among the main countries of destination, Chile, with a CAGR of +129.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preserved mackerel export price stood at $X per ton in 2021, with an increase of 4.1% against the previous year. In general, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved mackerel export price decreased by -13.3% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 33% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to the United States ($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 Italy (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Mackerel Imports

Imports into Ecuador

For the third year in a row, Ecuador recorded growth in overseas purchases of mackerel (prepared or preserved), which increased by 212% to X tons in 2018. In general, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved mackerel imports skyrocketed to $X in 2018. Over the period under review, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2018, Italy (X tons) was the main supplier of preserved mackerel to Ecuador, with a approx. 100% share of total imports.

From 2014 to 2018, the average annual growth rate of volume from Italy was relatively modest.

In value terms, Italy ($X) constituted the largest supplier of mackerel (prepared or preserved) to Ecuador.

From 2014 to 2018, the average annual rate of growth in terms of value from Italy was relatively modest.

Import Prices by Country

The average preserved mackerel import price stood at $X per ton in 2018, with a decrease of -3.9% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2015 when the average import price increased by 23%. As a result, import price attained the peak level of $X per ton. From 2016 to 2018, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Italy.

From 2014 to 2018, the rate of growth in terms of prices for Canada amounted to -5.4% per year.

Source: IndexBox Platform

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