Ecuador: Preserved Tuna Market 2024

Preserved Tuna Market Size in Ecuador

In 2021, after five years of growth, there was significant decline in the Ecuadorian preserved tuna market, when its value decreased by -89.5% to $X. Over the period under review, consumption faced a sharp curtailment. Over the period under review, the market hit record highs at $X in 2020, and then reduced markedly in the following year.

Preserved Tuna Production in Ecuador

In value terms, preserved tuna production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Preserved Tuna Exports

Exports from Ecuador

For the sixth year in a row, Ecuador recorded growth in shipments abroad of tuna (prepared or preserved), which increased by 4.8% to X tons in 2021. Overall, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +48.3% against 2015 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 21%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, preserved tuna exports expanded markedly to $X in 2021. In general, total exports indicated a pronounced 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. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

Spain (X tons), the UK (X tons) and Colombia (X tons) were the main destinations of preserved tuna exports from Ecuador, together comprising 46% of total exports. These countries were followed by the Netherlands, the United States, Italy, Argentina, France, Chile, Germany, Brazil, Peru and Venezuela, which together accounted for a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +15.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved tuna exported from Ecuador were Spain ($X), the UK ($X) and Italy ($X), together accounting for 44% of total exports. The Netherlands, the United States, Colombia, Argentina, France, Chile, Germany, Peru, Brazil and Venezuela lagged somewhat behind, together comprising a further 48%.

The Netherlands, with a CAGR of +11.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved tuna export price amounted to $X per ton, growing by 4.9% against the previous year. Over the period under review, the export price, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2017 an increase of 18% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Brazil ($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 (-0.1%), while the prices for the other major destinations experienced a decline.

Preserved Tuna Imports

Imports into Ecuador

In 2021, purchases abroad of tuna (prepared or preserved) decreased by -16.4% to X tons, falling for the second year in a row after four years of growth. Overall, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 726% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, preserved tuna imports dropped rapidly to $X in 2021. In general, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2016 when imports increased by 873% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of preserved tuna to Ecuador, with a 47% share of total imports. Moreover, preserved tuna imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+2.9% per year) and Indonesia (+36.3% per year).

In value terms, the largest preserved tuna suppliers to Ecuador were Free Zones ($X), China ($X) and Indonesia ($X), together comprising 80% of total imports. These countries were followed by the United States, Peru, Colombia and the Netherlands, which together accounted for a further 16%.

In terms of the main suppliers, the United States, with a CAGR of +41.6%, 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 2021, the average preserved tuna import price amounted to $X per ton, reducing by -26.7% against the previous year. In general, the import price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2013 an increase of 28% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Free Zones (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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