Latin America and the Caribbean: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Latin America and the Caribbean

In 2021, the Latin American dried or salted fish market increased by 0.8% to $X for the first time since 2016, thus ending a four-year declining trend. In general, consumption, however, showed a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 4.5% against the previous year. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Dried Or Salted Fish in Latin America and the Caribbean

In value terms, dried or salted fish production rose slightly to $X in 2021 estimated in export price. In general, production, however, showed a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 8.8%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Dried Or Salted Fish

Exports in Latin America and the Caribbean

In 2021, overseas shipments of dried or salted fish were finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2014 with an increase of 33%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, dried or salted fish exports soared to $X in 2021. Overall, exports, however, faced a abrupt downturn. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Peru (X tons), distantly followed by Argentina (X tons), the Dominican Republic (X tons) and Trinidad and Tobago (X tons) represented the main exporters of dried or salted fish, together generating 85% of total exports. Chile (X tons), El Salvador (X tons) and Ecuador (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Trinidad and Tobago (with a CAGR of +17.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest dried or salted fish supplying countries in Latin America and the Caribbean were Peru ($X), the Dominican Republic ($X) and Argentina ($X), with a combined 62% share of total exports. These countries were followed by El Salvador, Trinidad and Tobago, Chile and Ecuador, which together accounted for a further 28%.

Trinidad and Tobago, with a CAGR of +17.4%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, surging by 3% against the previous year. Over the period under review, the export price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2016 when the export price increased by 13%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was El Salvador ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+4.5%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports in Latin America and the Caribbean

Dried or salted fish imports fell modestly to X tons in 2021, dropping by -3.2% on the previous year. In general, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 1.4% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, dried or salted fish imports shrank modestly to $X in 2021. Overall, imports faced a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of 0.6% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The Dominican Republic represented the major importing country with an import of around X tons, which recorded 44% of total imports. It was distantly followed by Brazil (X tons), Jamaica (X tons) and Haiti (X tons), together constituting a 43% share of total imports. The following importers - Trinidad and Tobago (X tons), Panama (X tons) and Mexico (X tons) - together made up 6.8% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Panama (with a CAGR of +117.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dried or salted fish importing markets in Latin America and the Caribbean were the Dominican Republic ($X), Brazil ($X) and Jamaica ($X), with a combined 82% share of total imports. These countries were followed by Haiti, Trinidad and Tobago, Mexico and Panama, which together accounted for a further 12%.

In terms of the main importing countries, Panama, with a CAGR of +80.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 2.9% against the previous year. Overall, the import price, however, recorded a pronounced curtailment. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mexico ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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