Latin America and the Caribbean: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Latin America and the Caribbean

The Latin American fish meals and pellet market contracted remarkably to $X in 2021, falling by -45% against the previous year. In general, consumption continues to indicate a abrupt downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Flours, Meals And Pellets Of Fish in Latin America and the Caribbean

In value terms, fish meals and pellet production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 3.8%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports in Latin America and the Caribbean

For the tenth year in a row, LatAmerica and the Caribbean recorded growth in shipments abroad of flours, meals and pellets of fish, which increased by 29% to X tons in 2021. In general, exports continue to indicate buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fish meals and pellet exports surged to $X in 2021. Over the period under review, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 22% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Costa Rica was the largest exporting country with an export of around X tons, which finished at 77% of total exports. It was distantly followed by Peru (X tons), making up a 16% share of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to fish meals and pellet exports from Costa Rica stood at +20.1%. At the same time, Argentina (+42.9%) and Peru (+8.5%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +42.9% from 2012-2021. While the share of Costa Rica (+17 p.p.) and Argentina (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Peru (-14.4 p.p.) displayed negative dynamics.

In value terms, Costa Rica ($X) remains the largest fish meals and pellet supplier in Latin America and the Caribbean, comprising 74% of total exports. The second position in the ranking was taken by Peru ($X), with a 21% share of total exports.

In Costa Rica, fish meals and pellet exports expanded at an average annual rate of +20.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (+11.1% per year) and Argentina (+25.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, waning by -5.5% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by 8%. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably country of origin: the country with the highest price was Peru ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+2.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Flours, Meals And Pellets Of Fish

Imports in Latin America and the Caribbean

In 2021, the amount of flours, meals and pellets of fish imported in Latin America and the Caribbean surged to X tons, growing by 64% compared with 2020 figures. In general, imports saw a temperate increase. The pace of growth appeared the most rapid in 2015 with an increase of 149% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, fish meals and pellet imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Ecuador (X tons) and Peru (X tons) represented roughly 38% of total imports in 2021. Guatemala (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Bahamas (11%), Honduras (6.8%) and Mexico (6.7%). Venezuela (X tons), Jamaica (X tons), Colombia (X tons), Saint Kitts and Nevis (X tons), Costa Rica (X tons), Chile (X tons) and Aruba (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Saint Kitts and Nevis (with a CAGR of +79.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Guatemala ($X) and Jamaica ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 44% of total imports.

Among the main importing countries, Peru, with a CAGR of +37.5%, 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, which is down by -20.1% against the previous year. Overall, the import price saw a perceptible setback. The pace of growth appeared the most rapid in 2017 when the import price increased by 83%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Costa Rica ($X per ton), while Saint Kitts and Nevis ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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