Latin America and the Caribbean: Frozen Catfish Market 2022

Frozen Catfish Market Size in Latin America and the Caribbean

The Latin American frozen catfish market rose remarkably to $X in 2020, picking up by X% against the previous year. Overall, consumption saw strong growth. The pace of growth appeared the most rapid in 2013 when the market value increased by X% y-o-y. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2020, consumption remained at a lower figure.

Frozen Catfish Production in Latin America and the Caribbean

In value terms, frozen catfish production surged to $X in 2020 estimated in export prices. In general, production showed a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2020, production failed to regain the momentum.

Production By Country in Latin America and the Caribbean

The countries with the highest volumes of frozen catfish production in 2020 were Venezuela (X tons), Uruguay (X tons) and Argentina (X tons), with a combined X% share of total production.

From 2007 to 2020, the most notable rate of growth in terms of frozen catfish production, amongst the key producing countries, was attained by Argentina, while frozen catfish production for the other leaders experienced more modest paces of growth.

Frozen Catfish Exports

Exports in Latin America and the Caribbean

In 2020, overseas shipments of frozen catfish increased by X% to X tons, rising for the fifth year in a row after three years of decline. In general, exports enjoyed strong growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked in 2020 and is likely to see gradual growth in years to come.

In value terms, frozen catfish exports soared to $X in 2020. Overall, exports saw a slight increase. The pace of growth was the most pronounced in 2017 when exports increased by X% year-to-year. The level of export peaked in 2020 and is expected to retain growth in the immediate term.

Exports by Country

Uruguay (X tons) and Argentina (X tons) were the main exporters of frozen catfish in 2020, finishing at near X% and X% of total exports, respectively. Venezuela (X tons) occupied a X% share (based on tons) of total exports, which put it in second place, followed by Peru (X%). Panama (X tons) occupied a relatively small share of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Peru, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen catfish supplying countries in Latin America and the Caribbean were Uruguay ($X), Argentina ($X) and Peru ($X), together comprising X% of total exports.

Peru recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2020, the frozen catfish export price in Latin America and the Caribbean amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, recorded a drastic downturn. Over the period under review, export prices hit record highs at $X per ton in 2007; however, from 2008 to 2020, export prices failed to regain the momentum.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Peru, while the other leaders experienced mixed trends in the export price figures.

Frozen Catfish Imports

Imports in Latin America and the Caribbean

In 2020, purchases abroad of frozen catfish was finally on the rise to reach X tons for the first time since 2016, thus ending a three-year declining trend. Overall, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% y-o-y. The volume of import peaked at X tons in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

In value terms, frozen catfish imports fell slightly to $X in 2020. In general, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2013 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2020, imports remained at a lower figure.

Imports by Country

Colombia prevails in frozen catfish imports structure, resulting at X tons, which was approx. X% of total imports in 2020. It was distantly followed by Mexico (X tons), committing a X% share of total imports. Peru (X tons) followed a long way behind the leaders.

Imports into Colombia increased at an average annual rate of +X% from 2007 to 2020. At the same time, Peru (+X%) and Mexico (+X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. From 2007 to 2020, the share of Colombia and Mexico increased by +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X) constitutes the largest market for imported frozen catfish in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value in Colombia stood at +X%. In the other countries, the average annual rates were as follows: Mexico (+X% per year) and Peru (+X% per year).

Import Prices by Country

The frozen catfish import price in Latin America and the Caribbean stood at $X per ton in 2020, dropping by -X% against the previous year. In general, the import price recorded a noticeable slump. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2007; however, from 2008 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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