Latin America and the Caribbean: Frozen Yellowfin Tuna Market 2022

Frozen Yellowfin Tuna Market Size in Latin America and the Caribbean

The Latin American frozen yellowfin tuna market skyrocketed to $X in 2020, increasing by X% against the previous year. The total consumption indicated pronounced growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. The level of consumption peaked in 2020 and is likely to see gradual growth in the immediate term.

Frozen Yellowfin Tuna Production in Latin America and the Caribbean

In value terms, frozen yellowfin tuna production stood at $X in 2020 estimated in export prices. The total production indicated a notable expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% y-o-y. The level of production peaked in 2020 and is expected to retain growth in years to come.

Production By Country in Latin America and the Caribbean

Panama (X tons) remains the largest frozen yellowfin tuna producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, frozen yellowfin tuna production in Panama exceeded the figures recorded by the second-largest producer, Mexico (X tons), threefold. The third position in this ranking was occupied by El Salvador (X tons), with a X% share.

In Panama, frozen yellowfin tuna production expanded at an average annual rate of +X% over the period from 2007-2020. The remaining producing countries recorded the following average annual rates of production growth: Mexico (+X% per year) and El Salvador (X% per year).

Frozen Yellowfin Tuna Exports

Exports in Latin America and the Caribbean

In 2020, shipments abroad of frozen yellowfin tuna was finally on the rise to reach X tons after three years of decline. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% y-o-y. The volume of export peaked at X tons in 2016; however, from 2017 to 2020, exports remained at a lower figure.

In value terms, frozen yellowfin tuna exports declined to $X in 2020. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at $X in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Mexico (X tons), Panama (X tons) and Colombia (X tons), together reaching X% of total export. Nicaragua (X tons) occupied the next position in the ranking, followed by Ecuador (X tons). All these countries together occupied approx. X% share of total exports. Guatemala (X tons) occupied a minor share of total exports.

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

In value terms, Mexico ($X), Panama ($X) and Nicaragua ($X) appeared to be the countries with the highest levels of exports in 2020, with a combined X% share of total exports.

Nicaragua recorded 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 frozen yellowfin tuna export price in Latin America and the Caribbean stood at $X per ton in 2020, shrinking by -X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 an increase of X% year-to-year. Over the period under review, export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; 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 more modest paces of growth.

Frozen Yellowfin Tuna Imports

Imports in Latin America and the Caribbean

In 2020, the amount of frozen yellowfin tuna imported in Latin America and the Caribbean soared to X tons, picking up by X% compared with the previous year's figure. Total imports indicated a pronounced increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. The volume of import peaked at X tons in 2009; however, from 2010 to 2020, imports stood at a somewhat lower figure.

In value terms, frozen yellowfin tuna imports surged to $X in 2020. Total imports indicated noticeable growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2008; however, from 2009 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Guatemala (X tons) was the main importer of frozen yellowfin tuna, creating X% of total imports. It was distantly followed by Costa Rica (X tons), Ecuador (X tons), Mexico (X tons), Colombia (X tons) and El Salvador (X tons), together committing a X% share of total imports. Panama (X tons) took a little share of total imports.

From 2007 to 2020, the biggest increases were in Panama, while purchases for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Costa Rica ($X) and Ecuador ($X) were the countries with the highest levels of imports in 2020, together comprising X% of total imports. These countries were followed by Colombia, El Salvador, Mexico and Panama, which together accounted for a further X the main importing countries, Panama saw 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 2020, the frozen yellowfin tuna import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2012 when the import price increased by X% year-to-year. As a result, import price attained the peak level of $X per ton. from 2013 to 2020, the growth in terms of the import prices remained at a somewhat lower figure.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Costa Rica, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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