Latin America and the Caribbean: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Latin America and the Caribbean

The Latin American preserved mackerel market amounted to $X in 2021, remaining stable against the previous year. In general, consumption showed a slight decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Preserved Mackerel Production in Latin America and the Caribbean

In value terms, preserved mackerel production skyrocketed to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Preserved Mackerel Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of mackerel (prepared or preserved) decreased by -12.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2020 when exports increased by 31%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved mackerel exports declined to $X in 2021. In general, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 39% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador represented the main exporter of mackerel (prepared or preserved) in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was near 83% of total exports in 2021. It was distantly followed by Peru (X tons), creating a 12% share of total exports. Chile (X tons) followed a long way behind the leaders.

Ecuador was also the fastest-growing in terms of the mackerel (prepared or preserved) exports, with a CAGR of +31.9% from 2012 to 2021. Peru (-25.0%) and Chile (-37.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ecuador increased by +82 percentage points.

In value terms, Ecuador ($X) remains the largest preserved mackerel supplier in Latin America and the Caribbean, comprising 80% of total exports. The second position in the ranking was taken by Peru ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Ecuador amounted to +34.8%. In the other countries, the average annual rates were as follows: Peru (-19.9% per year) and Chile (-38.8% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 6% against the previous year. Over the last nine years, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2013 an increase of 17% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Chile ($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 (+6.8%), while the other leaders experienced mixed trends in the export price figures.

Preserved Mackerel Imports

Imports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded growth in supplies from abroad of mackerel (prepared or preserved), which increased by 14% to X tons in 2021. Overall, imports recorded buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 35% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, preserved mackerel imports skyrocketed to $X in 2021. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 61% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Jamaica (X tons) was the main importer of mackerel (prepared or preserved), comprising 41% of total imports. Haiti (X tons) took the second position in the ranking, distantly followed by Chile (X tons) and the Dominican Republic (X tons). All these countries together took near 43% share of total imports. Guyana (X tons), Argentina (X tons) and Colombia (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Dominican Republic (with a CAGR of +90.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Jamaica ($X) constitutes the largest market for imported mackerel (prepared or preserved) in Latin America and the Caribbean, comprising 46% of total imports. The second position in the ranking was held by Haiti ($X), with a 16% share of total imports. It was followed by Chile, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Jamaica amounted to +5.8%. In the other countries, the average annual rates were as follows: Haiti (+26.1% per year) and Chile (+39.0% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 2.9% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the import price increased by 19% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jamaica (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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