Latin America and the Caribbean: Molluscs Market 2024

Molluscs Market Size in Latin America and the Caribbean

The Latin American molluscs market reached $X in 2021, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Molluscs Production in Latin America and the Caribbean

In value terms, molluscs production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 17%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Molluscs Exports

Exports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded growth in shipments abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus), which increased by 3.1% to X tons in 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 27% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, molluscs exports fell to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 30% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Peru was the major exporting country with an export of about X tons, which resulted at 64% of total exports. Argentina (X tons) ranks second in terms of the total exports with a 25% share, followed by Chile (7.7%).

Exports from Peru increased at an average annual rate of +1.2% from 2012 to 2021. At the same time, Argentina (+4.6%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +4.6% from 2012-2021. By contrast, Chile (-8.9%) illustrated a downward trend over the same period. While the share of Argentina (+8.1 p.p.) and Peru (+5.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Chile (-10.3 p.p.) displayed negative dynamics.

In value terms, Peru ($X) remains the largest molluscs supplier in Latin America and the Caribbean, comprising 61% of total exports. The second position in the ranking was taken by Argentina ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Peru was relatively modest. In the other countries, the average annual rates were as follows: Argentina (+1.2% per year) and Chile (-5.7% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, declining by -12.6% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 20%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+3.4%), while the other leaders experienced a decline in the export price figures.

Molluscs Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) increased by 17% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a pronounced decline. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, molluscs imports soared to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Mexico (X tons), Colombia (X tons) and Brazil (X tons) represented roughly 52% of total imports in 2021. Chile (X tons) held a 7.1% share (based on physical terms) of total imports, which put it in second place, followed by Panama (6.9%), the Dominican Republic (5%) and Peru (4.8%). Costa Rica (X tons), Venezuela (X tons), Argentina (X tons) and Guatemala (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +106.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 46% share of total imports. These countries were followed by Chile, the Dominican Republic, Panama, Argentina, Peru, Costa Rica, Guatemala and Venezuela, which together accounted for a further 41%.

In terms of the main importing countries, Panama, with a CAGR of +98.0%, recorded the highest growth rate of 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, picking up by 7.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2016 an increase of 15% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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