Latin America and the Caribbean: Tilapias Market 2022

Tilapias Market Size in Latin America and the Caribbean

The Latin American tilapias market expanded sharply to $X in 2021, increasing by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Tilapias Production in Latin America and the Caribbean

In value terms, tilapias production reached $X in 2021 estimated in export price. The total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Tilapias Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of tilapias increased by X% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, exports posted resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tilapias exports surged to $X in 2021. Overall, exports showed a pronounced expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, Colombia (X tons), distantly followed by Brazil (X tons), Honduras (X tons), Mexico (X tons) and El Salvador (X tons) represented the key exporters of tilapias, together comprising X% of total exports. Ecuador (X tons) and Costa Rica (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by El Salvador (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest tilapias supplying countries in Latin America and the Caribbean were Colombia ($X), Honduras ($X) and Brazil ($X), together comprising X% of total exports.

In terms of the main exporting countries, Colombia, with a CAGR of +X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, shrinking by -X% against the previous year. Over the period under review, the export price recorded a perceptible curtailment. The growth pace was the most rapid in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably countryorigin: the country with the highest price was Ecuador ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

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

Tilapias Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of tilapias was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports recorded resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tilapias imports soared to $X in 2021. In general, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico dominates imports structure, accounting for X tons, which was near X% of total imports in 2021. Costa Rica (X tons) held the second position in the ranking, followed by Colombia (X tons), the Dominican Republic (X tons) and Peru (X tons). All these countries together held approx. X% share of total imports. Guatemala (X tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of +X% from 2012 to 2021. At the same time, Guatemala (+X%), the Dominican Republic (+X%), Colombia (+X%), Peru (+X%) and Costa Rica (+X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. While the share of the Dominican Republic (+X p.p.), Colombia (+X p.p.), Peru (+X p.p.) and Guatemala (+X p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Costa Rica (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Mexico, tilapias imports increased at an average annual rate of +X% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Costa Rica (+X% per year) and Colombia (+X% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, saw a slight contraction. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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