MERCOSUR: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in MERCOSUR

After five years of growth, the MERCOSUR preserved anchovies market decreased by -3.6% to $X in 2021. The total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.4% against 2015 indices. The level of consumption peaked at $X in 2020, and then fell in the following year.

Preserved Anchovies Production in MERCOSUR

In value terms, preserved anchovies production dropped modestly to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +63.0% against 2015 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 38%. Over the period under review, production hit record highs at $X in 2020, and then contracted modestly in the following year.

Preserved Anchovies Exports

Exports in MERCOSUR

In 2021, overseas shipments of anchovies (prepared or preserved) increased by 40% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 41%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved anchovies exports soared to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 50% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Peru (X tons) represented roughly 100% of total exports in 2021.

Peru was also the fastest-growing in terms of the anchovies (prepared or preserved) exports, with a CAGR of +1.1% from 2012 to 2021. Peru (+16 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) also remains the largest preserved anchovies supplier in MERCOSUR.

In Peru, preserved anchovies exports increased at an average annual rate of +8.9% over the period from 2012-2021.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, reducing by -9.9% against the previous year. Export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the export price increased by 13%. Over the period under review, the export prices reached the maximum at $X per ton in 2020, and then declined in the following year.

As there is only one major export destination, the average price level is determined by prices for Peru.

From 2012 to 2021, the rate of growth in terms of prices for Peru amounted to +7.8% per year.

Preserved Anchovies Imports

Imports in MERCOSUR

Preserved anchovies imports declined to X tons in 2021, approximately mirroring the previous year's figure. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 38% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, preserved anchovies imports rose rapidly to $X in 2021. In general, imports showed a pronounced downturn. The growth pace was the most rapid in 2014 with an increase of 45% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) was the largest importer of anchovies (prepared or preserved), constituting 45% of total imports. Colombia (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Venezuela (14%) and Chile (12%). Uruguay (X tons), Paraguay (X tons) and Ecuador (X tons) followed a long way behind the leaders.

Imports into Brazil decreased at an average annual rate of -14.7% from 2012 to 2021. At the same time, Venezuela (+10.8%) and Chile (+3.3%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +10.8% from 2012-2021. Paraguay experienced a relatively flat trend pattern. By contrast, Colombia (-1.4%), Ecuador (-8.5%) and Uruguay (-10.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Venezuela, Colombia, Chile and Paraguay increased by +12, +9.1, +8.5 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported anchovies (prepared or preserved) in MERCOSUR, comprising 43% of total imports. The second position in the ranking was taken by Colombia ($X), with an 18% share of total imports. It was followed by Venezuela, with a 14% share.

In Brazil, preserved anchovies imports declined by an average annual rate of -10.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Colombia (+7.5% per year) and Venezuela (+13.6% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, growing by 9.3% against the previous year. Import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved anchovies import price increased by +8.7% against 2018 indices. The growth pace was the most rapid in 2015 when the import price increased by 18%. The level of import peaked in 2021 and is expected to retain growth in years to come.

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 Ecuador ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform