MERCOSUR: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in MERCOSUR

The MERCOSUR fish fat and oil market was estimated at $X in 2022, growing by 6.3% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +78.6% against 2012 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Production of Fish Fats And Oils in MERCOSUR

In value terms, fish fat and oil production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 11%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Fish Fats And Oils

Exports in MERCOSUR

In 2022, exports of fish fats and oils in MERCOSUR contracted to X tons, with a decrease of -11.7% against 2021 figures. In general, exports recorded a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 27% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, fish fat and oil exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a temperate increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Peru represented the major exporting country with an export of around X tons, which recorded 67% of total exports. It was distantly followed by Chile (X tons), comprising a 33% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fish fat and oil exports from Peru stood at -4.0%. At the same time, Chile (+3.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +3.7% from 2012-2022. From 2012 to 2022, the share of Chile increased by +15 percentage points.

In value terms, Peru ($X) remains the largest fish fat and oil supplier in MERCOSUR, comprising 79% of total exports. The second position in the ranking was taken by Chile ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Peru stood at +3.4%.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, surging by 52% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil export price increased by +55.8% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Chile amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+7.6%).

Imports of Fish Fats And Oils

Imports in MERCOSUR

In 2022, supplies from abroad of fish fats and oils was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, fish fat and oil imports skyrocketed to $X in 2022. Overall, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Chile represented the key importer of fish fats and oils in MERCOSUR, with the volume of imports resulting at X tons, which was approx. 65% of total imports in 2022. Peru (X tons) ranks second in terms of the total imports with a 20% share, followed by Ecuador (6.2%) and Brazil (5.4%). Colombia (X tons) took a minor share of total imports.

Chile experienced a relatively flat trend pattern with regard to volume of imports of fish fats and oils. At the same time, Ecuador (+48.0%), Peru (+23.3%) and Brazil (+7.6%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +48.0% from 2012-2022. Colombia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Peru, Ecuador and Brazil increased by +17, +6 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported fish fats and oils in MERCOSUR, comprising 61% of total imports. The second position in the ranking was held by Peru ($X), with a 23% share of total imports. It was followed by Brazil, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value in Chile stood at +5.4%. In the other countries, the average annual rates were as follows: Peru (+32.6% per year) and Brazil (+12.3% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, rising by 53% against the previous year. Import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil import price increased by +79.9% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform