MERCOSUR: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in MERCOSUR

After two years of growth, the MERCOSUR fish meals and pellet market decreased by -16.3% to $X in 2021. Over the period under review, consumption recorded a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish in MERCOSUR

In value terms, fish meals and pellet production fell to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 21%. As a result, production reached the peak level of $X, and then declined in the following year.

Exports of Flours, Meals And Pellets Of Fish

Exports in MERCOSUR

After two years of decline, shipments abroad of flours, meals and pellets of fish increased by 11% to X tons in 2021. Overall, exports showed resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 34%. Over the period under review, the exports hit record highs at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, fish meals and pellet exports soared to $X in 2021. In general, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Peru represented the main exporter of flours, meals and pellets of fish in MERCOSUR, with the volume of exports resulting at X tons, which was approx. 68% of total exports in 2021. Argentina (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Uruguay (5.6%). The following exporters - Ecuador (X tons) and Colombia (X tons) - each recorded an 8.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fish meals and pellet exports from Peru stood at +8.5%. At the same time, Uruguay (+156.4%), Argentina (+42.9%) and Colombia (+12.9%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +156.4% from 2012-2021. By contrast, Ecuador (-3.3%) illustrated a downward trend over the same period. While the share of Argentina (+15 p.p.) and Uruguay (+5.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ecuador (-10.1 p.p.) and Peru (-10.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest fish meals and pellet supplier in MERCOSUR, comprising 80% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 9.6% share of total exports. It was followed by Colombia, with a 5.2% share.

In Peru, fish meals and pellet exports expanded at an average annual rate of +11.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ecuador (+9.3% per year) and Colombia (+18.5% per year).

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, surging by 14% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 17%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ecuador ($X per ton), while Uruguay ($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 (+13.1%), while the other leaders experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish

Imports in MERCOSUR

In 2021, imports of flours, meals and pellets of fish in MERCOSUR surged to X tons, picking up by 132% on the year before. Over the period under review, imports enjoyed a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 267% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, fish meals and pellet imports surged to $X in 2021. Overall, imports recorded a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 126% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

Ecuador (X tons) and Peru (X tons) prevails in imports structure, together creating 76% of total imports. Venezuela (X tons) took the next position in the ranking, followed by Colombia (X tons). All these countries together held approx. 15% share of total imports. The following importers - Chile (X tons) and Uruguay (X tons) - together made up 7.3% of total imports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +48.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) constitutes the largest market for imported flours, meals and pellets of fish in MERCOSUR, comprising 50% of total imports. The second position in the ranking was held by Ecuador ($X), with a 19% share of total imports. It was followed by Chile, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Peru totaled +37.5%. The remaining importing countries recorded the following average annual rates of imports growth: Ecuador (+15.5% per year) and Chile (-7.5% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, falling by -27.3% against the previous year. Overall, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 54% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Chile ($X per ton), while Ecuador ($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 (+5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform