MERCOSUR: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in MERCOSUR

The MERCOSUR fresh fish fillet market fell modestly to $X in 2021, reducing by -2% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Fresh Fish Fillet Production in MERCOSUR

In value terms, fresh fish fillet production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 18% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Fresh Fish Fillet Exports

Exports in MERCOSUR

Fresh fish fillet exports reached X tons in 2021, surging by 5% against 2020 figures. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.2% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 19%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, fresh fish fillet exports skyrocketed to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Chile dominates exports structure, amounting to X tons, which was near 92% of total exports in 2021. It was distantly followed by Colombia (X tons), committing a 5.7% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fresh fish fillet exports from Chile stood at +7.1%. At the same time, Colombia (+14.3%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +14.3% from 2012-2021. Chile (+13 p.p.) and Colombia (+2.9 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, Chile ($X) remains the largest fresh fish fillet supplier in MERCOSUR, comprising 94% of total exports. The second position in the ranking was taken by Colombia ($X), with a 4.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Chile stood at +11.7%.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, picking up by 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.1%. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+4.3%).

Fresh Fish Fillet Imports

Imports in MERCOSUR

In 2021, purchases abroad of fresh or chilled fish fillets was finally on the rise to reach X tons after three years of decline. Total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 53%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, fresh fish fillet imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 73%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Colombia (X tons) represented the largest importer of fresh or chilled fish fillets, committing 39% of total imports. It was distantly followed by Uruguay (X tons), Peru (X tons), Brazil (X tons), Chile (X tons) and Argentina (X tons), together creating a 58% share of total imports. Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Uruguay (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) constitutes the largest market for imported fresh or chilled fish fillets in MERCOSUR, comprising 38% of total imports. The second position in the ranking was taken by Uruguay ($X), with an 18% share of total imports. It was followed by Brazil, with a 14% share.

In Colombia, fresh fish fillet imports expanded at an average annual rate of +15.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Uruguay (+18.9% per year) and Brazil (+3.1% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, picking up by 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2016 an increase of 18% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform