MERCOSUR: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in MERCOSUR

In 2022, the MERCOSUR frozen fish fillet market increased by 13% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Frozen Fish Fillet Production in MERCOSUR

In value terms, frozen fish fillet production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Frozen Fish Fillet Exports

Exports in MERCOSUR

In 2022, overseas shipments of frozen fish fillet increased by 13% to X tons, rising for the sixth consecutive year after three years of decline. Overall, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish fillet exports skyrocketed to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.5% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Chile was the major exporter of frozen fish fillet in MERCOSUR, with the volume of exports recording X tons, which was approx. 56% of total exports in 2022. It was distantly followed by Argentina (X tons) and Peru (X tons), together creating a 37% share of total exports. Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Chile (with a CAGR of +3.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Chile ($X) remains the largest frozen fish fillet supplier in MERCOSUR, comprising 77% of total exports. The second position in the ranking was taken by Argentina ($X), with an 11% share of total exports. It was followed by Peru, with a 7% share.

In Chile, frozen fish fillet exports expanded at an average annual rate of +8.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-1.4% per year) and Peru (+5.3% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, with an increase of 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.3%. 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 Chile ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+5.3%), while the other leaders experienced mixed trends in the export price figures.

Frozen Fish Fillet Imports

Imports in MERCOSUR

In 2022, approx. X tons of frozen fish fillet were imported in MERCOSUR; waning by -14.8% against 2021. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 when imports increased by 21% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, frozen fish fillet imports rose slightly to $X in 2022. Over the period under review, imports showed a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 28%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) represented the key importer of frozen fish fillet, generating 71% of total imports. Colombia (X tons) held the second position in the ranking, followed by Chile (X tons). All these countries together held near 20% share of total imports. Peru (X tons), Ecuador (X tons) and Uruguay (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen fish fillet imports into Brazil stood at -7.6%. At the same time, Chile (+5.0%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +5.0% from 2012-2022. By contrast, Uruguay (-1.1%), Ecuador (-1.9%), Peru (-3.5%) and Colombia (-3.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile and Colombia increased by +5.7 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported frozen fish fillet in MERCOSUR, comprising 68% of total imports. The second position in the ranking was taken by Colombia ($X), with a 13% share of total imports. It was followed by Chile, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at -4.5%. In the other countries, the average annual rates were as follows: Colombia (+1.9% per year) and Chile (+6.0% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, jumping by 23% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. 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 Ecuador ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform