MERCOSUR: Market for Frozen Scallops, Including Queen Scallop 2025

Market Size for Frozen Scallops, Including Queen Scallop in MERCOSUR

The MERCOSUR market for frozen scallops, including queen scallop contracted significantly to $X in 2021, waning by -43.6% against the previous year. Over the period under review, consumption saw a abrupt shrinkage. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Frozen Scallops, Including Queen Scallop in MERCOSUR

In value terms, frozen scallops, including queen scallop production expanded sharply to $X in 2021 estimated in export price. Overall, production recorded a pronounced curtailment. The growth pace was the most rapid in 2016 when the production volume increased by 13% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports in MERCOSUR

For the third year in a row, MERCOSUR recorded growth in overseas shipments of frozen scallops, including queen scallop, which increased by 37% to X tons in 2021. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 70% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, frozen scallops, including queen scallop exports soared to $X in 2021. Total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 +75.0% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Peru (X tons) and Argentina (X tons) dominates exports structure, together comprising 96% of total exports. Chile (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +7.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Argentina ($X) and Chile ($X) were the countries with the highest levels of exports in 2021, together accounting for 99.9% of total exports.

In terms of the main exporting countries, Peru, with a CAGR of +5.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, with an increase of 22% against the previous year. In general, the export price, however, recorded a perceptible decrease. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Argentina (-1.8%), while the other leaders experienced a decline in the export price figures.

Imports of Frozen Scallops, Including Queen Scallop

Imports in MERCOSUR

In 2021, overseas purchases of frozen scallops, including queen scallop increased by 163% to X tons, rising for the second consecutive year after three years of decline. Overall, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen scallops, including queen scallop imports surged to $X in 2021. In general, imports posted a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Chile represented the main importing country with an import of about X tons, which recorded 71% of total imports. It was distantly followed by Brazil (X tons), committing a 21% share of total imports. Argentina (X tons) and Peru (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to frozen scallops, including queen scallop imports into Chile stood at +22.0%. At the same time, Argentina (+42.7%), Brazil (+15.5%) and Peru (+1.8%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +42.7% from 2012-2021. From 2012 to 2021, the share of Chile and Argentina increased by +23 and +3.6 percentage points, respectively.

In value terms, the largest frozen scallops, including queen scallop importing markets in MERCOSUR were Chile ($X), Brazil ($X) and Peru ($X), with a combined 97% share of total imports. Argentina lagged somewhat behind, accounting for a further 2.2%.

Among the main importing countries, Argentina, with a CAGR of +42.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2018 an increase of 21% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+10.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform