MERCOSUR: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in MERCOSUR

In 2021, the MERCOSUR frozen whole fish market increased by 28% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a pronounced reduction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Frozen Whole Fish Production in MERCOSUR

In value terms, frozen whole fish production rose notably to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 32% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Frozen Whole Fish Exports

Exports in MERCOSUR

In 2021, shipments abroad of frozen whole fish increased by 9.7% to X tons, rising for the fifth consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 15% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, frozen whole fish exports stood at $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 18% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Chile was the major exporter of frozen whole fish in MERCOSUR, with the volume of exports reaching X tons, which was approx. 50% of total exports in 2021. Peru (X tons) ranks second in terms of the total exports with a 16% share, followed by Ecuador (12%), Argentina (8.2%) and Uruguay (5.2%). The following exporters - Brazil (X tons) and Venezuela (X tons) - each amounted to a 6.2% share of total exports.

Exports from Chile increased at an average annual rate of +3.7% from 2012 to 2021. At the same time, Venezuela (+19.4%), Peru (+9.3%) and Ecuador (+8.3%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +19.4% from 2012-2021. Brazil experienced a relatively flat trend pattern. By contrast, Uruguay (-3.6%) and Argentina (-7.3%) illustrated a downward trend over the same period. While the share of Peru (+7.1 p.p.), Chile (+6.2 p.p.), Ecuador (+4.9 p.p.) and Venezuela (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Uruguay (-3.6 p.p.) and Argentina (-11.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest frozen whole fish supplier in MERCOSUR, comprising 68% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 6.5% share of total exports. It was followed by Peru, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile amounted to +2.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Ecuador (+5.9% per year) and Peru (+1.0% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, which is down by -4.5% against the previous year. Overall, the export price recorded a mild decline. The pace of growth appeared the most rapid in 2014 when the export price increased by 14%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($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 (+3.4%), while the other leaders experienced a decline in the export price figures.

Frozen Whole Fish Imports

Imports in MERCOSUR

Frozen whole fish imports skyrocketed to X tons in 2021, jumping by 41% against the year before. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen whole fish imports soared to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Ecuador (X tons) and Brazil (X tons) represented the key importers of frozen whole fish in MERCOSUR, together creating 66% of total imports. It was distantly followed by Colombia (X tons) and Peru (X tons), together constituting a 31% share of total imports. Uruguay (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Ecuador (with a CAGR of +12.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole fish importing markets in MERCOSUR were Brazil ($X), Ecuador ($X) and Colombia ($X), with a combined 88% share of total imports.

Among the main importing countries, Colombia, with a CAGR of +8.4%, recorded the highest growth rate of 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, growing by 5% against the previous year. In general, the import price, however, continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2018 when the import price increased by 9.9%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 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 Uruguay ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform