MERCOSUR: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in MERCOSUR

The MERCOSUR inedible fish products market reduced to $X in 2022, declining by -6.3% against the previous year. In general, consumption saw a slight curtailment. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Inedible Fish Products Production in MERCOSUR

In value terms, inedible fish products production declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild slump. The pace of growth was the most pronounced in 2014 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Inedible Fish Products Exports

Exports in MERCOSUR

Inedible fish products exports contracted significantly to X tons in 2022, declining by -18.9% compared with 2021 figures. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 133% against the previous year. The volume of export peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, inedible fish products exports amounted to $X in 2022. In general, exports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2018 with an increase of 270% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Argentina was the major exporting country with an export of around X tons, which reached 51% of total exports. Ecuador (X tons) took the second position in the ranking, followed by Chile (X tons), Brazil (X tons) and Colombia (X tons). All these countries together held near 49% share of total exports.

Exports from Argentina increased at an average annual rate of +33.5% from 2012 to 2022. At the same time, Colombia (+42.0%), Brazil (+8.9%) and Chile (+3.8%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +42.0% from 2012-2022. By contrast, Ecuador (-9.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Argentina, Colombia and Brazil increased by +46, +8.9 and +3.4 percentage points, respectively.

In value terms, Argentina ($X) remains the largest inedible fish products supplier in MERCOSUR, comprising 69% of total exports. The second position in the ranking was held by Chile ($X), with a 12% share of total exports. It was followed by Colombia, with a 7.3% share.

In Argentina, inedible fish products exports expanded at an average annual rate of +41.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (+7.4% per year) and Colombia (+23.5% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, increasing by 26% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 59%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+10.2%), while the other leaders experienced more modest paces of growth.

Inedible Fish Products Imports

Imports in MERCOSUR

In 2022, supplies from abroad of inedible fish products was finally on the rise to reach X tons after two years of decline. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 42% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, inedible fish products imports reduced slightly to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -26.8% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by 35%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Ecuador (X tons) represented roughly 98% of total imports in 2022.

Ecuador was also the fastest-growing in terms of the inedible fish products imports, with a CAGR of +6.5% from 2012 to 2022. Ecuador (+9.1 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) constitutes the largest market for imported inedible fish products in MERCOSUR.

From 2012 to 2022, the average annual growth rate of value in Ecuador stood at +9.1%.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, shrinking by -11.4% against the previous year. Over the period under review, the import price recorded a noticeable descent. The most prominent rate of growth was recorded in 2016 when the import price increased by 12% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Ecuador.

From 2012 to 2022, the rate of growth in terms of prices for Ecuador amounted to +2.4% per year.

Source: IndexBox Platform