MERCOSUR: Smoked Salmon Market 2024

Smoked Salmon Market Size in MERCOSUR

The MERCOSUR smoked salmon market reduced slightly to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Smoked Salmon Production in MERCOSUR

In value terms, smoked salmon production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 29%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Smoked Salmon Exports

Exports in MERCOSUR

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were exported in MERCOSUR; surging by 9.5% compared with 2021 figures. Overall, exports, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of 30% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, smoked salmon exports soared to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +18.1% against 2018 indices. The growth pace was the most rapid in 2017 when exports increased by 42%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, Chile (X tons) was the main exporter of smoked pacific, atlantic and danube salmon in MERCOSUR, committing 100% of total export.

Chile was also the fastest-growing in terms of the smoked pacific, atlantic and danube salmon exports, with a CAGR of -1.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) also remains the largest smoked salmon supplier in MERCOSUR.

In Chile, smoked salmon exports increased at an average annual rate of +2.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, with an increase of 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2017 an increase of 18%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for Chile amounted to +4.7% per year.

Smoked Salmon Imports

Imports in MERCOSUR

In 2022, purchases abroad of smoked pacific, atlantic and danube salmon increased by 19% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 30% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, smoked salmon imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when imports increased by 39%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Colombia was the key importing country with an import of around X tons, which finished at 43% of total imports. Uruguay (X tons) ranks second in terms of the total imports with a 19% share, followed by Argentina (9.4%), Venezuela (6.1%), Chile (5%) and Brazil (5%). Peru (X tons) followed a long way behind the leaders.

Imports into Colombia decreased at an average annual rate of -1.8% from 2012 to 2022. At the same time, Chile (+7.7%) and Uruguay (+1.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +7.7% from 2012-2022. By contrast, Argentina (-8.5%), Peru (-12.6%), Venezuela (-13.2%) and Brazil (-23.3%) illustrated a downward trend over the same period. Colombia (+19 p.p.), Uruguay (+11 p.p.) and Chile (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while Peru, Venezuela and Brazil saw its share reduced by -3.5%, -5.9% and -28.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X) constitutes the largest market for imported smoked pacific, atlantic and danube salmon in MERCOSUR, comprising 41% of total imports. The second position in the ranking was taken by Uruguay ($X), with a 15% share of total imports. It was followed by Argentina, with a 13% share.

In Colombia, smoked salmon imports declined by an average annual rate of -1.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Uruguay (+0.8% per year) and Argentina (-3.9% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 when the import price increased by 17%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform