MERCOSUR: Preserved Tuna Market 2024

Preserved Tuna Market Size in MERCOSUR

The MERCOSUR preserved tuna market rose modestly to $X in 2021, growing by 1.8% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Preserved Tuna Production in MERCOSUR

In value terms, preserved tuna production expanded remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 21%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Preserved Tuna Exports

Exports in MERCOSUR

For the sixth year in a row, MERCOSUR recorded growth in shipments abroad of tuna (prepared or preserved), which increased by 3% to X tons in 2021. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +48.1% against 2015 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 26% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, preserved tuna exports reached $X in 2021. Total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 48% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Ecuador dominates exports structure, recording X tons, which was near 95% of total exports in 2021. Peru (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to preserved tuna exports from Ecuador stood at +5.9%. At the same time, Peru (+23.3%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +23.3% from 2012-2021. From 2012 to 2021, the share of Peru increased by +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest preserved tuna supplier in MERCOSUR, comprising 95% of total exports. The second position in the ranking was taken by Peru ($X), with a 2.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Ecuador stood at +3.5%.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, picking up by 4.5% against the previous year. Over the period under review, the export price, however, showed a perceptible descent. The pace of growth was the most pronounced in 2017 when the export price increased by 17% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Ecuador totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (-2.3%).

Preserved Tuna Imports

Imports in MERCOSUR

In 2021, after four years of growth, there was significant decline in supplies from abroad of tuna (prepared or preserved), when their volume decreased by -13.7% to X tons. The total import volume increased at an average annual rate of +4.0% over the period 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 2020 with an increase of 25%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, preserved tuna imports declined to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 27% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Colombia (X tons), distantly followed by Chile (X tons), Peru (X tons) and Argentina (X tons) were the main importers of tuna (prepared or preserved), together comprising 91% of total imports. The following importers - Venezuela (X tons) and Uruguay (X tons) - together made up 5.7% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Colombia (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Chile ($X) and Peru ($X) were the countries with the highest levels of imports in 2021, with a combined 74% share of total imports.

In terms of the main importing countries, Colombia, with a CAGR of +15.9%, 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

In 2021, the import price in MERCOSUR amounted to $X per ton, growing by 4.2% against the previous year. In general, the import price, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 an increase of 9.4% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Argentina ($X per ton) and Uruguay ($X per ton), while Chile ($X per ton) and Venezuela ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+0.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform