Mexico: Preserved Tuna Market 2024

Preserved Tuna Market Size in Mexico

In 2021, the Mexican preserved tuna market increased by 3.6% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Preserved Tuna Production in Mexico

In value terms, preserved tuna production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.8% against 2018 indices. The growth pace was the most rapid in 2018 when the production volume increased by 23% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Preserved Tuna Exports

Exports from Mexico

In 2021, the amount of tuna (prepared or preserved) exported from Mexico shrank to X tons, with a decrease of -3.8% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 125% against the previous year. As a result, the exports reached the peak of X tons, and then fell modestly in the following year.

In value terms, preserved tuna exports declined rapidly to $X in 2021. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 109% against the previous year. The exports peaked at $X in 2020, and then shrank sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for preserved tuna exports from Mexico, with a 98% share of total exports. It was followed by Cuba (X tons), with a 1.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +16.3%.

In value terms, the United States ($X) remains the key foreign market for tuna (prepared or preserved) exports from Mexico, comprising 98% of total exports. The second position in the ranking was held by Cuba ($X), with a 1.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +14.9%.

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, declining by -24.1% against the previous year. Overall, the export price saw a slight setback. The pace of growth appeared the most rapid in 2017 an increase of 19%. Over the period under review, the average 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.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cuba amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-1.3%), while the prices for the other major destinations experienced a decline.

Preserved Tuna Imports

Imports into Mexico

In 2021, approx. X tons of tuna (prepared or preserved) were imported into Mexico; which is down by -28.1% against the previous year's figure. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 81% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved tuna imports declined notably to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 77%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of preserved tuna to Mexico, with a 98% share of total imports. It was followed by Spain (X tons), with a 1.8% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +9.8%.

In value terms, China ($X) constituted the largest supplier of tuna (prepared or preserved) to Mexico, comprising 93% of total imports. The second position in the ranking was held by Spain ($X), with a 6.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +4.4%.

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the import price, however, saw a perceptible reduction. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+2.5%).

Source: IndexBox Platform

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