Peru: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Peru

The Peruvian preserved mackerel market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Preserved Mackerel Production in Peru

In value terms, preserved mackerel production dropped to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 22% against the previous year. Preserved mackerel production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Preserved Mackerel Exports

Exports from Peru

In 2021, shipments abroad of mackerel (prepared or preserved) decreased by -54.7% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports recorded a dramatic contraction. The pace of growth was the most pronounced in 2020 when exports increased by 93% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved mackerel exports dropped remarkably to $X in 2021. Overall, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2020 with an increase of 90%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Sri Lanka (X tons) was the main destination for preserved mackerel exports from Peru, with a 69% share of total exports. Moreover, preserved mackerel exports to Sri Lanka exceeded the volume sent to the second major destination, Ghana (X tons), eightfold. Haiti (X tons) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sri Lanka amounted to -20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (-24.8% per year) and Haiti (-21.0% per year).

In value terms, Sri Lanka ($X) remains the key foreign market for mackerel (prepared or preserved) exports from Peru, comprising 68% of total exports. The second position in the ranking was held by Ghana ($X), with an 8.5% share of total exports. It was followed by Italy, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sri Lanka stood at -15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (-9.7% per year) and Italy (-11.7% per year).

Export Prices by Country

The average preserved mackerel export price stood at $X per ton in 2021, surging by 14% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved mackerel export price increased by +80.8% against 2012 indices. The pace of growth appeared the most rapid in 2017 an increase of 19%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Mackerel Imports

Imports into Peru

In 2021, supplies from abroad of mackerel (prepared or preserved) decreased by -45.2% to X tons for the first time since 2011, thus ending a nine-year rising trend. Overall, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 46% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then plummeted in the following year.

In value terms, preserved mackerel imports declined rapidly to $X in 2021. In general, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 when imports increased by 40% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then reduced markedly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of preserved mackerel to Peru, with a 90% share of total imports. Moreover, preserved mackerel imports from China exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +55.7%.

In value terms, China ($X) constituted the largest supplier of mackerel (prepared or preserved) to Peru, comprising 94% of total imports. The second position in the ranking was held by Ecuador ($X), with a 5.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +58.2%.

Import Prices by Country

In 2021, the average preserved mackerel import price amounted to $X per ton, declining by -17% against the previous year. In general, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2020 an increase of 2%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 China ($X per ton), while the price for Ecuador totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.6%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :