Peru: Preserved Tuna Market 2024

Preserved Tuna Market Size in Peru

In 2021, the Peruvian preserved tuna market decreased by -5.6% to $X, falling for the second consecutive year after three years of growth. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Preserved Tuna Production in Peru

In value terms, preserved tuna production soared to $X in 2021 estimated in export price. Overall, production, however, showed a mild downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 85%. 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 Peru

Preserved tuna exports from Peru reduced rapidly to X tons in 2021, with a decrease of -38.1% against 2020. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 235%. Over the period under review, the exports attained the maximum at X tons in 2020, and then declined sharply in the following year.

In value terms, preserved tuna exports fell notably to $X in 2021. Overall, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by 223% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons), Italy (X tons) and Colombia (X tons) were the main destinations of preserved tuna exports from Peru, with a combined 60% share of total exports. Spain, Venezuela, Panama, the Netherlands and Portugal lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Venezuela (with a CAGR of +4,854.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved tuna exported from Peru were Italy ($X), the UK ($X) and Colombia ($X), together accounting for 67% of total exports. Spain, Venezuela, Panama, the Netherlands and Portugal lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, Venezuela, with a CAGR of +4,112.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved tuna export price amounted to $X per ton, with an increase of 2.7% against the previous year. Overall, the export price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($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 Italy (+0.1%), while the prices for the other major destinations experienced a decline.

Preserved Tuna Imports

Imports into Peru

In 2021, supplies from abroad of tuna (prepared or preserved) decreased by -38.1% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 67%. Imports peaked at X tons in 2020, and then dropped notably in the following year.

In value terms, preserved tuna imports reduced notably to $X in 2021. Overall, imports, however, continue to indicate noticeable growth. The pace of growth appeared the most rapid in 2019 with an increase of 55% against the previous year. Imports peaked at $X in 2020, and then fell notably in the following year.

Imports by Country

In 2021, Thailand (X tons) constituted the largest preserved tuna supplier to Peru, accounting for a 57% share of total imports. Moreover, preserved tuna imports from Thailand exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand stood at +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-9.1% per year) and China (+15.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of tuna (prepared or preserved) to Peru, comprising 59% of total imports. The second position in the ranking was taken by Ecuador ($X), with a 19% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand amounted to +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-11.5% per year) and China (+15.7% per year).

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced descent. The import price 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 supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Thailand ($X per ton) and China ($X per ton), while the price for the Philippines ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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