Uruguay: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Uruguay

The Uruguayan fresh fish fillet market soared to $X in 2021, with an increase of 41% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a significant increase. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the near future.

Fresh Fish Fillet Exports

Exports from Uruguay

In 2021, shipments abroad of fresh or chilled fish fillets increased by 73% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 1,005%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fresh fish fillet exports dropped sharply to $X in 2021. Over the period under review, exports, however, faced a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by 131% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Angola (X tons) was the main destination for fresh fish fillet exports from Uruguay, with a 65% share of total exports. Moreover, fresh fish fillet exports to Angola exceeded the volume sent to the second major destination, Colombia (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Angola stood at -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-37.9% per year) and the United States (-30.0% per year).

In value terms, the largest markets for fresh fish fillet exported from Uruguay were Colombia ($X), Angola ($X) and the United States ($X), with a combined 94% share of total exports.

Angola, with a CAGR of -16.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, with a decrease of -56.9% against the previous year. Over the period under review, the export price recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 an increase of 222% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Angola ($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 Algeria (+40.5%), while the prices for the other major destinations experienced mixed trend patterns.

Fresh Fish Fillet Imports

Imports into Uruguay

In 2021, imports of fresh or chilled fish fillets into Uruguay surged to X tons, picking up by 34% compared with the previous year's figure. Over the period under review, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 270% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, fresh fish fillet imports skyrocketed to $X in 2021. Overall, imports showed buoyant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 139% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Argentina (X tons), Chile (X tons) and China (X tons) were the main suppliers of fresh fish fillet imports to Uruguay, together comprising 99% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +13.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Chile ($X) constituted the largest supplier of fresh or chilled fish fillets to Uruguay, comprising 72% of total imports. The second position in the ranking was held by Argentina ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Chile stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+6.3% per year) and China (+0.1% per year).

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, increasing by 10% against the previous year. In general, the import price, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2017 an increase of 36%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :