Uruguay: Market for Frozen Crabs And Crabs Meat 2024

Market Size for Frozen Crabs And Crabs Meat in Uruguay

The Uruguayan market for frozen crabs and crabs meat fell dramatically to $X in 2021, waning by -71.1% against the previous year. Overall, consumption recorded a precipitous decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Frozen Crabs And Crabs Meat in Uruguay

In value terms, frozen crab and crab meat production soared to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt contraction. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Frozen Crabs And Crabs Meat

Exports from Uruguay

In 2021, frozen crab and crab meat exports from Uruguay surged to X tons, picking up by 373% on the previous year's figure. Overall, exports posted a measured increase. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, frozen crab and crab meat exports soared to $X in 2021. In general, exports enjoyed perceptible growth. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for frozen crab and crab meat exports from Uruguay, with a 42% share of total exports. Moreover, frozen crab and crab meat exports to Indonesia exceeded the volume sent to the second major destination, China (X tons), fivefold. Spain (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia stood at +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-13.3% per year) and Spain (-8.2% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for frozen crabs and crabs meat exports from Uruguay, comprising 42% of total exports. The second position in the ranking was taken by China ($X), with an 11% share of total exports. It was followed by Spain, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia totaled +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-11.9% per year) and Spain (-10.3% per year).

Export Prices by Country

In 2021, the average export price for frozen crabs and crabs meat amounted to $X per ton, growing by 45% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Indonesia ($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 Vietnam (+64.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Crabs And Crabs Meat

Imports into Uruguay

In 2021, purchases abroad of frozen crabs and crabs meat decreased by -85.5% to X kg, falling for the second consecutive year after three years of growth. Overall, imports saw a deep contraction. The pace of growth was the most pronounced in 2013 when imports increased by 172%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, frozen crab and crab meat imports shrank remarkably to $X in 2021. Over the period under review, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2013 when imports increased by 150% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Norway (X kg) constituted the largest supplier of frozen crab and crab meat to Uruguay, with a 53% share of total imports. Moreover, frozen crab and crab meat imports from Norway exceeded the figures recorded by the second-largest supplier, Germany (X kg), twofold. The third position in this ranking was held by the United States (X kg), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Norway stood at -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+61.8% per year) and the United States (-17.0% per year).

In value terms, the largest frozen crab and crab meat suppliers to Uruguay were Norway ($X), Germany ($X) and the United States ($X), together accounting for 94% of total imports.

Germany, with a CAGR of +48.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for frozen crabs and crabs meat amounted to $X per ton, with an increase of 12% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen crab and crab meat import price increased by +68.1% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by 46% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Chile ($X per ton) and Germany ($X per ton), while the price for Norway ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+36.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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