Uruguay: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in Uruguay

The Uruguayan frozen cuttlefishes market soared to $X in 2021, with an increase of 29% 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, however, recorded a buoyant increase. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Frozen Cuttlefishes Exports

Exports from Uruguay

For the third year in a row, Uruguay recorded decline in shipments abroad of frozen cuttlefishes, which decreased by -33% to X tons in 2021. Over the period under review, exports faced a sharp decrease. The pace of growth appeared the most rapid in 2014 with an increase of 70% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, frozen cuttlefishes exports dropped significantly to $X in 2021. In general, exports faced a precipitous curtailment. The growth pace was the most rapid in 2018 when exports increased by 25% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), Spain (X tons) and Australia (X tons) were the main destinations of frozen cuttlefishes exports from Uruguay, with a combined 43% share of total exports. South Africa, Namibia, Venezuela, the Philippines, Iceland, Algeria, the United States, Panama, Brazil and New Zealand lagged somewhat behind, together comprising a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of -5.2%), while the other leaders experienced a decline.

In value terms, the largest markets for frozen cuttlefishes exported from Uruguay were Spain ($X), Australia ($X) and Venezuela ($X), together comprising 62% of total exports. South Africa, the Philippines, Namibia, Iceland, Algeria, the United States, China, Brazil, New Zealand and Panama lagged somewhat behind, together accounting for a further 31%.

Among the main countries of destination, the Philippines, with a CAGR of +2.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average frozen cuttlefishes export price stood at $X per ton in 2021, with an increase of 7.2% against the previous year. Overall, the export price posted tangible growth. The growth pace was the most rapid in 2016 when the average export price increased by 115%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per ton), while the average price for exports to Panama ($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 the Philippines (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Uruguay

For the fifth consecutive year, Uruguay recorded decline in overseas purchases of frozen cuttlefishes, which decreased by -18.1% to X tons in 2021. Over the period under review, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 46%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, frozen cuttlefishes imports soared to $X in 2021. In general, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2016 when imports increased by 78%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest frozen cuttlefishes supplier to Uruguay, with a 80% share of total imports. Moreover, frozen cuttlefishes imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-12.0% per year) and the United States (-24.2% per year).

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and the United States ($X) were the largest frozen cuttlefishes suppliers to Uruguay, together accounting for 82% of total imports.

Among the main suppliers, South Korea, with a CAGR of +32.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, picking up by 47% against the previous year. In general, the import price saw a significant increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 54%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+72.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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