Uruguay: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Uruguay

The Uruguayan frozen fish and seafood market fell to $X in 2022, dropping by X% against the previous year. Over the period under review, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Frozen fish and seafood consumption peaked at $X in 2021, and then contracted in the following year.

Production of Frozen Fish And Seafood in Uruguay

In value terms, frozen fish and seafood production reduced to $X in 2022 estimated in export price. In general, production saw a pronounced curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports from Uruguay

In 2022, overseas shipments of frozen fish and seafood increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a mild curtailment. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports skyrocketed to $X in 2022. In general, exports, however, saw a pronounced contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Cameroon (X tons) and Nigeria (X tons) were the main destinations of frozen fish and seafood exports from Uruguay, together accounting for X% of total exports. Colombia, Brazil, Russia, Gabon, Cote d'Ivoire, Congo, Bangladesh, Guinea, Israel and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guinea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen fish and seafood exported from Uruguay were China ($X), Cameroon ($X) and Nigeria ($X), with a combined X% share of total exports. Brazil, Colombia, Russia, Gabon, the United States, Congo, Cote d'Ivoire, Guinea, Israel and Bangladesh lagged somewhat behind, together accounting for a further X%.

Guinea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guinea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Uruguay

In 2022, approx. X tons of frozen fish and seafood were imported into Uruguay; falling by X% on the year before. In general, imports showed a deep contraction. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, frozen fish and seafood imports shrank rapidly to $X in 2022. Overall, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), Vietnam (X tons) and China (X tons) were the main suppliers of frozen fish and seafood imports to Uruguay, with a combined X% share of total imports. Argentina, Ecuador, Japan, Brazil and Spain lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Taiwan (Chinese) ($X) and China ($X) appeared to be the largest frozen fish and seafood suppliers to Uruguay, together comprising X% of total imports. Argentina, Ecuador, Spain, Brazil and Japan lagged somewhat behind, together accounting for a further X%.

Brazil, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average frozen fish and seafood import price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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