Uruguay: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Uruguay

The Uruguayan frozen fish fillet market fell to $X in 2022, which is down by -2.5% against the previous year. Over the period under review, consumption, however, posted a moderate increase. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Frozen Fish Fillet Production in Uruguay

In value terms, frozen fish fillet production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a deep reduction. The growth pace was the most rapid in 2018 with an increase of 187%. Frozen fish fillet production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Frozen Fish Fillet Exports

Exports from Uruguay

In 2022, shipments abroad of frozen fish fillet decreased by -13.2% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports saw a precipitous decline. The most prominent rate of growth was recorded in 2018 with an increase of 36%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, frozen fish fillet exports shrank significantly to $X in 2022. Over the period under review, exports recorded a dramatic decrease. The most prominent rate of growth was recorded in 2018 with an increase of 48% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for frozen fish fillet exports from Uruguay, accounting for a 97% share of total exports. Moreover, frozen fish fillet exports to Brazil exceeded the volume sent to the second major destination, Trinidad and Tobago (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil totaled -10.5%.

In value terms, Brazil ($X) remains the key foreign market for frozen fish fillet exports from Uruguay, comprising 97% of total exports. The second position in the ranking was held by Trinidad and Tobago ($X), with a 3.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil amounted to -10.7%.

Export Prices by Country

The average frozen fish fillet export price stood at $X per ton in 2022, waning by -2.9% against the previous year. Overall, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 an increase of 10% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Trinidad and Tobago amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Fillet Imports

Imports into Uruguay

Frozen fish fillet imports into Uruguay reduced to X tons in 2022, waning by -11.9% compared with 2021. Overall, imports saw a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, frozen fish fillet imports totaled $X in 2022. In general, imports saw a mild slump. The most prominent rate of growth was recorded in 2013 with an increase of 30%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest frozen fish fillet supplier to Uruguay, accounting for a 70% share of total imports. Moreover, frozen fish fillet imports from Vietnam exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+2.2% per year) and China (-2.2% per year).

In value terms, Vietnam ($X) constituted the largest supplier of frozen fish fillet to Uruguay, comprising 61% of total imports. The second position in the ranking was held by Argentina ($X), with a 20% share of total imports. It was followed by China, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+1.4% per year) and China (-1.5% per year).

Import Prices by Country

The average frozen fish fillet import price stood at $X per ton in 2022, picking up by 16% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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