Uruguay: Molluscs Market 2024

Molluscs Market Size in Uruguay

The Uruguayan molluscs market reduced sharply to $X in 2021, waning by -43.9% against the previous year. Overall, consumption continues to indicate a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Molluscs Production in Uruguay

In value terms, molluscs production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 33%. Over the period under review, production attained the peak level at $X in 2020, and then reduced in the following year.

Molluscs Exports

Exports from Uruguay

In 2021, shipments abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) increased by 9.8% to X tons, rising for the fourth consecutive year after three years of decline. In general, exports recorded strong growth. The growth pace was the most rapid in 2020 with an increase of 379% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, molluscs exports shrank to $X in 2021. Over the period under review, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 when exports increased by 322%. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

China (X tons) was the main destination for molluscs exports from Uruguay, with a 58% share of total exports. Moreover, molluscs exports to China exceeded the volume sent to the second major destination, Thailand (X tons), tenfold. Greece (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+6.9% per year) and Greece (+32.7% per year).

In value terms, China ($X) remains the key foreign market for molluscs (scallops, mussels, cuttle fish, squid and octopus) exports from Uruguay, comprising 54% of total exports. The second position in the ranking was taken by Thailand ($X), with a 6.6% share of total exports. It was followed by Slovenia, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+6.0% per year) and Slovenia (+37.0% per year).

Export Prices by Country

In 2021, the average molluscs export price amounted to $X per ton, declining by -20.3% against the previous year. In general, the export price showed a slight slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Spain ($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 South Africa (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into Uruguay

For the seventh year in a row, Uruguay recorded decline in overseas purchases of molluscs (scallops, mussels, cuttle fish, squid and octopus), which decreased by -14.7% to X tons in 2021. In general, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 11%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, molluscs imports contracted modestly to $X in 2021. Over the period under review, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2014 when imports increased by 14% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest molluscs supplier to Uruguay, with a 74% share of total imports. Moreover, molluscs imports from China exceeded the figures recorded by the second-largest supplier, Chile (X tons), more than tenfold. Peru (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-27.5% per year) and Peru (-33.0% per year).

In value terms, China ($X) constituted the largest supplier of molluscs (scallops, mussels, cuttle fish, squid and octopus) to Uruguay, comprising 78% of total imports. The second position in the ranking was taken by Portugal ($X), with a 4.5% share of total imports. It was followed by Spain, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-17.0% per year) and Spain (-29.1% per year).

Import Prices by Country

The average molluscs import price stood at $X per ton in 2021, increasing by 12% against the previous year. In general, the import price recorded a remarkable increase. The growth pace was the most rapid in 2017 an increase of 36%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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