Uruguay: Preserved Tuna Market 2024

Preserved Tuna Market Size in Uruguay

After five years of growth, the Uruguayan preserved tuna market decreased by -4.5% to $X in 2021. The market value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Preserved tuna consumption peaked at $X in 2020, and then contracted modestly in the following year.

Preserved Tuna Production in Uruguay

In value terms, preserved tuna production contracted to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +74.4% against 2015 indices. The growth pace was the most rapid in 2016 when the production volume increased by 17%. Over the period under review, production attained the maximum level at $X in 2020, and then declined in the following year.

Preserved Tuna Exports

Exports from Uruguay

In 2021, approx. X tons of tuna (prepared or preserved) were exported from Uruguay; remaining relatively unchanged against the previous year. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 23,441%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, preserved tuna exports amounted to $X in 2021. Overall, exports posted a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 13,332%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Brazil (X tons) was the main destination for preserved tuna exports from Uruguay, with a approx. 100% share of total exports.

From 2014 to 2021, the average annual growth rate of volume to Brazil was relatively modest.

From 2014 to 2021, the average annual growth rate of value to Brazil was relatively modest.

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, leveling off at the previous year. Over the period under review, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2015 a decrease of -42.9% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2014 to 2021, the rate of growth in terms of prices for Angola amounted to 0.0% per year.

Preserved Tuna Imports

Imports into Uruguay

In 2021, approx. X tons of tuna (prepared or preserved) were imported into Uruguay; remaining relatively unchanged against 2020 figures. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +12.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 56% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, preserved tuna imports reached $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.3% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 60%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest preserved tuna supplier to Uruguay, accounting for a 76% share of total imports. Moreover, preserved tuna imports from Ecuador exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fivefold. The third position in this ranking was held by Thailand (X tons), with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume from Ecuador amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+1.9% per year) and Thailand (+2.1% per year).

In value terms, Ecuador ($X) constituted the largest supplier of tuna (prepared or preserved) to Uruguay, comprising 75% of total imports. The second position in the ranking was held by Brazil ($X), with a 13% share of total imports. It was followed by Spain, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value from Ecuador totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+3.9% per year) and Spain (-5.1% per year).

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, remaining stable against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 19% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Thailand ($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 (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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