Venezuela: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Venezuela

The Venezuelan frozen fish fillet market soared to $X in 2022, growing by 317% against the previous year. Overall, consumption, however, faced a sharp curtailment. Frozen fish fillet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Frozen Fish Fillet Production in Venezuela

In value terms, frozen fish fillet production declined to $X in 2022 estimated in export price. Overall, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.2% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 27%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Frozen Fish Fillet Exports

Exports from Venezuela

In 2022, approx. X tons of frozen fish fillet were exported from Venezuela; growing by 18% against 2021. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 779% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, frozen fish fillet exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 742%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for frozen fish fillet exports from Venezuela, with a 94% share of total exports. Moreover, frozen fish fillet exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +75.5%.

In value terms, the United States ($X) remains the key foreign market for frozen fish fillet exports from Venezuela, comprising 94% of total exports. The second position in the ranking was held by Japan ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +93.9%.

Export Prices by Country

The average frozen fish fillet export price stood at $X per ton in 2022, jumping by 32% against the previous year. Over the period under review, the export price enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2017 an increase of 48%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+10.8%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Fish Fillet Imports

Imports into Venezuela

In 2022, overseas purchases of frozen fish fillet increased by 61% to X tons, rising for the fifth consecutive year after five years of decline. Over the period under review, imports, however, recorded a dramatic contraction. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish fillet imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2021 when imports increased by 79% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Vietnam (X tons), Chile (X tons) and the United States (X tons) were the main suppliers of frozen fish fillet imports to Venezuela, with a combined 33% share of total imports. Peru, China, Taiwan (Chinese) and Norway lagged somewhat behind, together comprising a further 7.8%.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +34.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Chile ($X), Vietnam ($X) and the United States ($X) constituted the largest frozen fish fillet suppliers to Venezuela, together accounting for 47% of total imports. Taiwan (Chinese), Norway, Peru and China lagged somewhat behind, together accounting for a further 10%.

Norway, with a CAGR of +33.2%, recorded the highest rates of growth with regard to 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 fillet import price amounted to $X per ton, reducing by -12.5% against the previous year. Overall, the import price, however, enjoyed a moderate increase. The growth pace was the most rapid in 2018 when the average import price increased by 45%. The import price peaked at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :