Venezuela: Molluscs Market 2024

Molluscs Market Size in Venezuela

For the third consecutive year, the Venezuelan molluscs market recorded decline in sales value, which decreased by -0.6% to $X in 2021. In general, consumption continues to indicate a noticeable reduction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Molluscs Production in Venezuela

In value terms, molluscs production expanded slightly to $X in 2021 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -34.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 33% against the previous year. Molluscs production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Molluscs Exports

Exports from Venezuela

In 2021, the amount of molluscs (scallops, mussels, cuttle fish, squid and octopus) exported from Venezuela soared to X tons, rising by 255% against the year before. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, molluscs exports surged to $X in 2021. In general, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons), Portugal (X tons) and the United States (X tons) were the main destinations of molluscs exports from Venezuela, together accounting for 49% of total exports.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +447.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Portugal ($X) and the United States ($X) were the largest markets for molluscs exported from Venezuela worldwide, together accounting for 46% of total exports.

Portugal, with a CAGR of +979.1%, saw the highest growth rate of the value of exports, in terms of 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 molluscs export price stood at $X per ton in 2021, jumping by 50% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the average export price increased by 69% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Spain ($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 Portugal (+97.2%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into Venezuela

Molluscs imports into Venezuela skyrocketed to X tons in 2021, picking up by 53% against the previous year. Over the period under review, imports, however, saw a dramatic descent. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, molluscs imports soared to $X in 2021. In general, imports, however, recorded a precipitous decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest molluscs supplier to Venezuela, accounting for a 65% share of total imports. Moreover, molluscs imports from the United States exceeded the figures recorded by the second-largest supplier, Peru (X tons), fourfold. The third position in this ranking was taken by Uruguay (X tons), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (-28.6% per year) and Uruguay (-9.5% per year).

In value terms, the United States ($X) constituted the largest supplier of molluscs (scallops, mussels, cuttle fish, squid and octopus) to Venezuela, comprising 51% of total imports. The second position in the ranking was taken by Peru ($X), with a 21% share of total imports. It was followed by Uruguay, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (-30.3% per year) and Uruguay (-8.7% per year).

Import Prices by Country

The average molluscs import price stood at $X per ton in 2021, dropping by -2.2% against the previous year. Over the period under review, the import price recorded a noticeable reduction. The growth pace was the most rapid in 2016 when the average import price increased by 92% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for the United States ($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 (+25.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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