Colombia: Bigeye Tuna Market 2022

Bigeye Tuna Market Size in Colombia

The Colombian bigeye tuna market totaled $X in 2020, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level in 2020 and is likely to continue growth in years to come.

Bigeye Tuna Exports

Exports from Colombia

In 2020, shipments abroad of bigeye tuna decreased by -X% to X tons, falling for the ninth year in a row after two years of growth. Overall, exports recorded a deep setback. The pace of growth was the most pronounced in 2010 when exports increased by X% year-to-year. Over the period under review, exports attained the maximum at X tons in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

In value terms, bigeye tuna exports contracted to $X in 2020. In general, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Exports peaked at $X in 2008; however, from 2009 to 2020, exports remained at a lower figure.

Exports by Country

Free Zones (X tons) was the main destination for bigeye tuna exports from Colombia, with a X% share of total exports. Moreover, bigeye tuna exports to Free Zones exceeded the volume sent to the second major destination, Ecuador (X tons), more than tenfold. Vietnam (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Free Zones totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-X% per year) and Vietnam (X% per year).

In value terms, Free Zones ($X) remains the key foreign market for bigeye tuna exports from Colombia, comprising X% of total exports. The second position in the ranking was occupied by Ecuador ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Free Zones amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2020, the average bigeye tuna export price amounted to $X per ton, increasing by X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2008 an increase of X% y-o-y. The export price peaked at $X per ton in 2017; however, from 2018 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Ecuador ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador, while the prices for the other major destinations experienced more modest paces of growth.

Bigeye Tuna Imports

Imports into Colombia

Bigeye tuna imports into Colombia skyrocketed to X tons in 2020, growing by X% on 2019. Over the period under review, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. Imports peaked in 2020 and are likely to continue growth in the near future.

In value terms, bigeye tuna imports surged to $X in 2020. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2012 when imports increased by X% y-o-y. Imports peaked in 2020 and are expected to retain growth in the immediate term.

Imports by Country

Ghana (X tons), Cote d'Ivoire (X tons) and Seychelles (X tons) were the main suppliers of bigeye tuna imports to Colombia, together accounting for X% of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Seychelles (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bigeye tuna suppliers to Colombia were Ghana ($X), Cote d'Ivoire ($X) and Seychelles ($X), with a combined X% share of total imports.

Among the main suppliers, Ghana (+X% per year) saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average bigeye tuna import price amounted to $X per ton, dropping by -X% against the previous year. Overall, import price indicated a temperate increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, bigeye tuna import price decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2016 an increase of X% y-o-y. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Ghana ($X per ton), while the price for Senegal ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Ghana, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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