Latin America and the Caribbean: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Latin America and the Caribbean

The Latin American preserved anchovies market amounted to $X in 2022, surging by X% against the previous year. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Preserved Anchovies Production in Latin America and the Caribbean

In value terms, preserved anchovies production expanded to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Preserved Anchovies Exports

Exports in Latin America and the Caribbean

Preserved anchovies exports reduced remarkably to X tons in 2022, shrinking by X% against the previous year. Over the period under review, exports showed a noticeable setback. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, preserved anchovies exports fell markedly to $X in 2022. Total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2021, and then dropped remarkably in the following year.

Exports by Country

The shipments of the one major exporters of anchovies (prepared or preserved), namely Peru, represented more than two-thirds of total export.

Peru was also the fastest-growing in terms of the anchovies (prepared or preserved) exports, with a CAGR of X% from 2012 to 2022. While the share of Peru (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) also remains the largest preserved anchovies supplier in Latin America and the Caribbean.

In Peru, preserved anchovies exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, remaining constant against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved anchovies export price increased by X% against 2012 indices. The growth pace was the most rapid in 2020 an increase of X%. The level of export peaked at $X per ton in 2021, and then shrank slightly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Peru amounted to X% per year.

Preserved Anchovies Imports

Imports in Latin America and the Caribbean

In 2022, the amount of anchovies (prepared or preserved) imported in Latin America and the Caribbean totaled X tons, remaining stable against the year before. Overall, imports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, preserved anchovies imports soared to $X in 2022. In general, imports, however, continue to indicate a pronounced shrinkage. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Bolivia was the key importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Brazil (X tons), Mexico (X tons), Haiti (X tons), Panama (X tons) and Colombia (X tons), together comprising a X% share of total imports. The Dominican Republic (X tons) and Bahamas (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to preserved anchovies imports into Bolivia stood at X%. At the same time, Panama (X%), Colombia (X%), the Dominican Republic (X%) and Bahamas (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Mexico (X%), Brazil (X%) and Haiti (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.), Panama (X p.p.), Colombia (X p.p.), Mexico (X p.p.) and the Dominican Republic (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Haiti (X p.p.) and Bolivia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest preserved anchovies importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Haiti ($X), together accounting for X% of total imports. Bolivia, Colombia, the Dominican Republic, Panama and Bahamas lagged somewhat behind, together comprising a further X%.

Panama, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved anchovies import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Haiti (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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