Latin America and the Caribbean: Bigeye Tuna Market 2022

Bigeye Tuna Market Size in Latin America and the Caribbean

In 2020, after two years of growth, there was significant decline in the Latin American bigeye tuna market, when its value decreased by -X% to $X. Overall, consumption, however, posted a measured expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. from 2014 to 2020, the growth of the market failed to regain the momentum.

Bigeye Tuna Production in Latin America and the Caribbean

In value terms, bigeye tuna production totaled $X in 2020 estimated in export prices. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. The level of production peaked at $X in 2014; however, from 2015 to 2020, production stood at a somewhat lower figure.

Production By Country in Latin America and the Caribbean

The countries with the highest volumes of bigeye tuna production in 2020 were Ecuador (X tons), Panama (X tons) and El Salvador (X tons), together comprising X% of total production.

From 2007 to 2020, the biggest increases were in El Salvador, while bigeye tuna production for the other leaders experienced more modest paces of growth.

Bigeye Tuna Exports

Exports in Latin America and the Caribbean

In 2020, the amount of bigeye tuna exported in Latin America and the Caribbean shrank dramatically to X tons, declining by -X% against 2019. Overall, exports saw a pronounced downturn. The most prominent rate of growth was recorded in 2008 when exports increased by X% y-o-y. Over the period under review, exports reached the maximum at X tons in 2010; however, from 2011 to 2020, exports stood at a somewhat lower figure.

In value terms, bigeye tuna exports reduced markedly to $X in 2020. In general, exports saw a pronounced decline. The pace of growth was the most pronounced in 2008 when exports increased by X% y-o-y. Over the period under review, exports hit record highs at $X in 2017; however, from 2018 to 2020, exports stood at a somewhat lower figure.

Exports by Country

In 2020, Panama (X tons) and Nicaragua (X tons) represented the main exporters of bigeye tuna in Latin America and the Caribbean, together reaching approx. X% of total exports. It was distantly followed by El Salvador (X tons), Ecuador (X tons), Brazil (X tons), Guatemala (X tons) and Colombia (X tons), together creating a X% share of total exports.

From 2007 to 2020, the biggest increases were in Brazil, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest bigeye tuna supplying countries in Latin America and the Caribbean were Panama ($X), Nicaragua ($X) and El Salvador ($X), together comprising X% of total exports. These countries were followed by Brazil, Guatemala, Ecuador and Colombia, which together accounted for a further X saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the bigeye tuna export price in Latin America and the Caribbean amounted to $X per ton, declining by -X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 when the export price increased by X% y-o-y. The level of export peaked at $X per ton in 2017; however, from 2018 to 2020, export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2020, major exporting countries recorded the following prices: in Colombia ($X per ton) and Guatemala ($X per ton), while Ecuador ($X per ton) and Nicaragua ($X per ton) were amongst the lowest.

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

Bigeye Tuna Imports

Imports in Latin America and the Caribbean

After four years of growth, purchases abroad of bigeye tuna decreased by -X% to X tons in 2020. Overall, imports, however, showed measured growth. The growth pace was the most rapid in 2013 with an increase of X% year-to-year. As a result, imports reached the peak of X tons. from 2014 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, bigeye tuna imports declined markedly to $X in 2020. In general, imports, however, enjoyed measured growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. from 2014 to 2020, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2020, Ecuador (X tons), distantly followed by Venezuela (X tons), Guatemala (X tons), Colombia (X tons), Peru (X tons), El Salvador (X tons) and Mexico (X tons) were the largest importers of bigeye tuna, together achieving X% of total imports.

From 2007 to 2020, the biggest increases were in Colombia, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bigeye tuna importing markets in Latin America and the Caribbean were Venezuela ($X), Ecuador ($X) and Guatemala ($X), with a combined X% share of total imports. These countries were followed by Colombia, El Salvador, Peru and Mexico, which together accounted for a further X (+X% per year) recorded the highest growth rate of 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

In 2020, the bigeye tuna import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2012 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. from 2013 to 2020, the growth in terms of the import prices failed to regain the momentum.

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

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

Source: IndexBox Platform

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