Latin America and the Caribbean: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Latin America and the Caribbean

The Latin American frozen cuttlefishes market reduced modestly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption continues to indicate a resilient increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Frozen Cuttlefishes Production in Latin America and the Caribbean

In value terms, frozen cuttlefishes production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

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Frozen Cuttlefishes Exports

Exports in Latin America and the Caribbean

In 2022, the amount of frozen cuttlefishes exported in Latin America and the Caribbean declined dramatically to X tons, waning by X% against 2021. Over the period under review, exports faced a dramatic decrease. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports declined markedly to $X in 2022. In general, exports continue to indicate a dramatic contraction. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru represented the key exporter of frozen cuttlefishes in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Ecuador (X tons), comprising a X% share of total exports. Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ecuador (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest frozen cuttlefishes supplying countries in Latin America and the Caribbean were Peru ($X), Ecuador ($X) and Venezuela ($X), with a combined X% share of total exports.

Venezuela, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Export price indicated a strong expansion 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, frozen cuttlefishes export price decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (X%), while the other leaders experienced mixed trends in the export price figures.

Frozen Cuttlefishes Imports

Imports in Latin America and the Caribbean

In 2022, after seven years of decline, there was significant growth in supplies from abroad of frozen cuttlefishes, when their volume increased by X% to X tons. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, frozen cuttlefishes imports soared to $X in 2022. Overall, imports, however, showed a deep reduction. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mexico (X tons), Colombia (X tons) and the Dominican Republic (X tons) was the main importer of frozen cuttlefishes in Latin America and the Caribbean, creating X% of total import. Panama (X tons) ranks next in terms of the total imports with an X% share, followed by Guatemala (X%) and Venezuela (X%). Trinidad and Tobago (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported frozen cuttlefishes in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to X%. In the other countries, the average annual rates were as follows: the Dominican Republic (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price recorded a strong increase. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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