Latin America and the Caribbean: Frozen Skipjack Tuna Market 2022

Frozen Skipjack Tuna Market Size in Latin America and the Caribbean

In 2020, the Latin American frozen skipjack tuna market decreased by -X% to $X, falling for the second year in a row after two years of growth. Overall, consumption continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2017 when the market value increased by X% year-to-year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2020, consumption remained at a lower figure.

Frozen Skipjack Tuna Production in Latin America and the Caribbean

In value terms, frozen skipjack tuna production rose sharply to $X in 2020 estimated in export prices. Overall, production, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. As a result, production reached the peak level of $X. from 2013 to 2020, production growth failed to regain the momentum.

Production By Country in Latin America and the Caribbean

Panama (X tons) remains the largest frozen skipjack tuna producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, frozen skipjack tuna production in Panama exceeded the figures recorded by the second-largest producer, Brazil (X tons), twofold. Nicaragua (X tons) ranked third in terms of total production with a X% share.

In Panama, frozen skipjack tuna production expanded at an average annual rate of +X% over the period from 2007-2020. The remaining producing countries recorded the following average annual rates of production growth: Brazil (+X% per year) and Nicaragua (+X% per year).

Frozen Skipjack Tuna Exports

Exports in Latin America and the Caribbean

In 2020, shipments abroad of frozen skipjack tuna increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. As a result, exports attained the peak of X tons. from 2011 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, frozen skipjack tuna exports shrank modestly to $X in 2020. In general, exports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. The level of export peaked at $X in 2012; however, from 2013 to 2020, exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Panama (X tons), Nicaragua (X tons) and Guatemala (X tons), together resulting at X% of total export. Brazil (X tons) took the next position in the ranking, followed by Colombia (X tons), Venezuela (X tons) and Ecuador (X tons). All these countries together took approx. X% share of total exports.

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

In value terms, the largest frozen skipjack tuna supplying countries in Latin America and the Caribbean were Nicaragua ($X), Panama ($X) and Guatemala ($X), together accounting for X% of total exports.

Nicaragua recorded the highest rates of growth with regard to 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 frozen skipjack tuna export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of -X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 an increase of X% year-to-year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2020, export prices stood at a somewhat lower figure.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Ecuador, while the other leaders experienced mixed trends in the export price figures.

Frozen Skipjack Tuna Imports

Imports in Latin America and the Caribbean

In 2020, after three years of growth, there was significant decline in purchases abroad of frozen skipjack tuna, when their volume decreased by -X% to X tons. In general, imports saw a mild curtailment. The growth pace was the most rapid in 2008 when imports increased by X% year-to-year. The volume of import peaked at X tons in 2010; however, from 2011 to 2020, imports stood at a somewhat lower figure.

In value terms, frozen skipjack tuna imports reduced dramatically to $X in 2020. Over the period under review, imports saw a slight shrinkage. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. The level of import peaked at $X in 2010; however, from 2011 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Ecuador (X tons) was the major importer of frozen skipjack tuna, mixing up X% of total imports. Peru (X tons) took an X% share (based on tons) of total imports, which put it in second place, followed by Mexico (X%), Colombia (X%) and El Salvador (X%). Guatemala (X tons) followed a long way behind the leaders.

From 2007 to 2020, average annual rates of growth with regard to frozen skipjack tuna imports into Ecuador stood at +X%. At the same time, Colombia (+X%), Peru (+X%), El Salvador (+X%) and Guatemala (+X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. By contrast, Mexico (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Peru, Colombia, Ecuador, El Salvador and Guatemala increased by +X%, +X%, +X%, +X% and +X% percentage points, while Mexico (-X p.p.) saw their share reduced.

In value terms, Ecuador ($X) constitutes the largest market for imported frozen skipjack tuna in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was occupied by Colombia ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

In Ecuador, frozen skipjack tuna imports remained relatively stable over the period from 2007-2020. In the other countries, the average annual rates were as follows: Colombia (+X% per year) and Peru (+X% per year).

Import Prices by Country

In 2020, the frozen skipjack tuna import price in Latin America and the Caribbean amounted to $X per ton, waning by -X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of X% y-o-y. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2020, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Guatemala ($X per ton) and El Salvador ($X per ton), while Mexico ($X per ton) and Peru ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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