Latin America and the Caribbean: Preserved Tuna Market 2024

Preserved Tuna Market Size in Latin America and the Caribbean

In 2022, the Latin American preserved tuna market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Preserved Tuna Production in Latin America and the Caribbean

In value terms, preserved tuna production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Preserved Tuna Exports

Exports in Latin America and the Caribbean

In 2022, the amount of tuna (prepared or preserved) exported in Latin America and the Caribbean rose remarkably to X tons, with an increase of X% on 2021 figures. Total exports indicated a prominent expansion from 2012 to 2022: its volume 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, exports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, preserved tuna exports surged to $X in 2022. Total exports indicated resilient 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, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Ecuador dominates exports structure, resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by El Salvador (X tons) and Mexico (X tons), together making up an X% share of total exports. The following exporters - Guatemala (X tons), Peru (X tons) and Costa Rica (X tons) - together made up X% of total exports.

Exports from Ecuador increased at an average annual rate of X% from 2012 to 2022. At the same time, Peru (X%), Mexico (X%), Guatemala (X%) and Costa Rica (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. El Salvador experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico and Peru increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest preserved tuna supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

In Ecuador, preserved tuna exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: El Salvador (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Costa Rica ($X per ton) and Guatemala ($X per ton), while Mexico ($X per ton) and Peru ($X per ton) were amongst the lowest.

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

Preserved Tuna Imports

Imports in Latin America and the Caribbean

In 2022, imports of tuna (prepared or preserved) in Latin America and the Caribbean fell to X tons, which is down by X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, preserved tuna imports reached $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Colombia (X tons) and Chile (X tons) represented the key importers of tuna (prepared or preserved) in Latin America and the Caribbean, together mixing up X% of total imports. Argentina (X tons) took the next position in the ranking, followed by Peru (X tons). All these countries together took approx. X% share of total imports. Mexico (X tons), Panama (X tons), the Dominican Republic (X tons), Costa Rica (X tons), Barbados (X tons), Guatemala (X tons) and Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Panama (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved tuna importing markets in Latin America and the Caribbean were Colombia ($X), Chile ($X) and Argentina ($X), together accounting for X% of total imports. Peru, Mexico, Panama, Costa Rica, the Dominican Republic, Guatemala, Uruguay and Barbados lagged somewhat behind, together accounting for a further X%.

Panama, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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, increasing by X% against the previous year. In general, the import price, however, recorded a mild contraction. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Costa Rica ($X per ton), while Barbados ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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