Puerto Rico: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Puerto Rico

The Puerto Rican market for frozen scallops, including queen scallop amounted to less than $X in 2021, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a relatively flat trend pattern.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Puerto Rico

In 2021, the amount of frozen scallops, including queen scallop exported from Puerto Rico totaled less than X kg, flattening at the previous year's figure. Overall, exports showed a relatively flat trend pattern.

In value terms, frozen scallops, including queen scallop exports amounted to less than $X in 2021. In general, exports saw a relatively flat trend pattern.

Exports by Country

In 2021, China (X tons) was the key exporter of frozen scallops, including queen scallop, mixing up 33% of total exports. It was distantly followed by Peru (X tons), Argentina (X tons), France (X tons), the United States (X tons), Russia (X tons), Canada (X tons) and the UK (X tons), together committing a 52% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to frozen scallops, including queen scallop exports from China stood at +5.8%. At the same time, Russia (+37.3%), France (+12.4%), Peru (+7.5%) and Argentina (+5.9%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in the world, with a CAGR of +37.3% from 2012-2021. Canada experienced a relatively flat trend pattern. By contrast, the UK (-8.1%) and the United States (-8.8%) illustrated a downward trend over the same period. China (+11 p.p.), Peru (+5.7 p.p.), Russia (+4.5 p.p.), Argentina (+4.2 p.p.) and France (+3.8 p.p.) significantly strengthened its position in terms of the global exports, while the UK and the United States saw its share reduced by -5.6% and -8.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen scallops, including queen scallop supplier from Puerto Rico, comprising 32% of global exports. The second position in the ranking was held by Peru ($X), with a 12% share of global exports. It was followed by Argentina, with a 10% share.

In China, frozen scallops, including queen scallop exports increased at an average annual rate of +4.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Peru (+5.3% per year) and Argentina (+3.9% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, remaining constant against the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.5%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Puerto Rico

In 2021, the amount of frozen scallops, including queen scallop imported into Puerto Rico was estimated at less than X kg, almost unchanged from the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, frozen scallops, including queen scallop imports amounted to less than $X in 2021. In general, imports continue to indicate a relatively flat trend pattern.

Imports by Country

China was the largest importer of frozen scallops, including queen scallop in the world, with the volume of imports resulting at X tons, which was approx. 55% of total imports in 2021. The United States (X tons) ranks second in terms of the total imports with a 12% share, followed by France (6.9%). Hong Kong SAR (X tons), Canada (X tons), Vietnam (X tons), Denmark (X tons), Taiwan (Chinese) (X tons), Spain (X tons), Italy (X tons), Australia (X tons) and Belgium (X tons) held a little share of total imports.

China was also the fastest-growing in terms of the frozen scallops, including queen scallop imports, with a CAGR of +23.7% from 2012 to 2021. At the same time, the United States (+5.0%), Taiwan (Chinese) (+2.4%), Denmark (+1.5%) and Canada (+1.3%) displayed positive paces of growth. Vietnam experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-1.0%), Spain (-1.2%), Italy (-2.2%), France (-2.9%), Australia (-7.3%) and Belgium (-10.6%) illustrated a downward trend over the same period. China (+40 p.p.) significantly strengthened its position in terms of the global imports, while Canada, Spain, Vietnam, Italy, the United States, Belgium, Australia, Hong Kong SAR and France saw its share reduced by -1.7%, -1.8%, -1.8%, -2.1%, -2.4%, -3%, -3.2%, -4.3% and -9.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen scallops, including queen scallop importing markets into Puerto Rico were the United States ($X), China ($X) and Hong Kong SAR ($X), with a combined 51% share of total imports.

In terms of the main importing countries, China, with a CAGR of +18.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, approximately mirroring the previous year. In general, the import price saw a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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