Uruguay: Molluscs Market 2024

Molluscs Market Size in Uruguay

In 2023, the Uruguayan molluscs market decreased by X% to $X, falling for the fourth year in a row after three years of growth. Over the period under review, consumption recorded a noticeable downturn. Molluscs consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Molluscs Production in Uruguay

In value terms, molluscs production fell modestly to $X in 2023 estimated in export price. Overall, production continues to indicate prominent growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2023, production growth remained at a lower figure.

Molluscs Exports

Exports from Uruguay

In 2023, shipments abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) increased by X% to X tons, rising for the sixth year in a row after three years of decline. In general, exports posted a significant expansion. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the immediate term.

In value terms, molluscs exports skyrocketed to $X in 2023. Over the period under review, exports posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The exports peaked in 2023 and are likely to see steady growth in the near future.

Exports by Country

China (X tons) was the main destination for molluscs exports from Uruguay, with a X% share of total exports. Moreover, molluscs exports to China exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold. The third position in this ranking was held by Vietnam (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Vietnam (X% per year).

In value terms, China ($X) remains the key foreign market for molluscs (scallops, mussels, cuttle fish, squid and octopus) exports from Uruguay, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average molluscs export price stood at $X per ton in 2023, rising by X% against the previous year. Overall, the export price saw a moderate expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2023, amid the top suppliers, the countries with the highest prices were Vietnam ($X per ton) and Thailand ($X per ton), while the average price for exports to Spain ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into Uruguay

In 2023, purchases abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) increased by X% to X tons, rising for the second year in a row after four years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports failed to regain momentum.

In value terms, molluscs imports shrank modestly to $X in 2023. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of molluscs to Uruguay, with a X% share of total imports. Moreover, molluscs imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. The third position in this ranking was held by Peru (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Peru (X% per year).

In value terms, China ($X), Spain ($X) and Portugal ($X) appeared to be the largest molluscs suppliers to Uruguay, with a combined X% share of total imports.

Portugal, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average molluscs import price amounted to $X per ton, dropping by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform