Latin America and the Caribbean: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Latin America and the Caribbean

In 2023, the Latin American fish meals and pellet market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a pronounced contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish in Latin America and the Caribbean

In value terms, fish meals and pellet production contracted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, production attained the peak level of $X, and then declined in the following year.

Exports of Flours, Meals And Pellets Of Fish

Exports in Latin America and the Caribbean

Fish meals and pellet exports dropped to X tons in 2023, shrinking by X% compared with the previous year's figure. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2022, and then shrank in the following year.

In value terms, fish meals and pellet exports declined rapidly to $X in 2023. In general, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank notably in the following year.

Exports by Country

Peru represented the key exporter of flours, meals and pellets of fish in Latin America and the Caribbean, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. It was distantly followed by Argentina (X tons), constituting a X% share of total exports. Colombia (X tons) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to fish meals and pellet exports from Peru stood at X%. At the same time, Argentina (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. While the share of Argentina (X p.p.) and Peru (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest fish meals and pellet supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports.

In Peru, fish meals and pellet exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Argentina (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, declining by X% against the previous year. Export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, fish meals and pellet export price increased by X% against 2018 indices. The growth pace was the most rapid in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then contracted in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Flours, Meals And Pellets Of Fish

Imports in Latin America and the Caribbean

In 2023, fish meals and pellet imports in Latin America and the Caribbean dropped to X tons, with a decrease of X% compared with the previous year. Overall, imports recorded a pronounced setback. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, fish meals and pellet imports fell to $X in 2023. Total imports indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Peru (X tons), distantly followed by Cuba (X tons), Honduras (X tons), Chile (X tons), Cayman Islands (X tons), Venezuela (X tons), Jamaica (X tons) and Costa Rica (X tons) represented the major importers of flours, meals and pellets of fish, together achieving X% of total imports. The following importers - Colombia (X tons), Aruba (X tons), Trinidad and Tobago (X tons), the Dominican Republic (X tons) and Bahamas (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Peru (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fish meals and pellet importing markets in Latin America and the Caribbean were Chile ($X), Cuba ($X) and Peru ($X), with a combined X% share of total imports. Jamaica, Costa Rica, Cayman Islands, Honduras, Venezuela, Bahamas, Colombia, Trinidad and Tobago, Aruba and the Dominican Republic lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Cayman Islands, with a CAGR of X%, saw 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 2023, the import price in Latin America and the Caribbean amounted to $X per ton, remaining relatively unchanged against the previous year. Import price indicated resilient growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, fish meals and pellet import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2023, the import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform