Cuba: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in Cuba

The Cuban market for frozen, dried and smoked fish declined dramatically to $X in 2021, waning by -19% against the previous year. Overall, consumption continues to indicate a mild setback. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Frozen, Dried And Smoked Fish in Cuba

In value terms, frozen, dried and smoked fish production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 29%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Frozen, Dried And Smoked Fish

Exports from Cuba

In 2021, overseas shipments of frozen, dried and smoked fish were finally on the rise to reach X tons after two years of decline. Overall, exports continue to indicate a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen, dried and smoked fish exports soared to $X in 2021. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons), China (X tons) and Italy (X tons) were the main destinations of frozen, dried and smoked fish exports from Cuba, together comprising 49% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +29.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Spain ($X) and France ($X) appeared to be the largest markets for frozen, dried and smoked fish exported from Cuba worldwide, with a combined 61% share of total exports. Italy, the Dominican Republic and Belgium lagged somewhat behind, together comprising a further 3.8%.

Italy, with a CAGR of +25.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for frozen, dried and smoked fish stood at $X per ton in 2021, rising by 8.3% against the previous year. In general, the export price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.2%), while the prices for the other major destinations experienced a decline.

Imports of Frozen, Dried And Smoked Fish

Imports into Cuba

In 2021, frozen, dried and smoked fish imports into Cuba shrank dramatically to X tons, falling by -68.6% against 2020 figures. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 122%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, frozen, dried and smoked fish imports declined significantly to $X in 2021. Overall, imports saw a abrupt contraction. The growth pace was the most rapid in 2019 with an increase of 37%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Spain (X tons), Chile (X tons) and China (X tons) were the main suppliers of frozen, dried and smoked fish imports to Cuba, together comprising 54% of total imports. These countries were followed by Peru, Canada, Iceland and Mexico, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of -2.9%), while purchases for the other leaders experienced a decline.

In value terms, Spain ($X) constituted the largest supplier of frozen, dried and smoked fish to Cuba, comprising 28% of total imports. The second position in the ranking was taken by Chile ($X), with a 13% share of total imports. It was followed by China, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled -10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-15.3% per year) and China (-10.9% per year).

Import Prices by Country

In 2021, the average import price for frozen, dried and smoked fish amounted to $X per ton, increasing by 170% against the previous year. Overall, the import price enjoyed a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :