Colombia: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Colombia

The Colombian market for frozen scallops, including queen scallop contracted sharply to $X in 2023, waning by X% against 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 showed a abrupt decline. Frozen scallops, including queen scallop consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Colombia

In 2020, approx. X kg of frozen scallops, including queen scallop were exported from Colombia; remaining stable against the year before. Over the period under review, exports continue to indicate a significant expansion. The smallest decline of X% was in 2016. Over the period under review, the exports reached the maximum in 2020 and are expected to retain growth in years to come.

In value terms, frozen scallops, including queen scallop exports stood at $X in 2020. Overall, exports recorded a significant expansion. The smallest decline of X% was in 2016. Over the period under review, the exports attained the maximum in 2020 and are likely to see gradual growth in years to come.

Exports by Country

Norway (X kg) was the main destination for frozen scallops, including queen scallop exports from Colombia, accounting for a X% share of total exports. Moreover, frozen scallops, including queen scallop exports to Norway exceeded the volume sent to the second major destination, Aruba (X kg), ninefold.

From 2013 to 2020, the average annual growth rate of volume to Norway was relatively modest.

From 2013 to 2020, the average annual growth rate of value to Norway was relatively modest.

Export Prices by Country

In 2020, the average export price for frozen scallops, including queen scallop amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated a prominent expansion from 2013 to 2020: its price increased at an average annual rate of X% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2020, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Aruba totaled $X per ton.

From 2013 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Colombia

In 2023, the amount of frozen scallops, including queen scallop imported into Colombia reduced markedly to X tons, declining by X% on 2022. In general, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2022 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop imports shrank markedly to $X in 2023. Over the period under review, imports saw a deep reduction. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, the United States (X tons) constituted the largest supplier of frozen scallops, including queen scallop to Colombia, with a X% share of total imports. Moreover, frozen scallops, including queen scallop imports from the United States exceeded the figures recorded by the second-largest supplier, the Philippines (X kg), sevenfold. Spain (X kg) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Spain (X% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen scallops, including queen scallop to Colombia, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Japan (X% per year).

Import Prices by Country

In 2023, the average import price for frozen scallops, including queen scallop amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2022 when the average import price increased by X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Peru (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform