ASEAN: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in ASEAN

The ASEAN preserved mackerel market rose significantly to $X in 2021, with an increase of 8.3% against the previous year. The total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +66.6% against 2013 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Preserved Mackerel Production in ASEAN

In value terms, preserved mackerel production expanded notably to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.0% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 29%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Preserved Mackerel Exports

Exports in ASEAN

In 2021, overseas shipments of mackerel (prepared or preserved) decreased by -21% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2014 with an increase of 7.4%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved mackerel exports fell to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 44%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X tons) and Vietnam (X tons) dominates exports structure, together achieving 83% of total exports. Singapore (X tons) ranks next in terms of the total exports with a 7.6% share, followed by the Philippines (4.6%). Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +9.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest preserved mackerel supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Singapore ($X), with a combined 92% share of total exports.

Vietnam, with a CAGR of +11.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, rising by 9.6% against the previous year. Export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved mackerel export price decreased by -7.7% against 2019 indices. The pace of growth was the most pronounced in 2019 when the export price increased by 38% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Singapore ($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 Philippines (+3.2%), while the other leaders experienced more modest paces of growth.

Preserved Mackerel Imports

Imports in ASEAN

After two years of growth, supplies from abroad of mackerel (prepared or preserved) decreased by -14.6% to X tons in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 60% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved mackerel imports shrank to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 51% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand was the main importer of mackerel (prepared or preserved) in ASEAN, with the volume of imports recording X tons, which was near 40% of total imports in 2021. Singapore (X tons) ranks second in terms of the total imports with a 17% share, followed by Indonesia (14%), Malaysia (14%) and the Philippines (5.1%). Cambodia (X tons) and Myanmar (X tons) held a relatively small share of total imports.

Imports into Thailand increased at an average annual rate of +2.9% from 2012 to 2021. At the same time, Myanmar (+39.8%), the Philippines (+22.2%) and Indonesia (+6.5%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +39.8% from 2012-2021. By contrast, Singapore (-4.9%), Malaysia (-5.8%) and Cambodia (-6.7%) illustrated a downward trend over the same period. Thailand (+9.6 p.p.), Indonesia (+6.4 p.p.), the Philippines (+4.2 p.p.) and Myanmar (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Cambodia, Singapore and Malaysia saw its share reduced by -3.2%, -9.2% and -9.7% from 2012 to 2021, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported mackerel (prepared or preserved) in ASEAN, comprising 38% of total imports. The second position in the ranking was held by Singapore ($X), with an 18% share of total imports. It was followed by Indonesia, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand stood at +4.1%. In the other countries, the average annual rates were as follows: Singapore (-6.1% per year) and Indonesia (+9.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, increasing by 4.7% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 31%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Cambodia ($X per ton), while Malaysia ($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 Philippines (+13.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform