Australia and Oceania: Preserved Tuna Market 2024

Preserved Tuna Market Size in Australia and Oceania

The preserved tuna market in Australia and Oceania contracted to $X in 2021, waning by -13.4% against the previous year. Overall, consumption saw a mild contraction. As a result, consumption attained the peak level of $X, and then declined in the following year.

Preserved Tuna Production in Australia and Oceania

In value terms, preserved tuna production fell to $X in 2021 estimated in export price. Overall, production posted a buoyant expansion. The growth pace was the most rapid in 2017 when the production volume increased by 116%. The level of production peaked at $X in 2020, and then fell in the following year.

Preserved Tuna Exports

Exports in Australia and Oceania

In 2021, approx. X tons of tuna (prepared or preserved) were exported in Australia and Oceania; growing by 79% against 2020 figures. Over the period under review, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved tuna exports surged to $X in 2021. In general, exports enjoyed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Papua New Guinea (X tons) represented the main exporter of tuna (prepared or preserved) in Australia and Oceania, comprising 99% of total export.

Papua New Guinea was also the fastest-growing in terms of the tuna (prepared or preserved) exports, with a CAGR of +20.1% from 2012 to 2021. While the share of Papua New Guinea (+3.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Papua New Guinea ($X) also remains the largest preserved tuna supplier in Australia and Oceania.

From 2012 to 2021, the average annual rate of growth in terms of value in Papua New Guinea totaled +18.1%.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, increasing by 5% against the previous year. Overall, the export price, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2017 when the export price increased by 16% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Papua New Guinea.

From 2012 to 2021, the rate of growth in terms of prices for Papua New Guinea amounted to -1.7% per year.

Preserved Tuna Imports

Imports in Australia and Oceania

In 2021, overseas purchases of tuna (prepared or preserved) increased by 1.4% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 9%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, preserved tuna imports dropped modestly to $X in 2021. Overall, imports, however, showed a slight decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 9.7%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Australia represented the main importer of tuna (prepared or preserved) in Australia and Oceania, with the volume of imports reaching X tons, which was approx. 57% of total imports in 2021. Papua New Guinea (X tons) ranks second in terms of the total imports with a 24% share, followed by New Zealand (8.3%). The following importers - Fiji (X tons) and Vanuatu (X tons) - together made up 5.9% of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved tuna imports into Australia stood at -3.4%. At the same time, Vanuatu (+9.0%) and Papua New Guinea (+1.5%) displayed positive paces of growth. Moreover, Vanuatu emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +9.0% from 2012-2021. By contrast, New Zealand (-2.1%) and Fiji (-8.0%) illustrated a downward trend over the same period. While the share of Papua New Guinea (+6.6 p.p.) and Vanuatu (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Fiji (-2.7 p.p.) and Australia (-7.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported tuna (prepared or preserved) in Australia and Oceania, comprising 72% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 10% share of total imports. It was followed by Papua New Guinea, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia stood at -2.5%. In the other countries, the average annual rates were as follows: New Zealand (-0.3% per year) and Papua New Guinea (+1.5% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2021, with a decrease of -2.2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 25% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Fiji (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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