Azerbaijan: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Azerbaijan

The Azerbaijani frozen whole fish market contracted slightly to $X in 2021, waning by -2.4% 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). Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -13.4% against 2019 indices. Frozen whole fish consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Frozen Whole Fish Exports

Exports from Azerbaijan

After two years of growth, shipments abroad of frozen whole fish decreased by -19.3% to X tons in 2021. Overall, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 123%. Over the period under review, the exports attained the maximum at X tons in 2020, and then declined remarkably in the following year.

In value terms, frozen whole fish exports shrank notably to $X in 2021. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 149% against the previous year. The exports peaked at $X in 2020, and then contracted sharply in the following year.

Exports by Country

Russia (X tons) was the main destination for frozen whole fish exports from Azerbaijan, with a 93% share of total exports. Moreover, frozen whole fish exports to Russia exceeded the volume sent to the second major destination, Turkmenistan (X tons), more than tenfold.

From 2013 to 2021, the average annual rate of growth in terms of volume to Russia stood at +22.2%.

In value terms, Russia ($X) remains the key foreign market for frozen whole fish exports from Azerbaijan, comprising 97% of total exports. The second position in the ranking was held by Turkmenistan ($X), with a 2.7% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of value to Russia amounted to +45.7%.

Export Prices by Country

The average frozen whole fish export price stood at $X per ton in 2021, picking up by 3.2% against the previous year. Overall, the export price enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 an increase of 41% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Turkmenistan totaled $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+19.3%).

Frozen Whole Fish Imports

Imports into Azerbaijan

In 2021, approx. X tons of frozen whole fish were imported into Azerbaijan; growing by 1.6% compared with the previous year. Over the period under review, imports, however, continue to indicate a slight contraction. The growth pace was the most rapid in 2016 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, frozen whole fish imports declined to $X in 2021. Overall, imports saw prominent growth. The growth pace was the most rapid in 2016 when imports increased by 148%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Russia (X tons), Iceland (X tons) and Canada (X tons) were the main suppliers of frozen whole fish imports to Azerbaijan, together comprising 69% of total imports. New Zealand, Kazakhstan, Norway, Vietnam, Poland, Chile, Greenland and Estonia lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +39.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iceland ($X), Russia ($X) and Chile ($X) appeared to be the largest frozen whole fish suppliers to Azerbaijan, with a combined 63% share of total imports. Canada, New Zealand, Norway, Kazakhstan, Poland, Vietnam, Greenland and Estonia lagged somewhat behind, together comprising a further 25%.

Poland, with a CAGR of +71.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen whole fish import price stood at $X per ton in 2021, shrinking by -8.3% against the previous year. In general, the import price, however, showed resilient growth. The pace of growth appeared the most rapid in 2016 an increase of 84% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+30.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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