Bangladesh: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Bangladesh

After six years of growth, the Bangladeshi seafood meals and pellets market decreased by -11.3% to $X in 2021. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% 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 +84.5% against 2012 indices. Seafood meals and pellets consumption peaked at $X in 2020, and then fell in the following year.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Bangladesh

In value terms, seafood meals and pellets production reduced to $X in 2021 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +14.2% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 36%. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Bangladesh

Seafood meals and pellets exports from Bangladesh fell markedly to X kg in 2021, reducing by -20.4% on the previous year. Over the period under review, exports continue to indicate a sharp shrinkage. The smallest decline of -19.7% was in 2020. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, seafood meals and pellets exports fell sharply to $X in 2021. In general, exports continue to indicate a precipitous curtailment. The smallest decline of -19.9% was in 2020. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X kg) was the main destination for seafood meals and pellets exports from Bangladesh, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -36.2%.

In value terms, China ($X) also remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Bangladesh.

From 2012 to 2021, the average annual growth rate of value to China totaled -35.6%.

Export Prices by Country

The average seafood meals and pellets export price stood at $X per ton in 2021, remaining constant against the previous year. In general, the export price recorded a mild expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 8.5% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +1.0% per year.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Bangladesh

In 2021, supplies from abroad of flours, meals and pellets of fish or of crustaceans and molluscs decreased by -12% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, showed significant growth. The pace of growth was the most pronounced in 2014 with an increase of 561% against the previous year. Imports peaked at X tons in 2020, and then dropped in the following year.

In value terms, seafood meals and pellets imports dropped to $X in 2021. Overall, imports, however, showed significant growth. The pace of growth was the most pronounced in 2014 when imports increased by 1,030% against the previous year. Imports peaked at $X in 2020, and then fell in the following year.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of seafood meals and pellets to Bangladesh, accounting for a 36% share of total imports. Moreover, seafood meals and pellets imports from India exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold. Maldives (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +67.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+43.2% per year) and Maldives (+68.5% per year).

In value terms, India ($X), Thailand ($X) and Maldives ($X) appeared to be the largest seafood meals and pellets suppliers to Bangladesh, together accounting for 54% of total imports. These countries were followed by Brazil, Oman, Malaysia, Seychelles, Vietnam, Morocco, Ecuador, El Salvador and Panama, which together accounted for a further 21%.

Seychelles, with a CAGR of +695.8%, recorded 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

In 2021, the average seafood meals and pellets import price amounted to $X per ton, increasing by 4.8% against the previous year. Overall, the import price showed a strong increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 71% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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