Bangladesh: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Bangladesh

After two years of growth, the Bangladeshi fresh fish fillet market decreased by -17% to $X in 2021. In general, consumption, however, posted a buoyant expansion. As a result, consumption attained the peak level of $X, and then reduced rapidly in the following year.

Fresh Fish Fillet Production in Bangladesh

In value terms, fresh fish fillet production dropped sharply to $X in 2021 estimated in export price. In general, production, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 70%. As a result, production attained the peak level of $X, and then reduced sharply in the following year.

Fresh Fish Fillet Exports

Exports from Bangladesh

In 2021, overseas shipments of fresh or chilled fish fillets decreased by -25.7% to X tons, falling for the second year in a row after two years of growth. Overall, exports showed a dramatic slump. The most prominent rate of growth was recorded in 2018 with an increase of 3,064%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, fresh fish fillet exports dropped dramatically to $X in 2021. Over the period under review, exports faced a sharp contraction. The pace of growth was the most pronounced in 2018 when exports increased by 1,457%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons), Finland (X tons) and Austria (X tons) were the main destinations of fresh fish fillet exports from Bangladesh, with a combined 65% share of total exports. These countries were followed by Turkey, which accounted for a further 6.1%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +22.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Singapore ($X) and Finland ($X) constituted the largest markets for fresh fish fillet exported from Bangladesh worldwide, with a combined 68% share of total exports. Turkey lagged somewhat behind, comprising a further 5%.

In terms of the main countries of destination, Turkey, with a CAGR of +12.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fresh fish fillet export price stood at $X per ton in 2021, dropping by -7.3% against the previous year. Overall, the export price, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2015 an increase of 185%. The export price peaked at $X per ton in 2020, and then shrank in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into Bangladesh

Fresh fish fillet imports into Bangladesh declined notably to X tons in 2021, which is down by -77.8% against 2020. Over the period under review, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 390% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, fresh fish fillet imports fell notably to $X in 2021. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 343%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest fresh fish fillet supplier to Bangladesh, accounting for a 79% share of total imports. Moreover, fresh fish fillet imports from India exceeded the figures recorded by the second-largest supplier, Norway (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to -16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+146.1% per year) and Malaysia (-0.9% per year).

In value terms, Norway ($X) constituted the largest supplier of fresh or chilled fish fillets to Bangladesh, comprising 65% of total imports. The second position in the ranking was held by India ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Norway stood at +134.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-23.6% per year) and Malaysia (+10.1% per year).

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, picking up by 167% against the previous year. In general, the import price recorded prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+48.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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