Bangladesh: Frozen Chicken Cut Market 2024

Frozen Chicken Cut Market Size in Bangladesh

The Bangladeshi frozen chicken cut market reduced to $X in 2022, waning by -5.8% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Frozen Chicken Cut Production in Bangladesh

In value terms, frozen chicken cut production declined to $X in 2022 estimated in export price. Overall, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 71%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Frozen Chicken Cut Exports

Exports from Bangladesh

In 2022, shipments abroad of frozen cuts of chicken was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 187% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, frozen chicken cut exports totaled $X in 2022. In general, exports, however, continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 181%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for frozen chicken cut exports from Bangladesh, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives totaled +19.4%.

In value terms, Maldives ($X) also remains the key foreign market for frozen cuts of chicken exports from Bangladesh.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled +9.4%.

Export Prices by Country

In 2022, the average frozen chicken cut export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price, however, saw a slight descent. The growth pace was the most rapid in 2013 an increase of 38% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Maldives amounted to -8.4% per year.

Frozen Chicken Cut Imports

Imports into Bangladesh

In 2022, the amount of frozen cuts of chicken imported into Bangladesh dropped notably to X tons, which is down by -40.2% compared with 2021 figures. Over the period under review, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 1,097%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, frozen chicken cut imports contracted significantly to $X in 2022. Overall, imports saw a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 1,268%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) constituted the largest frozen chicken cut supplier to Bangladesh, with a 50% share of total imports. Moreover, frozen chicken cut imports from Brazil exceeded the figures recorded by the second-largest supplier, Singapore (X kg), fivefold. The third position in this ranking was taken by the United Arab Emirates (X kg), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+28.1% per year) and the United Arab Emirates (+4.5% per year).

In value terms, Brazil ($X) constituted the largest supplier of frozen cuts of chicken to Bangladesh, comprising 50% of total imports. The second position in the ranking was taken by Singapore ($X), with an 8.1% share of total imports. It was followed by the United Arab Emirates, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+23.0% per year) and the United Arab Emirates (-2.7% per year).

Import Prices by Country

The average frozen chicken cut import price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 100%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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