Bangladesh: Molluscs Market 2024

Molluscs Market Size in Bangladesh

In 2021, the Bangladeshi molluscs market increased by 8.5% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Molluscs Production in Bangladesh

In value terms, molluscs production totaled $X in 2021 estimated in export price. Overall, the total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -40.3% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 19%. Molluscs production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Molluscs Exports

Exports from Bangladesh

In 2021, overseas shipments of molluscs (scallops, mussels, cuttle fish, squid and octopus) decreased by -4.6% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, saw a temperate increase. The growth pace was the most rapid in 2019 when exports increased by 135% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, molluscs exports rose sharply to $X in 2021. In general, exports, however, saw a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 102% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for molluscs exports from Bangladesh, accounting for a 85% share of total exports. Moreover, molluscs exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The third position in this ranking was taken by Japan (X tons), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-35.1% per year) and Japan (+162.3% per year).

In value terms, China ($X) remains the key foreign market for molluscs (scallops, mussels, cuttle fish, squid and octopus) exports from Bangladesh, comprising 81% of total exports. The second position in the ranking was held by Vietnam ($X), with a 5.7% share of total exports. It was followed by Japan, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-36.8% per year) and Japan (+168.3% per year).

Export Prices by Country

In 2021, the average molluscs export price amounted to $X per ton, rising by 16% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the average export price increased by 36%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Thailand ($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 China (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into Bangladesh

In 2021, approx. X tons of molluscs (scallops, mussels, cuttle fish, squid and octopus) were imported into Bangladesh; increasing by 5,583% against 2020 figures. In general, imports continue to indicate a significant expansion. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, molluscs imports soared to $X in 2021. Overall, imports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 2,820%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Pakistan (X tons) constituted the largest supplier of molluscs to Bangladesh, accounting for a 86% share of total imports. Moreover, molluscs imports from Pakistan exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Pakistan stood at +11,625.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and Oman (+54.1% per year).

In value terms, the largest molluscs suppliers to Bangladesh were Pakistan ($X), China ($X) and Oman ($X), with a combined 78% share of total imports.

In terms of the main suppliers, Pakistan, with a CAGR of +117.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average molluscs import price stood at $X per ton in 2021, falling by -95.4% against the previous year. In general, the import price saw a sharp descent. The pace of growth appeared the most rapid in 2018 an increase of 497% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

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 Oman ($X per ton), while the price for Pakistan ($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 (-17.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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