Central Asia: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Central Asia

The Central Asian fish fat and oil market expanded markedly to $X in 2022, increasing by 7.6% against the previous year. In general, consumption enjoyed resilient growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Fish Fats And Oils in Central Asia

In value terms, fish fat and oil production expanded markedly to $X in 2022 estimated in export price. Overall, production showed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 42% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Fish Fats And Oils

Exports in Central Asia

In 2022, the amount of fish fats and oils exported in Central Asia soared to X tons, jumping by 187% on the year before. In general, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fish fat and oil exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 148% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Kazakhstan (X tons) and Kyrgyzstan (X tons) represented roughly 99.9% of total exports in 2022.

From 2012 to 2022, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +14,278.1%).

In value terms, Kazakhstan ($X) remains the largest fish fat and oil supplier in Central Asia, comprising 95% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 4.6% share of total exports.

In Kazakhstan, fish fat and oil exports increased at an average annual rate of +12.5% over the period from 2012-2022.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, declining by -39.3% against the previous year. Overall, the export price recorded a pronounced downturn. The most prominent rate of growth was recorded in 2020 when the export price increased by 44%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+1.4%).

Imports of Fish Fats And Oils

Imports in Central Asia

In 2022, overseas purchases of fish fats and oils decreased by -13.9% to X tons for the first time since 2014, thus ending a seven-year rising trend. Overall, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 129% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, fish fat and oil imports dropped notably to $X in 2022. Over the period under review, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2015 with an increase of 152%. The level of import peaked at $X in 2021, and then shrank markedly in the following year.

Imports by Country

Kazakhstan was the key importer of fish fats and oils in Central Asia, with the volume of imports recording X tons, which was near 60% of total imports in 2022. Kyrgyzstan (X tons) ranks second in terms of the total imports with a 19% share, followed by Uzbekistan (8.8%) and Mongolia (8.2%). Turkmenistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fish fat and oil imports into Kazakhstan stood at +15.5%. At the same time, Kyrgyzstan (+77.6%), Mongolia (+19.7%) and Uzbekistan (+7.7%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +77.6% from 2012-2022. Turkmenistan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Kyrgyzstan and Uzbekistan increased by +19 and +8.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported fish fats and oils in Central Asia, comprising 77% of total imports. The second position in the ranking was held by Kyrgyzstan ($X), with a 10% share of total imports. It was followed by Uzbekistan, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan stood at +17.2%. In the other countries, the average annual rates were as follows: Kyrgyzstan (+44.0% per year) and Uzbekistan (-4.2% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, with a decrease of -2.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 30% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Turkmenistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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