China: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in China

In 2021, the Chinese preserved mackerel market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Preserved Mackerel Production in China

In value terms, preserved mackerel production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 35%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Preserved Mackerel Exports

Exports from China

In 2021, after two years of growth, there was significant decline in overseas shipments of mackerel (prepared or preserved), when their volume decreased by -15.1% to X tons. In general, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +64.9% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 37%. As a result, the exports attained the peak of X tons, and then declined notably in the following year.

In value terms, preserved mackerel exports reduced to $X in 2021. Over the period under review, total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +51.2% against 2012 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 16%. Over the period under review, the exports reached the maximum at $X in 2020, and then declined in the following year.

Exports by Country

Ghana (X tons), Chile (X tons) and Japan (X tons) were the main destinations of preserved mackerel exports from China, with a combined 37% share of total exports. These countries were followed by Haiti, Sri Lanka, Indonesia, Nigeria, Malaysia, Fiji, Thailand, the Philippines, Papua New Guinea and the United States, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +88.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved mackerel exported from China were Japan ($X), Ghana ($X) and Chile ($X), together accounting for 43% of total exports. Sri Lanka, Haiti, Indonesia, the Philippines, Fiji, Malaysia, Nigeria, Thailand, Papua New Guinea and the United States lagged somewhat behind, together comprising a further 37%.

Indonesia, with a CAGR of +67.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved mackerel export price amounted to $X per ton, with an increase of 11% against the previous year. Overall, the export price, however, saw a slight decrease. The pace of growth appeared the most rapid in 2016 when the average export price increased by 18%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Haiti ($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 the Philippines (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Mackerel Imports

Imports into China

In 2021, the amount of mackerel (prepared or preserved) imported into China declined rapidly to X tons, reducing by -29.7% compared with the previous year. In general, imports saw a abrupt descent. The growth pace was the most rapid in 2018 with an increase of 91% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, preserved mackerel imports fell markedly to $X in 2021. Over the period under review, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 219%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of preserved mackerel to China, with a 56% share of total imports. Moreover, preserved mackerel imports from Russia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sixfold. The third position in this ranking was held by South Korea (X tons), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia stood at +125.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-8.2% per year) and South Korea (-8.5% per year).

In value terms, Russia ($X) constituted the largest supplier of mackerel (prepared or preserved) to China, comprising 51% of total imports. The second position in the ranking was held by Thailand ($X), with a 13% share of total imports. It was followed by Latvia, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value from Russia totaled +129.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-6.1% per year) and Latvia (+40.1% per year).

Import Prices by Country

The average preserved mackerel import price stood at $X per ton in 2021, shrinking by -20.4% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 67%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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 Thailand ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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