Cote d'Ivoire: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Cote d'Ivoire

The Cote d'Ivoire's frozen fish fillet market shrank rapidly to $X in 2022, reducing by -54.2% against the previous year. Over the period under review, consumption, however, saw resilient growth. As a result, consumption attained the peak level of $X, and then contracted notably in the following year.

Frozen Fish Fillet Production in Cote d'Ivoire

In value terms, frozen fish fillet production dropped slightly to $X in 2022 estimated in export price. Overall, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.3% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 40% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Frozen Fish Fillet Exports

Exports from Cote d'Ivoire

In 2022, overseas shipments of frozen fish fillet were finally on the rise to reach X tons after two years of decline. Overall, exports recorded a prominent increase. The growth pace was the most rapid in 2019 with an increase of 635%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, frozen fish fillet exports skyrocketed to $X in 2022. In general, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 356%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for frozen fish fillet exports from Cote d'Ivoire, with a 86% share of total exports. Moreover, frozen fish fillet exports to France exceeded the volume sent to the second major destination, South Korea (X tons), tenfold. Canada (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+12.4% per year) and Canada (0.0% per year).

In value terms, France ($X) remains the key foreign market for frozen fish fillet exports from Cote d'Ivoire, comprising 77% of total exports. The second position in the ranking was held by South Korea ($X), with a 17% share of total exports. It was followed by Canada, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+5.7% per year) and Canada (0.0% per year).

Export Prices by Country

The average frozen fish fillet export price stood at $X per ton in 2022, surging by 9% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish fillet export price increased by +11.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 50% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+0.3%).

Frozen Fish Fillet Imports

Imports into Cote d'Ivoire

In 2022, the amount of frozen fish fillet imported into Cote d'Ivoire contracted markedly to X tons, with a decrease of -65.6% compared with the previous year. Over the period under review, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 645% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, frozen fish fillet imports dropped significantly to $X in 2022. In general, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2021 with an increase of 571%. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest frozen fish fillet supplier to Cote d'Ivoire, accounting for a 77% share of total imports. Moreover, frozen fish fillet imports from Malaysia exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+0.3% per year) and France (+35.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of frozen fish fillet to Cote d'Ivoire, comprising 53% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+26.9% per year) and Vietnam (+7.5% per year).

Import Prices by Country

The average frozen fish fillet import price stood at $X per ton in 2022, rising by 24% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 104% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 France ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+82.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform