Eastern Asia: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in Eastern Asia

The East Asian market for cod, salted or in brine declined modestly to $X in 2022, shrinking by -3.4% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Cod, Salted or in Brine in Eastern Asia

In value terms, cod, salted or in brine production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 35%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Cod, Salted or in Brine

Exports in Eastern Asia

In 2022, after two years of decline, there was significant growth in overseas shipments of cod, salted or in brine, when their volume increased by 10% to X tons. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 58%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cod, salted or in brine exports soared to $X in 2022. Over the period under review, exports saw resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 76% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) represented the main exporter of cod, salted or in brine in Eastern Asia, committing 99% of total export.

China was also the fastest-growing in terms of the cod, salted or in brine exports, with a CAGR of +8.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest cod, salted or in brine supplier in Eastern Asia.

In China, cod, salted or in brine exports expanded at an average annual rate of +8.0% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, jumping by 26% against the previous year. Overall, the export price, however, saw a slight contraction. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -0.9% per year.

Imports of Cod, Salted or in Brine

Imports in Eastern Asia

In 2022, supplies from abroad of cod, salted or in brine decreased by -35.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 1,343%. As a result, imports reached the peak of X tons, and then dropped notably in the following year.

In value terms, cod, salted or in brine imports declined remarkably to $X in 2022. Over the period under review, imports, however, enjoyed a mild expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 269%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China prevails in imports structure, reaching X tons, which was near 90% of total imports in 2022. It was distantly followed by Japan (X tons), making up a 6.2% share of total imports. The following importers - Macao SAR (X tons) and Hong Kong SAR (X tons) - each finished at a 3.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cod, salted or in brine imports into China stood at +8.3%. At the same time, Japan (+64.9%) and Macao SAR (+11.9%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +64.9% from 2012-2022. By contrast, Hong Kong SAR (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Japan increased by +19 and +6.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cod, salted or in brine in Eastern Asia, comprising 68% of total imports. The second position in the ranking was taken by Macao SAR ($X), with a 12% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +3.2%. The remaining importing countries recorded the following average annual rates of imports growth: Macao SAR (+20.0% per year) and Japan (+32.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by 12% against the previous year. Overall, the import price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when the import price increased by 83% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Macao SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+7.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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