Egypt: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Egypt

After four years of growth, the Egyptian preserved anchovies market decreased by -13.2% to $X in 2021. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.1% against 2016 indices. Preserved anchovies consumption peaked at $X in 2020, and then contracted in the following year.

Preserved Anchovies Production in Egypt

In value terms, preserved anchovies production declined sharply to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +64.2% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 62% against the previous year. Preserved anchovies production peaked at $X in 2020, and then fell rapidly in the following year.

Preserved Anchovies Exports

Exports from Egypt

In 2021, the amount of anchovies (prepared or preserved) exported from Egypt skyrocketed to X tons, growing by 64% compared with the previous year's figure. In general, exports posted a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 2,334% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, preserved anchovies exports surged to $X in 2021. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2014 with an increase of 3,531%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Oman (X kg) and Kuwait (X kg) were the main destinations of preserved anchovies exports from Egypt.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of 0.0%).

In value terms, Oman ($X) and Kuwait ($X) were the largest markets for preserved anchovies exported from Egypt worldwide.

Oman, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average preserved anchovies export price amounted to $X per ton, with a decrease of -9.2% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 105%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Oman totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (-3.3%).

Preserved Anchovies Imports

Imports into Egypt

After two years of decline, overseas purchases of anchovies (prepared or preserved) increased by 111% to X tons in 2021. Over the period under review, imports, however, showed a deep setback. The pace of growth appeared the most rapid in 2015 when imports increased by 374% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved anchovies imports surged to $X in 2021. Overall, imports, however, recorded a abrupt slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of preserved anchovies to Egypt, accounting for a 49% share of total imports. Moreover, preserved anchovies imports from Spain exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was held by Greece (X tons), with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.1% per year) and Greece (+3.0% per year).

In value terms, Spain ($X) constituted the largest supplier of anchovies (prepared or preserved) to Egypt, comprising 49% of total imports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total imports. It was followed by Greece, with a 1.6% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+14.7% per year) and Greece (-6.5% per year).

Import Prices by Country

The average preserved anchovies import price stood at $X per ton in 2021, picking up by 1.6% against the previous year. Over the period under review, the import price saw noticeable growth. The most prominent rate of growth was recorded in 2017 an increase of 206% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Greece ($X per ton) and Spain ($X per ton), while the price for Morocco ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+12.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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