India: Preserved Sardines Market 2024

Preserved Sardines Market Size in India

The Indian preserved sardines market totaled $X in 2022, remaining constant against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.4% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Preserved Sardines Production in India

In value terms, preserved sardines production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 -0.9% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 33% against the previous year. Preserved sardines production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Preserved Sardines Exports

Exports from India

In 2022, overseas shipments of sardines (prepared or preserved) increased by 13% to X tons, rising for the third year in a row after three years of decline. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,291%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, preserved sardines exports dropped slightly to $X in 2022. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 716%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for preserved sardines exports from India, with a 45% share of total exports. Moreover, preserved sardines exports to the United Arab Emirates exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), threefold. The third position in this ranking was held by Burkina Faso (X tons), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +183.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+57.9% per year) and Burkina Faso (+73.6% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for sardines (prepared or preserved) exports from India, comprising 38% of total exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a 19% share of total exports. It was followed by Burkina Faso, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +166.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+60.7% per year) and Burkina Faso (+87.3% per year).

Export Prices by Country

In 2022, the average preserved sardines export price amounted to $X per ton, with a decrease of -12.4% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved sardines export price decreased by -18.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 46% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Gambia ($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 Senegal (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into India

In 2022, supplies from abroad of sardines (prepared or preserved) decreased by -71.8% to X tons, falling for the second year in a row after five years of growth. Over the period under review, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2014 when imports increased by 719% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, preserved sardines imports fell dramatically to $X in 2022. In general, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 552%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of preserved sardines to India, accounting for a 80% share of total imports. Moreover, preserved sardines imports from Indonesia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at +91.3%.

In value terms, the largest preserved sardines suppliers to India were Indonesia ($X) and Thailand ($X).

Thailand, with a CAGR of +56.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average preserved sardines import price amounted to $X per ton, increasing by 68% against the previous year. Over the period under review, the import price enjoyed modest growth. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Thailand ($X per ton), while the price for Indonesia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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