India: Preserved Tuna Market 2024

Preserved Tuna Market Size in India

After three years of growth, the Indian preserved tuna market decreased by -1.6% to $X in 2021. The market value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020, and then fell modestly in the following year.

Preserved Tuna Production in India

In value terms, preserved tuna production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 46%. Over the period under review, production reached the peak level at $X in 2020, and then reduced slightly in the following year.

Preserved Tuna Exports

Exports from India

In 2021, after two years of decline, there was significant growth in shipments abroad of tuna (prepared or preserved), when their volume increased by 116% to X tons. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 317,900% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, preserved tuna exports surged to $X in 2021. In general, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 297,163%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Tunisia (X tons), Somalia (X tons) and Hong Kong SAR (X tons) were the main destinations of preserved tuna exports from India, with a combined 61% share of total exports. These countries were followed by Spain, Saudi Arabia, Egypt, Malaysia, Oman, Angola, Benin, Libya and the United Arab Emirates, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +64.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved tuna exported from India were Somalia ($X), Tunisia ($X) and Hong Kong SAR ($X), with a combined 54% share of total exports. Saudi Arabia, Egypt, Malaysia, Spain, Oman, Angola, Libya, the United Arab Emirates and Benin lagged somewhat behind, together comprising a further 30%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +69.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, dropping by -2.8% against the previous year. In general, the export price saw a perceptible contraction. The most prominent rate of growth was recorded in 2016 an increase of 35%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Spain ($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 Libya (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into India

After two years of growth, purchases abroad of tuna (prepared or preserved) decreased by -66.3% to X tons in 2021. Overall, imports saw a deep setback. The pace of growth was the most pronounced in 2017 when imports increased by 99% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved tuna imports declined remarkably to $X in 2021. In general, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2019 with an increase of 119% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then declined markedly in the following year.

Imports by Country

Thailand (X tons), China (X tons) and the Philippines (X tons) were the main suppliers of preserved tuna imports to India, with a combined 49% share of total imports. These countries were followed by the United Arab Emirates, Myanmar, South Korea and Singapore, which together accounted for a further 5.7%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +35.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved tuna suppliers to India were Thailand ($X), China ($X) and the Philippines ($X), together comprising 48% of total imports. The United Arab Emirates, South Korea, Myanmar and Singapore lagged somewhat behind, together accounting for a further 4.2%.

South Korea, with a CAGR of +35.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, waning by -1.7% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 126%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat 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 Singapore ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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