Indonesia: Preserved Sardines Market 2024

Preserved Sardines Market Size in Indonesia

In 2022, the Indonesian preserved sardines market decreased by -3.6% to $X, falling for the second consecutive year after four years of growth. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Preserved Sardines Production in Indonesia

In value terms, preserved sardines production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 12% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Preserved Sardines Exports

Exports from Indonesia

In 2022, the amount of sardines (prepared or preserved) exported from Indonesia rose sharply to X tons, surging by 14% on the previous year. In general, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +143.9% against 2017 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 33% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, preserved sardines exports surged to $X in 2022. Overall, exports saw temperate growth. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Ghana (X tons), Togo (X tons) and Nigeria (X tons) were the main destinations of preserved sardines exports from Indonesia, with a combined 40% share of total exports. Democratic Republic of the Congo, Senegal, the Dominican Republic, Cote d'Ivoire, Albania, Timor-Leste, Iraq, Jordan, Benin and Gambia lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +43.6%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Togo ($X) and Nigeria ($X) were the largest markets for preserved sardines exported from Indonesia worldwide, with a combined 42% share of total exports. Democratic Republic of the Congo, Senegal, the Dominican Republic, Cote d'Ivoire, Albania, Jordan, Iraq, Benin, Timor-Leste and Gambia lagged somewhat behind, together comprising a further 30%.

The Dominican Republic, with a CAGR of +42.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preserved sardines export price stood at $X per ton in 2022, surging by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Nigeria ($X per ton) and Jordan ($X per ton), while the average price for exports to Timor-Leste ($X per ton) and Democratic Republic of the Congo ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Timor-Leste (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Indonesia

In 2022, after two years of growth, there was decline in overseas purchases of sardines (prepared or preserved), when their volume decreased by -2.5% to X tons. Over the period under review, imports, however, showed a notable expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 243%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, preserved sardines imports reduced remarkably to $X in 2022. Overall, imports, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2013 when imports increased by 197%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest preserved sardines supplier to Indonesia, accounting for a 68% share of total imports. Moreover, preserved sardines imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +15.7%.

In value terms, Malaysia ($X) constituted the largest supplier of sardines (prepared or preserved) to Indonesia, comprising 81% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia totaled +10.6%.

Import Prices by Country

The average preserved sardines import price stood at $X per ton in 2022, dropping by -37.1% against the previous year. Over the period under review, the import price continues to indicate a mild decline. The pace of growth was the most pronounced in 2016 an increase of 45%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a 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 Malaysia ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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