Kazakhstan: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Kazakhstan

The Kazakh fish fat and oil market rose rapidly to $X in 2022, increasing by 7.8% against the previous year. Over the period under review, consumption recorded a remarkable increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Fish Fats And Oils in Kazakhstan

In value terms, fish fat and oil production rose significantly to $X in 2022 estimated in export price. Overall, production showed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 46%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Fish Fats And Oils

Exports from Kazakhstan

In 2022, exports of fish fats and oils from Kazakhstan soared to X tons, growing by 47% against 2021. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 110% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, fish fat and oil exports surged to $X in 2022. In general, exports showed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 148% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Kyrgyzstan (X tons) was the main destination for fish fat and oil exports from Kazakhstan, accounting for a 82% share of total exports. Moreover, fish fat and oil exports to Kyrgyzstan exceeded the volume sent to the second major destination, Georgia (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kyrgyzstan amounted to +8.7%.

In value terms, Kyrgyzstan ($X) emerged as the key foreign market for fish fats and oils exports from Kazakhstan, comprising 66% of total exports. The second position in the ranking was held by Georgia ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Kyrgyzstan totaled +7.9%.

Export Prices by Country

In 2022, the average fish fat and oil export price amounted to $X per ton, picking up by 14% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil export price increased by +127.4% against 2017 indices. The growth pace was the most rapid in 2020 an increase of 44%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Kyrgyzstan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (-0.8%).

Imports of Fish Fats And Oils

Imports into Kazakhstan

In 2022, supplies from abroad of fish fats and oils decreased by -26.8% to X tons for the first time since 2014, thus ending a seven-year rising trend. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 216%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced markedly in the following year.

In value terms, fish fat and oil imports contracted markedly to $X in 2022. In general, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2015 when imports increased by 174% against the previous year. Imports peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest fish fat and oil supplier to Kazakhstan, with a 57% share of total imports. Moreover, fish fat and oil imports from Russia exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was taken by Belarus (X tons), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from Russia amounted to +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+12.5% per year) and Belarus (+57.0% per year).

In value terms, the UK ($X) constituted the largest supplier of fish fats and oils to Kazakhstan, comprising 54% of total imports. The second position in the ranking was held by Russia ($X), with a 26% share of total imports. It was followed by Belarus, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK stood at +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+52.7% per year) and Belarus (+25.5% per year).

Import Prices by Country

The average fish fat and oil import price stood at $X per ton in 2022, with an increase of 3.8% against the previous year. Over the period under review, import price indicated modest growth 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, fish fat and oil import price increased by +57.1% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 38%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+35.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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