Kenya: Preserved Salmon Market 2024

Preserved Salmon Market Size in Kenya

In 2021, the Kenyan preserved salmon market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Preserved Salmon Production in Kenya

In value terms, preserved salmon production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Preserved Salmon Exports

Exports from Kenya

For the third consecutive year, Kenya recorded decline in shipments abroad of salmon (prepared or preserved), which decreased by -10.4% to X kg in 2021. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 353% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, preserved salmon exports fell to $X in 2021. Over the period under review, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 387% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Rwanda (X kg) was the main destination for preserved salmon exports from Kenya, accounting for a 83% share of total exports. Moreover, preserved salmon exports to Rwanda exceeded the volume sent to the second major destination, Somalia (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Rwanda totaled +4.5%.

In value terms, Rwanda ($X) remains the key foreign market for salmon (prepared or preserved) exports from Kenya, comprising 93% of total exports. The second position in the ranking was held by Somalia ($X), with a 7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Rwanda amounted to +16.6%.

Export Prices by Country

In 2021, the average preserved salmon export price amounted to $X per ton, with an increase of 1.8% against the previous year. Overall, the export price posted a buoyant expansion. The pace of growth appeared the most rapid in 2016 an increase of 54%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Somalia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+11.6%).

Preserved Salmon Imports

Imports into Kenya

Preserved salmon imports into Kenya contracted remarkably to X kg in 2021, which is down by -84.1% on 2020. Over the period under review, imports showed a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 361%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, preserved salmon imports shrank markedly to $X in 2021. Overall, imports saw a pronounced contraction. The pace of growth was the most pronounced in 2015 when imports increased by 540%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X kg), Thailand (X kg) and the UK (X kg) were the main suppliers of preserved salmon imports to Kenya, together accounting for 91% of total imports. These countries were followed by Italy, China and Norway, which together accounted for a further 8.4%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +48.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of salmon (prepared or preserved) to Kenya, comprising 61% of total imports. The second position in the ranking was held by Thailand ($X), with a 26% share of total imports. It was followed by the UK, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +33.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-11.4% per year) and the UK (-10.6% per year).

Import Prices by Country

The average preserved salmon import price stood at $X per ton in 2021, increasing by 26% against the previous year. In general, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved salmon import price increased by +35.8% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 45%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a 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 the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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