Kuwait: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Kuwait

The Kuwaiti battered fish fillet market shrank modestly to $X in 2021, declining by -3.7% against the previous year. Over the period under review, consumption, however, enjoyed a resilient increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Battered Fish Fillet Production in Kuwait

In value terms, battered fish fillet production fell to $X in 2021 estimated in export price. In general, production, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 60% against the previous year. Battered fish fillet production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Battered Fish Fillet Exports

Exports from Kuwait

After two years of decline, overseas shipments of fish fillets in batter or breadcrumbs increased by 9.9% to X kg in 2021. In general, exports, however, continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 130% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, battered fish fillet exports rose to $X in 2021. Overall, exports, however, recorded a dramatic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 208% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iraq (X kg) was the main destination for battered fish fillet exports from Kuwait, with a 86% share of total exports. Moreover, battered fish fillet exports to Iraq exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iraq totaled -32.7%.

In value terms, Iraq ($X) remains the key foreign market for fish fillets in batter or breadcrumbs exports from Kuwait, comprising 91% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Iraq amounted to -33.3%.

Export Prices by Country

The average battered fish fillet export price stood at $X per ton in 2021, shrinking by -6.1% against the previous year. Over the period under review, the export price recorded a mild downturn. The most prominent rate of growth was recorded in 2017 an increase of 133%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to the United Arab Emirates amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+24.8%), while the prices for the other major destinations experienced a decline.

Battered Fish Fillet Imports

Imports into Kuwait

In 2021, the amount of fish fillets in batter or breadcrumbs imported into Kuwait rose to X tons, picking up by 3.9% against 2020. Overall, imports, however, recorded a deep setback. The pace of growth was the most pronounced in 2016 with an increase of 232% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, battered fish fillet imports fell significantly to $X in 2021. In general, imports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 with an increase of 222% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Myanmar (X tons), Chile (X tons) and Indonesia (X tons) were the main suppliers of battered fish fillet imports to Kuwait, with a combined 63% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +58.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest battered fish fillet suppliers to Kuwait were Saudi Arabia ($X), Chile ($X) and Indonesia ($X), together comprising 52% of total imports.

Chile, with a CAGR of +49.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average battered fish fillet import price stood at $X per ton in 2021, shrinking by -26.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2013 when the average import price increased by 27%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 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 Saudi Arabia ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+32.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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