MENA: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in MENA

The MENA's market for cod, salted or in brine dropped modestly to $X in 2022, falling by -2.9% against the previous year. Overall, consumption showed a mild decline. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Cod, Salted or in Brine in MENA

In value terms, cod, salted or in brine production shrank to $X in 2022 estimated in export price. Overall, production showed a slight reduction. The pace of growth was the most pronounced in 2016 with an increase of 16% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Cod, Salted or in Brine

Exports in MENA

After two years of growth, overseas shipments of cod, salted or in brine decreased by -89.5% to X kg in 2022. Over the period under review, exports showed a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 1,398% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, cod, salted or in brine exports fell rapidly to $X in 2022. In general, exports saw a perceptible decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 5,009% against the previous year. As a result, the exports reached the peak of $X, and then reduced markedly in the following year.

Exports by Country

The United Arab Emirates (X kg) represented roughly 100% of total exports in 2022.

The United Arab Emirates was also the fastest-growing in terms of the cod, salted or in brine exports, with a CAGR of +4.8% from 2012 to 2022. While the share of the United Arab Emirates (+46 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest cod, salted or in brine supplier in MENA.

In the United Arab Emirates, cod, salted or in brine exports increased at an average annual rate of +2.3% over the period from 2012-2022.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, which is down by -73.6% against the previous year. Over the period under review, the export price showed a perceptible curtailment. The pace of growth was the most pronounced in 2021 an increase of 241% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank markedly in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -2.4% per year.

Imports of Cod, Salted or in Brine

Imports in MENA

Cod, salted or in brine imports skyrocketed to X tons in 2022, picking up by 103% against the previous year's figure. Overall, imports showed a notable expansion. The growth pace was the most rapid in 2020 with an increase of 125% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, cod, salted or in brine imports fell significantly to $X in 2022. Over the period under review, imports, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2020 with an increase of 80% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Tunisia represented the major importer of cod, salted or in brine in MENA, with the volume of imports finishing at X tons, which was near 59% of total imports in 2022. Qatar (X tons) ranks second in terms of the total imports with a 21% share, followed by Algeria (16%). The United Arab Emirates (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cod, salted or in brine imports into Tunisia stood at -1.5%. At the same time, Qatar (+366.0%), Algeria (+24.8%) and the United Arab Emirates (+2.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in MENA, with a CAGR of +366.0% from 2012-2022. Qatar (+21 p.p.) and Algeria (+14 p.p.) significantly strengthened its position in terms of the total imports, while Tunisia saw its share reduced by -32% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Algeria ($X) constitutes the largest market for imported cod, salted or in brine in MENA, comprising 52% of total imports. The second position in the ranking was taken by Tunisia ($X), with a 22% share of total imports. It was followed by Qatar, with a 19% share.

In Algeria, cod, salted or in brine imports expanded at an average annual rate of +25.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Tunisia (-15.3% per year) and Qatar (+230.7% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, reducing by -60.2% against the previous year. Over the period under review, the import price saw a abrupt setback. The pace of growth appeared the most rapid in 2016 when the import price increased by 96%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Algeria ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform