Middle East: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in the Middle East

The Middle Eastern preserved anchovies market reached $X in 2021, picking up by 2.3% against the previous year. The total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.6% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Preserved Anchovies Production in the Middle East

In value terms, preserved anchovies production rose modestly to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.5% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 43% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Preserved Anchovies Exports

Exports in the Middle East

In 2021, overseas shipments of anchovies (prepared or preserved) were finally on the rise to reach X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved anchovies exports surged to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Turkey (X tons), together reaching 99% of total export.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of anchovies (prepared or preserved). The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest preserved anchovies supplier in the Middle East.

In Turkey, preserved anchovies exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, declining by -4.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 16%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to +0.3% per year.

Preserved Anchovies Imports

Imports in the Middle East

In 2021, supplies from abroad of anchovies (prepared or preserved) was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a noticeable shrinkage. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved anchovies imports soared to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Israel was the largest importer of anchovies (prepared or preserved) in the Middle East, with the volume of imports amounting to X tons, which was near 54% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), Kuwait (X tons) and Bahrain (X tons), together generating a 37% share of total imports. Turkey (X tons) held a minor share of total imports.

Imports into Israel decreased at an average annual rate of -2.3% from 2012 to 2021. At the same time, Turkey (+45.9%), the United Arab Emirates (+24.8%), Bahrain (+23.1%) and Kuwait (+16.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +45.9% from 2012-2021. While the share of the United Arab Emirates (+21 p.p.), Kuwait (+6.1 p.p.), Bahrain (+4.9 p.p.) and Turkey (+3.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported anchovies (prepared or preserved) in the Middle East, comprising 59% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 25% share of total imports. It was followed by Kuwait, with a 6.6% share.

In Israel, preserved anchovies imports expanded at an average annual rate of +2.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+21.4% per year) and Kuwait (+12.4% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, falling by -7.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2013 when the import price increased by 37% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+5.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :