Morocco: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Morocco

In 2021, the Moroccan preserved anchovies market decreased by -30.9% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Preserved anchovies consumption peaked at $X in 2020, and then fell significantly in the following year.

Preserved Anchovies Production in Morocco

In value terms, preserved anchovies production stood at $X in 2021 estimated in export price. In general, the total production indicated noticeable growth 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. Based on 2021 figures, production decreased by -4.2% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 36%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Preserved Anchovies Exports

Exports from Morocco

In 2021, after two years of decline, there was significant growth in shipments abroad of anchovies (prepared or preserved), when their volume increased by 20% to X tons. The total export volume increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, preserved anchovies exports surged to $X in 2021. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 48%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons), Spain (X tons) and Italy (X tons) were the main destinations of preserved anchovies exports from Morocco, with a combined 27% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +5.6%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for preserved anchovies exported from Morocco were France ($X), Spain ($X) and the United States ($X), together comprising 23% of total exports.

Spain, with a CAGR of +6.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average preserved anchovies export price amounted to $X per ton, which is down by -2.7% against the previous year. Over the period under review, the export price, however, showed mild growth. The growth pace was the most rapid in 2017 when the average export price increased by 11% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Morocco

In 2021, imports of anchovies (prepared or preserved) into Morocco declined rapidly to X tons, dropping by -68.3% compared with 2020. In general, imports recorded a sharp slump. The most prominent rate of growth was recorded in 2015 when imports increased by 1,981%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved anchovies imports declined sharply to $X in 2021. Over the period under review, imports showed a sharp downturn. The pace of growth was the most pronounced in 2015 with an increase of 2,967% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Argentina (X tons) and the United States (X kg) were the main suppliers of preserved anchovies imports to Morocco, together accounting for 91% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +49.1%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of anchovies (prepared or preserved) to Morocco, comprising 67% of total imports. The second position in the ranking was held by Argentina ($X), with a 19% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+9.2% per year) and the United States (-42.0% per year).

Import Prices by Country

The average preserved anchovies import price stood at $X per ton in 2021, growing by 5.7% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the average import price increased by 47% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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