Myanmar: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Myanmar

In 2021, after three years of growth, there was decline in the Myanmar's preserved anchovies market, when its value decreased by -1% to $X. Overall, consumption recorded a perceptible decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Preserved Anchovies Production in Myanmar

In value terms, preserved anchovies production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production showed a slight reduction. The growth pace was the most rapid in 2018 when the production volume increased by 28% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Preserved Anchovies Exports

Exports from Myanmar

After five years of growth, overseas shipments of anchovies (prepared or preserved) decreased by -26.2% to X tons in 2021. In general, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 64%. As a result, the exports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, preserved anchovies exports dropped remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 108% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then fell markedly in the following year.

Exports by Country

Kuwait (X tons), Australia (X tons) and Singapore (X kg) were the main destinations of preserved anchovies exports from Myanmar, with a combined 98% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +31.1%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the key foreign market for anchovies (prepared or preserved) exports from Myanmar, comprising 67% of total exports. The second position in the ranking was held by Kuwait ($X), with a 22% share of total exports. It was followed by the United States, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia stood at +37.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+25.7% per year) and the United States (0.0% per year).

Export Prices by Country

The average preserved anchovies export price stood at $X per ton in 2021, reducing by -36.4% against the previous year. Overall, the export price, however, saw a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of 140%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then fell sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Kuwait ($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 Singapore (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Myanmar

In 2021, imports of anchovies (prepared or preserved) into Myanmar declined notably to X kg, falling by -34.5% against 2020 figures. Over the period under review, imports saw a significant decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 288%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, preserved anchovies imports declined markedly to $X in 2021. Overall, imports faced a precipitous slump. The pace of growth appeared the most rapid in 2017 when imports increased by 348% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Singapore (X kg), Italy (X kg) and Thailand (X kg) were the main suppliers of preserved anchovies imports to Myanmar, together comprising 93% of total imports.

From 2015 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of -8.7%), while imports for the other leaders experienced a decline.

In value terms, the largest preserved anchovies suppliers to Myanmar were Italy ($X), Singapore ($X) and Thailand ($X), with a combined 91% share of total imports.

Italy, with a CAGR of -6.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average preserved anchovies import price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 15% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to continue growth in years to come.

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 Italy ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2015 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+19.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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