Myanmar: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Myanmar

In 2021, the Myanmar's preserved fish fillet market decreased by -12.6% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Preserved Fish Fillet Production in Myanmar

In value terms, preserved fish fillet production dropped notably to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 46% against the previous year. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Preserved Fish Fillet Exports

Exports from Myanmar

In 2021, after three years of decline, there was significant growth in shipments abroad of fish fillets (dried, salted or in brine, but not smoked), when their volume increased by 20% to X tons. In general, exports, however, saw a precipitous decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 22%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, preserved fish fillet exports soared to $X in 2021. Over the period under review, exports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2017 when exports increased by 68%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X tons) was the main destination for preserved fish fillet exports from Myanmar, accounting for a 76% share of total exports. Moreover, preserved fish fillet exports to Thailand exceeded the volume sent to the second major destination, Malaysia (X tons), fourfold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand stood at -13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-30.2% per year) and Hong Kong SAR (0.0% per year).

In value terms, Thailand ($X) emerged as the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Myanmar, comprising 59% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 28% share of total exports. It was followed by Hong Kong SAR, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand amounted to +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-16.7% per year) and Hong Kong SAR (0.0% per year).

Export Prices by Country

The average preserved fish fillet export price stood at $X per ton in 2021, increasing by 13% against the previous year. Over the period under review, the export price showed resilient growth. The pace of growth was the most pronounced in 2020 an increase of 79%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to China ($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 Malaysia (+19.3%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Fish Fillet Imports

Imports into Myanmar

In 2021, preserved fish fillet imports into Myanmar contracted sharply to X kg, dropping by -20.3% against the year before. Over the period under review, imports faced a precipitous setback. The most prominent rate of growth was recorded in 2019 when imports increased by 11%. 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 fish fillet imports surged to $X in 2021. In general, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 23%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Singapore (X kg) was the main supplier of preserved fish fillet to Myanmar, accounting for a 91% share of total imports. Moreover, preserved fish fillet imports from Singapore exceeded the figures recorded by the second-largest supplier, Australia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Singapore totaled +20.0%.

In value terms, Singapore ($X) constituted the largest supplier of fish fillets (dried, salted or in brine, but not smoked) to Myanmar, comprising 69% of total imports. The second position in the ranking was held by Australia ($X), with a 31% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Singapore stood at +142.9%.

Import Prices by Country

In 2021, the average preserved fish fillet import price amounted to $X per ton, increasing by 49% against the previous year. Overall, the import price continues to indicate significant growth. The most prominent rate of growth was recorded in 2018 an increase of 133%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per ton), while the price for Singapore amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+91.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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