Myanmar: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Myanmar

The Myanmar's seafood meals and pellets market reduced markedly to $X in 2021, declining by -29.2% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Seafood meals and pellets consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Myanmar

In value terms, seafood meals and pellets production declined modestly to $X in 2021 estimated in export price. In general, production, however, posted a buoyant increase. The growth pace was the most rapid in 2014 when the production volume increased by 57%. Over the period under review, production attained the peak level at $X in 2020, and then declined slightly in the following year.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Myanmar

Seafood meals and pellets exports from Myanmar surged to X tons in 2021, growing by 15% against 2020 figures. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 62% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, seafood meals and pellets exports rose rapidly to $X in 2021. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2016 with an increase of 79% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

Exports by Country

Thailand (X tons) was the main destination for seafood meals and pellets exports from Myanmar, accounting for a 74% share of total exports. Moreover, seafood meals and pellets exports to Thailand exceeded the volume sent to the second major destination, China (X tons), fivefold. The third position in this ranking was held by Malaysia (X tons), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand totaled +56.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+10.0% per year) and Malaysia (-1.2% per year).

In value terms, Thailand ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Myanmar, comprising 80% of total exports. The second position in the ranking was taken by China ($X), with a 10% share of total exports. It was followed by Malaysia, with a 3.6% share.

From 2012 to 2021, the average annual growth rate of value to Thailand totaled +61.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+12.1% per year) and Malaysia (+7.2% per year).

Export Prices by Country

In 2021, the average seafood meals and pellets export price amounted to $X per ton, which is down by -2.3% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, seafood meals and pellets export price decreased by -4.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 31%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to China ($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 (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Myanmar

In 2021, approx. X tons of flours, meals and pellets of fish or of crustaceans and molluscs were imported into Myanmar; jumping by 4,643% compared with 2020. In general, imports continue to indicate tangible growth. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, seafood meals and pellets imports soared to $X in 2021. Overall, imports, however, continue to indicate a noticeable contraction. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), Germany (X tons) and Oman (X tons) were the main suppliers of seafood meals and pellets imports to Myanmar, together accounting for 78% of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +7.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest seafood meals and pellets suppliers to Myanmar were Oman ($X), Brazil ($X) and Germany ($X), with a combined 57% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +7.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average seafood meals and pellets import price amounted to $X per ton, reducing by -33.4% against the previous year. Over the period under review, the import price recorded a deep slump. The pace of growth appeared the most rapid in 2020 an increase of 53%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Singapore ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+8.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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