Myanmar: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Myanmar

The Myanmar's frozen crustaceans market declined dramatically to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption showed a perceptible descent. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Frozen Crustaceans Production in Myanmar

In value terms, frozen crustaceans production reduced to $X in 2022 estimated in export price. Overall, production continues to indicate a mild slump. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Frozen Crustaceans Exports

Exports from Myanmar

In 2022, shipments abroad of frozen crustaceans increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a modest increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, frozen crustaceans exports expanded remarkably to $X in 2022. Over the period under review, exports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for frozen crustaceans exports from Myanmar, with a X% share of total exports. Moreover, frozen crustaceans exports to China exceeded the volume sent to the second major destination, Japan (X tons), threefold. Thailand (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Thailand (X% per year).

In value terms, the largest markets for frozen crustaceans exported from Myanmar were China ($X), Japan ($X) and Thailand ($X), with a combined X% share of total exports. The United States, Hong Kong SAR, Taiwan (Chinese), Malaysia, Singapore and Vietnam lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen crustaceans export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Crustaceans Imports

Imports into Myanmar

In 2022, supplies from abroad of frozen crustaceans increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen crustaceans imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) was the main supplier of frozen crustaceans to Myanmar, with a X% share of total imports. Moreover, frozen crustaceans imports from Thailand exceeded the figures recorded by the second-largest supplier, Japan (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume from Thailand amounted to X%.

In value terms, Thailand ($X) constituted the largest supplier of frozen crustaceans to Myanmar, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand amounted to X%.

Import Prices by Country

The average frozen crustaceans import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price recorded slight growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Japan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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