Myanmar: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Myanmar

The Myanmar's frozen fish fillet market surged to $X in 2022, with an increase of 392% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Frozen Fish Fillet Production in Myanmar

In value terms, frozen fish fillet production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 22%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Frozen Fish Fillet Exports

Exports from Myanmar

Frozen fish fillet exports from Myanmar declined remarkably to X tons in 2022, waning by -79.2% compared with the year before. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 590%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, frozen fish fillet exports reduced markedly to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 461% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Iraq (X tons) was the main destination for frozen fish fillet exports from Myanmar, accounting for a 65% share of total exports. Moreover, frozen fish fillet exports to Iraq exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. Thailand (X tons) ranked third in terms of total exports with a 6.5% share.

From 2014 to 2022, the average annual rate of growth in terms of volume to Iraq was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+17.7% per year) and Thailand (-20.8% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for frozen fish fillet exports from Myanmar, comprising 65% of total exports. The second position in the ranking was taken by Iraq ($X), with a 31% share of total exports. It was followed by Thailand, with a 3.2% share.

From 2014 to 2022, the average annual growth rate of value to Malaysia stood at +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (0.0% per year) and Thailand (-28.8% per year).

Export Prices by Country

In 2022, the average frozen fish fillet export price amounted to $X per ton, rising by 60% against the previous year. Over the period under review, the export price, however, continues to indicate a deep reduction. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+10.5%).

Frozen Fish Fillet Imports

Imports into Myanmar

Frozen fish fillet imports into Myanmar soared to X tons in 2022, with an increase of 293% on 2021. Over the period under review, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish fillet imports soared to $X in 2022. In general, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest frozen fish fillet supplier to Myanmar, accounting for a 72% share of total imports. Moreover, frozen fish fillet imports from Turkey exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold.

From 2015 to 2022, the average annual rate of growth in terms of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+23.1% per year) and Japan (+21.6% per year).

In value terms, Turkey ($X) constituted the largest supplier of frozen fish fillet to Myanmar, comprising 87% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7% share of total imports.

From 2015 to 2022, the average annual growth rate of value from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+31.2% per year) and Japan (+22.7% per year).

Import Prices by Country

In 2022, the average frozen fish fillet import price amounted to $X per ton, surging by 180% against the previous year. Overall, the import price, however, continues to indicate a deep contraction. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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