Myanmar: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in Myanmar

The Myanmar's frozen fish meat market rose sharply to $X in 2021, increasing by 8.8% against the previous year. Over the period under review, consumption showed a resilient increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Frozen Fish Meat Production in Myanmar

In value terms, frozen fish meat production expanded slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 11%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Frozen Fish Meat Exports

Exports from Myanmar

In 2021, exports of frozen fish meat from Myanmar reduced to X tons, which is down by -9.4% compared with the previous year's figure. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 41% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen fish meat exports dropped to $X in 2021. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 35% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), Taiwan (Chinese) (X tons) and Canada (X tons) were the main destinations of frozen fish meat exports from Myanmar, together accounting for 59% of total exports. South Korea, the United Arab Emirates, Thailand, Vietnam, Japan and China lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +65.3%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Canada ($X) and Saudi Arabia ($X) appeared to be the largest markets for frozen fish meat exported from Myanmar worldwide, with a combined 62% share of total exports. South Korea, the United Arab Emirates, Thailand, Vietnam, Japan and China lagged somewhat behind, together accounting for a further 29%.

In terms of the main countries of destination, Thailand, with a CAGR of +49.0%, 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 2021, the average frozen fish meat export price amounted to $X per ton, stabilizing at the previous year. Overall, the export price saw a noticeable decrease. The pace of growth appeared the most rapid in 2013 when the average export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Vietnam ($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 Vietnam (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports into Myanmar

In 2021, frozen fish meat imports into Myanmar skyrocketed to X tons, jumping by 23% compared with 2020 figures. Overall, imports, however, continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2017 when imports increased by 228%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, frozen fish meat imports soared to $X in 2021. In general, imports, however, showed a noticeable decline. The growth pace was the most rapid in 2017 with an increase of 249%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tons) was the main supplier of frozen fish meat to Myanmar, with a 96% share of total imports. Moreover, frozen fish meat imports from Thailand exceeded the figures recorded by the second-largest supplier, Norway (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand totaled +61.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+36.1% per year) and Malaysia (-74.0% per year).

In value terms, Thailand ($X) constituted the largest supplier of frozen fish meat to Myanmar, comprising 97% of total imports. The second position in the ranking was held by Norway ($X), with a 3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Thailand amounted to +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-13.1% per year) and Malaysia (-73.2% per year).

Import Prices by Country

The average frozen fish meat import price stood at $X per ton in 2021, remaining constant against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 136%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+25.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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