Myanmar: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Myanmar

In 2021, the Myanmar's frozen whole fish market decreased by -96% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption saw a precipitous descent. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Frozen Whole Fish Production in Myanmar

In value terms, frozen whole fish production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, showed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,140% against the previous year. Frozen whole fish production peaked at $X in 2020, and then contracted in the following year.

Frozen Whole Fish Exports

Exports from Myanmar

In 2021, exports of frozen whole fish from Myanmar soared to X tons, picking up by 26% compared with the previous year. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 701% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, frozen whole fish exports rose markedly to $X in 2021. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 711% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Thailand (X tons), China (X tons) and Saudi Arabia (X tons) were the main destinations of frozen whole fish exports from Myanmar, with a combined 55% share of total exports. Singapore, the United Arab Emirates, the UK, Qatar, Bangladesh, Malaysia, Oman, Kuwait, the United States and India lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +321.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Saudi Arabia ($X) were the largest markets for frozen whole fish exported from Myanmar worldwide, with a combined 55% share of total exports. Singapore, the UK, India, Malaysia, the United Arab Emirates, Bangladesh, Qatar, the United States, Kuwait and Oman lagged somewhat behind, together accounting for a further 36%.

Among the main countries of destination, Singapore, with a CAGR of +226.4%, recorded 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

The average frozen whole fish export price stood at $X per ton in 2021, with a decrease of -16.6% against the previous year. Overall, the export price recorded a mild downturn. The most prominent rate of growth was recorded in 2013 an increase of 41%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the United Arab Emirates ($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 Saudi Arabia (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Whole Fish Imports

Imports into Myanmar

In 2021, approx. X tons of frozen whole fish were imported into Myanmar; falling by -64.7% compared with the previous year's figure. Over the period under review, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 700%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen whole fish imports declined dramatically to $X in 2021. In general, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2017 with an increase of 231% against the previous year. Imports peaked at $X in 2020, and then shrank sharply in the following year.

Imports by Country

In 2021, Norway (X tons) constituted the largest frozen whole fish supplier to Myanmar, with a 63% share of total imports. Moreover, frozen whole fish imports from Norway exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), sixfold. The third position in this ranking was taken by Pakistan (X tons), with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Norway totaled +56.4%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+83.0% per year) and Pakistan (+22.6% per year).

In value terms, Norway ($X) constituted the largest supplier of frozen whole fish to Myanmar, comprising 85% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 4.4% share of total imports. It was followed by Argentina, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Norway stood at +55.1%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+76.0% per year) and Argentina (+7.0% per year).

Import Prices by Country

The average frozen whole fish import price stood at $X per ton in 2021, rising by 24% against the previous year. In general, the import price recorded a remarkable increase. The growth pace was the most rapid in 2019 when the average import price increased by 343%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Yemen (+47.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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