New Zealand: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in New Zealand

The New Zealand preserved anchovies market surged to $X in 2021, increasing by 18% against the previous year. Overall, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.5% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Preserved Anchovies Production in New Zealand

In value terms, preserved anchovies production skyrocketed to $X in 2021 estimated in export price. In general, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.2% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 42%. Preserved anchovies production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Preserved Anchovies Exports

Exports from New Zealand

Preserved anchovies exports from New Zealand fell slightly to X tons in 2021, with a decrease of -3% on 2020 figures. Over the period under review, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 2,052%. As a result, the exports reached the peak of X tons, and then reduced slightly in the following year.

In value terms, preserved anchovies exports expanded remarkably to $X in 2021. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,044%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Australia (X tons) was the main destination for preserved anchovies exports from New Zealand, with a 94% share of total exports. Moreover, preserved anchovies exports to Australia exceeded the volume sent to the second major destination, Vanuatu (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Australia stood at -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vanuatu (+72.2% per year) and Cook Islands (+11.8% per year).

In value terms, Australia ($X) remains the key foreign market for anchovies (prepared or preserved) exports from New Zealand, comprising 95% of total exports. The second position in the ranking was taken by Vanuatu ($X), with a 2.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vanuatu (+39.0% per year) and Cook Islands (+11.4% per year).

Export Prices by Country

In 2021, the average preserved anchovies export price amounted to $X per ton, picking up by 11% against the previous year. In general, the export price, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 an increase of 64% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the 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 Cook Islands ($X per ton), while the average price for exports to Vanuatu ($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 Australia (+13.8%), while the prices for the other major destinations experienced a decline.

Preserved Anchovies Imports

Imports into New Zealand

Preserved anchovies imports into New Zealand skyrocketed to X tons in 2021, picking up by 48% compared with the previous year. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved anchovies imports surged to $X in 2021. The total import value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Spain (X tons) and Peru (X tons) were the main suppliers of preserved anchovies imports to New Zealand, together accounting for 52% of total imports. Morocco, South Korea, Australia, the Philippines, Thailand and Chile lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +53.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and Peru ($X) constituted the largest preserved anchovies suppliers to New Zealand, with a combined 64% share of total imports. These countries were followed by South Korea, Morocco, Australia, Thailand, the Philippines and Chile, which together accounted for a further 29%.

In terms of the main suppliers, Australia, with a CAGR of +41.3%, recorded the highest rates of growth with regard to 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 preserved anchovies import price amounted to $X per ton, increasing by 8.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 15%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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