New Zealand: Preserved Tuna Market 2024

Preserved Tuna Market Size in New Zealand

In 2021, the New Zealand preserved tuna market was finally on the rise to reach $X after three years of decline. In general, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% 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 -36.5% against 2017 indices. Preserved tuna consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Preserved Tuna Production in New Zealand

In value terms, preserved tuna production soared to $X in 2021 estimated in export price. Overall, production recorded a resilient increase. The growth pace was the most rapid in 2013 with an increase of 205% against the previous year. Preserved tuna production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Preserved Tuna Exports

Exports from New Zealand

In 2021, the amount of tuna (prepared or preserved) exported from New Zealand declined significantly to X tons, waning by -60% against 2020. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 101%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved tuna exports declined markedly to $X in 2021. Overall, exports saw a abrupt slump. The pace of growth was the most pronounced in 2020 when exports increased by 52% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cook Islands (X tons) was the main destination for preserved tuna exports from New Zealand, with a 75% share of total exports. Moreover, preserved tuna exports to Cook Islands exceeded the volume sent to the second major destination, Niue (X tons), fourfold. Fiji (X kg) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cook Islands amounted to -6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niue (-11.0% per year) and Fiji (-34.9% per year).

In value terms, Cook Islands ($X) remains the key foreign market for tuna (prepared or preserved) exports from New Zealand, comprising 69% of total exports. The second position in the ranking was held by Niue ($X), with a 26% share of total exports. It was followed by Norfolk Island, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cook Islands amounted to -4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niue (-0.6% per year) and Norfolk Island (+5.3% per year).

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, with an increase of 32% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved tuna export price decreased by -0.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 45%. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Fiji ($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 (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into New Zealand

In 2021, approx. X tons of tuna (prepared or preserved) were imported into New Zealand; approximately mirroring the year before. Over the period under review, imports, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by 17%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved tuna imports amounted to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 25%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X tons) was the main preserved tuna supplier to New Zealand, with a 91% share of total imports. It was followed by Fiji (X tons), with a 1.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand stood at -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Fiji (-0.9% per year) and Vietnam (+8.0% per year).

In value terms, Thailand ($X) constituted the largest supplier of tuna (prepared or preserved) to New Zealand, comprising 92% of total imports. The second position in the ranking was held by Fiji ($X), with a 1.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Fiji (+1.6% per year) and Vietnam (+6.5% per year).

Import Prices by Country

In 2021, the average preserved tuna import price amounted to $X per ton, flattening at the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Fiji (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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