Oman: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Oman

The Omani preserved fish fillet market reduced notably to $X in 2021, shrinking by -20.5% against the previous year. Over the period under review, consumption continues to indicate a remarkable increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Preserved Fish Fillet Production in Oman

In value terms, preserved fish fillet production fell slightly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 66% against the previous year. Preserved fish fillet production peaked at $X in 2020, and then shrank slightly in the following year.

Preserved Fish Fillet Exports

Exports from Oman

In 2021, exports of fish fillets (dried, salted or in brine, but not smoked) from Oman soared to X tons, with an increase of 230% compared with 2020. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 471%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, preserved fish fillet exports surged to $X in 2021. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for preserved fish fillet exports from Oman, accounting for a 62% share of total exports. Moreover, preserved fish fillet exports to Turkey exceeded the volume sent to the second major destination, Sri Lanka (X tons), threefold. Saudi Arabia (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+27.1% per year) and Saudi Arabia (+10.7% per year).

In value terms, Turkey ($X) emerged as the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Oman, comprising 63% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 30% share of total exports. It was followed by Hong Kong SAR, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+36.5% per year) and Hong Kong SAR (+13.9% per year).

Export Prices by Country

The average preserved fish fillet export price stood at $X per ton in 2021, growing by 6.3% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 77%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Saudi Arabia ($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 Sri Lanka (+7.4%), while the prices for the other major destinations experienced a decline.

Preserved Fish Fillet Imports

Imports into Oman

In 2021, purchases abroad of fish fillets (dried, salted or in brine, but not smoked) increased by 19% to X tons, rising for the second year in a row after four years of decline. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2015 when imports increased by 256%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved fish fillet imports dropped remarkably to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 243%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Yemen (X tons) constituted the largest preserved fish fillet supplier to Oman, accounting for a 60% share of total imports. Moreover, preserved fish fillet imports from Yemen exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Yemen totaled +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+37.2% per year) and the United Arab Emirates (+14.8% per year).

In value terms, India ($X) constituted the largest supplier of fish fillets (dried, salted or in brine, but not smoked) to Oman, comprising 57% of total imports. The second position in the ranking was held by Yemen ($X), with a 22% share of total imports. It was followed by the United Arab Emirates, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value from India stood at +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Yemen (-4.5% per year) and the United Arab Emirates (-7.8% per year).

Import Prices by Country

In 2021, the average preserved fish fillet import price amounted to $X per ton, falling by -41.1% against the previous year. Overall, the import price showed a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 86%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+13.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :