Oman: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Oman

The Omani seafood meals and pellets market contracted modestly to $X in 2021, dropping by -4.4% against the previous year. Overall, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 increased by +15.8% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Oman

In value terms, seafood meals and pellets production dropped notably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate significant growth. The growth pace was the most rapid in 2020 when the production volume increased by 102%. As a result, production attained the peak level of $X, and then fell remarkably in the following year.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Oman

In 2021, after four years of growth, there was significant decline in shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs, when their volume decreased by -27.5% to X tons. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2017 with an increase of 350% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020, and then reduced markedly in the following year.

In value terms, seafood meals and pellets exports contracted significantly to $X in 2021. Overall, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 316%. The exports peaked at $X in 2020, and then shrank markedly in the following year.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for seafood meals and pellets exports from Oman, with a 58% share of total exports. Moreover, seafood meals and pellets exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was held by India (X tons), with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume to Taiwan (Chinese) amounted to +142.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+37.9% per year) and India (+77.8% per year).

In value terms, the largest markets for seafood meals and pellets exported from Oman were Vietnam ($X), Taiwan (Chinese) ($X) and India ($X), together accounting for 83% of total exports.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +133.8%, recorded the highest rates of growth with regard to 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 seafood meals and pellets export price stood at $X per ton in 2021, growing by 6% against the previous year. Over the last nine years, it increased at an average annual rate of +4.9%. The pace of growth was the most pronounced in 2014 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 (+11.2%), while the prices for the other major destinations experienced a decline.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Oman

In 2021, the amount of flours, meals and pellets of fish or of crustaceans and molluscs imported into Oman fell rapidly to X tons, reducing by -77.1% compared with 2020. Over the period under review, imports showed a deep slump. The growth pace was the most rapid in 2020 with an increase of 1,004% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, seafood meals and pellets imports fell sharply to $X in 2021. In general, imports recorded a sharp descent. The most prominent rate of growth was recorded in 2020 with an increase of 627%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of seafood meals and pellets to Oman, with a 74% share of total imports. Moreover, seafood meals and pellets imports from India exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+294.0% per year) and the United States (-33.2% per year).

In value terms, India ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to Oman, comprising 81% of total imports. The second position in the ranking was held by Belgium ($X), with a 10% share of total imports. It was followed by the United States, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at -11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+127.4% per year) and the United States (-35.5% per year).

Import Prices by Country

In 2021, the average seafood meals and pellets import price amounted to $X per ton, which is down by -10.5% against the previous year. Overall, the import price saw a noticeable decline. The pace of growth was the most pronounced in 2018 an increase of 34%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Belgium ($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 United Arab Emirates (+3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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