Oman: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Oman

The Omani frozen cuttlefishes market expanded rapidly to $X in 2021, with an increase of 9% against the previous year. In general, consumption saw significant growth. 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.

Frozen Cuttlefishes Production in Oman

In value terms, frozen cuttlefishes production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 -7.7% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 32%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Frozen Cuttlefishes Exports

Exports from Oman

For the third consecutive year, Oman recorded decline in overseas shipments of frozen cuttlefishes, which decreased by -55.5% to X tons in 2021. Over the period under review, exports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2018 with an increase of 308% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports plummeted to $X in 2021. In general, exports saw a sharp descent. The most prominent rate of growth was recorded in 2018 when exports increased by 409% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Greece (X tons) and Italy (X tons) were the main destinations of frozen cuttlefishes exports from Oman, with a combined 51% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +71.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Taiwan (Chinese) ($X) and Italy ($X) constituted the largest markets for frozen cuttlefishes exported from Oman worldwide, together accounting for 51% of total exports.

Greece, with a CAGR of +63.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen cuttlefishes export price stood at $X per ton in 2021, growing by 35% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the average export price increased by 37%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Malaysia ($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 Qatar (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Oman

In 2021, the amount of frozen cuttlefishes imported into Oman reduced sharply to X tons, shrinking by -34.8% on 2020. In general, imports showed a abrupt contraction. The growth pace was the most rapid in 2014 when imports increased by 131%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes imports contracted rapidly to $X in 2021. Over the period under review, imports saw a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of 103%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of frozen cuttlefishes to Oman, accounting for a 59% share of total imports. Moreover, frozen cuttlefishes imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was taken by India (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (0.0% per year) and India (-10.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of frozen cuttlefishes to Oman, comprising 67% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by India, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (0.0% per year) and India (-5.5% per year).

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, picking up by 3.7% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes import price increased by +73.7% against 2015 indices. The pace of growth appeared the most rapid in 2016 an increase of 25%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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