Oman: Preserved Sardines Market 2024

Preserved Sardines Market Size in Oman

The Omani preserved sardines market stood at $X in 2022, picking up by 11% against the previous year. Over the period under review, consumption continues to indicate prominent growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Preserved Sardines Production in Oman

In value terms, preserved sardines production rose rapidly to $X in 2022 estimated in export price. Overall, production saw buoyant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 85% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Preserved Sardines Exports

Exports from Oman

In 2022, exports of sardines (prepared or preserved) from Oman totaled X tons, growing by 13% compared with the previous year. Overall, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 187%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, preserved sardines exports rose to $X in 2022. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 283% against the previous year. The exports peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports by Country

Qatar (X tons), India (X tons) and Iraq (X tons) were the main destinations of preserved sardines exports from Oman, together accounting for 79% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +79.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved sardines exported from Oman were the United Arab Emirates ($X), Qatar ($X) and Iraq ($X), together accounting for 66% of total exports.

In terms of the main countries of destination, Iraq, with a CAGR of +99.3%, saw 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 preserved sardines export price stood at $X per ton in 2022, shrinking by -9.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 67%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Libya ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Oman

In 2022, after two years of decline, there was significant growth in supplies from abroad of sardines (prepared or preserved), when their volume increased by 7% to X tons. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 681%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, preserved sardines imports reduced to $X in 2022. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 1,949%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Yemen (X tons) was the main supplier of preserved sardines to Oman, accounting for a 93% share of total imports. It was followed by the Philippines (X tons), with a 1.7% share of total imports. The third position in this ranking was held by the United Arab Emirates (X tons), with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Yemen amounted to +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+9.8% per year) and the United Arab Emirates (+12.5% per year).

In value terms, Yemen ($X) constituted the largest supplier of sardines (prepared or preserved) to Oman, comprising 75% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 5.7% share of total imports. It was followed by the United Arab Emirates, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Yemen stood at +31.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+33.8% per year) and the United Arab Emirates (+27.7% per year).

Import Prices by Country

The average preserved sardines import price stood at $X per ton in 2022, with a decrease of -7.4% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +11.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved sardines import price increased by +7.4% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 162%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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