Pakistan: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Pakistan

In 2021, the Pakistani fresh fish fillet market decreased by -14.8% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, posted a prominent increase. Over the period under review, the market reached the maximum level at $X in 2020, and then dropped in the following year.

Fresh Fish Fillet Production in Pakistan

In value terms, fresh fish fillet production fell remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by 62%. Fresh fish fillet production peaked at $X in 2020, and then fell dramatically in the following year.

Fresh Fish Fillet Exports

Exports from Pakistan

In 2021, approx. X tons of fresh or chilled fish fillets were exported from Pakistan; growing by 33% against the previous year. Over the period under review, exports, however, faced a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 318%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, fresh fish fillet exports rose to $X in 2021. In general, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2014 when exports increased by 296%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for fresh fish fillet exports from Pakistan, with a 74% share of total exports. Moreover, fresh fish fillet exports to Thailand exceeded the volume sent to the second major destination, Canada (X tons), sevenfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand totaled -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+27.2% per year) and Taiwan (Chinese) (-2.9% per year).

In value terms, Thailand ($X) emerged as the key foreign market for fresh or chilled fish fillets exports from Pakistan, comprising 67% of total exports. The second position in the ranking was held by Canada ($X), with a 15% share of total exports. It was followed by Taiwan (Chinese), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand stood at -9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+28.8% per year) and Taiwan (Chinese) (-49.7% per year).

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, reducing by -22.9% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh fish fillet export price increased by +5.4% against 2019 indices. The growth pace was the most rapid in 2015 when the average export price increased by 62% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then plummeted in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Thailand ($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 South Korea (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into Pakistan

In 2021, overseas purchases of fresh or chilled fish fillets were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 23,013%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, fresh fish fillet imports surged to $X in 2021. Overall, imports continue to indicate a significant increase. The growth pace was the most rapid in 2016 when imports increased by 17,496%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Vietnam (X tons) was the main supplier of fresh fish fillet to Pakistan, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Vietnam amounted to +51.0%.

In value terms, Vietnam ($X) constituted the largest supplier of fresh or chilled fish fillets to Pakistan.

From 2012 to 2021, the average annual growth rate of value from Vietnam totaled +39.1%.

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, rising by 6% against the previous year. In general, the import price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 40% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Vietnam.

From 2012 to 2021, the rate of growth in terms of prices for Vietnam amounted to -7.9% per year.

Source: IndexBox Platform

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