SADC: Preserved Salmon Market 2024

Preserved Salmon Market Size in SADC

After five years of decline, the SADC preserved salmon market increased by 7.8% to $X in 2021. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Preserved Salmon Production in SADC

In value terms, preserved salmon production rose sharply to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 22% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Preserved Salmon Exports

Exports in SADC

In 2021, overseas shipments of salmon (prepared or preserved) decreased by -14% to X tons, falling for the second year in a row after two years of growth. Overall, exports faced a abrupt curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 138%. 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, preserved salmon exports skyrocketed to $X in 2021. In general, exports, however, saw a mild increase. The growth pace was the most rapid in 2014 when exports increased by 104%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, South Africa (X tons) represented the major exporter of salmon (prepared or preserved) in SADC, constituting 98% of total export.

South Africa was also the fastest-growing in terms of the salmon (prepared or preserved) exports, with a CAGR of -16.8% from 2012 to 2021. While the share of South Africa (-1.7 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest preserved salmon supplier in SADC.

In South Africa, preserved salmon exports increased at an average annual rate of +1.5% over the period from 2012-2021.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, surging by 49% against the previous year. In general, the export price showed a significant increase. The pace of growth was the most pronounced in 2013 when the export price increased by 82%. The level of export peaked in 2021 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to +22.0% per year.

Preserved Salmon Imports

Imports in SADC

In 2021, purchases abroad of salmon (prepared or preserved) increased by 66% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2013 when imports increased by 154%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved salmon imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 120%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

South Africa represented the main importer of salmon (prepared or preserved) in SADC, with the volume of imports resulting at X tons, which was near 48% of total imports in 2021. Mauritius (X tons) held the second position in the ranking, followed by Namibia (X tons), Zimbabwe (X tons) and Mozambique (X tons). All these countries together held near 47% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved salmon imports into South Africa stood at -14.0%. At the same time, Mozambique (+38.0%) and Mauritius (+29.0%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +38.0% from 2012-2021. By contrast, Zimbabwe (-4.2%) and Namibia (-6.2%) illustrated a downward trend over the same period. While the share of Mauritius (+17 p.p.), Mozambique (+5.1 p.p.), Zimbabwe (+4.1 p.p.) and Namibia (+4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Africa (-27.1 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) constitutes the largest market for imported salmon (prepared or preserved) in SADC, comprising 46% of total imports. The second position in the ranking was taken by Namibia ($X), with a 21% share of total imports. It was followed by Mauritius, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in South Africa amounted to -11.3%. In the other countries, the average annual rates were as follows: Namibia (-2.7% per year) and Mauritius (+23.6% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, stabilizing at the previous year. Import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved salmon import price increased by +67.3% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 27% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mozambique ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform