Saudi Arabia: 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 Saudi Arabia

In 2021, the Saudi seafood meals and pellets market decreased by -2.3% to $X, falling for the third consecutive year after two years of growth. In general, consumption, however, enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, seafood meals and pellets production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 315% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

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

Exports from Saudi Arabia

In 2021, after two years of decline, there was growth in overseas shipments of flours, meals and pellets of fish or of crustaceans and molluscs, when their volume increased by 2.6% to X tons. In general, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 104% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, seafood meals and pellets exports rose significantly to $X in 2021. Over the period under review, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 97%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for seafood meals and pellets exports from Saudi Arabia, accounting for a 72% share of total exports. Moreover, seafood meals and pellets exports to Vietnam exceeded the volume sent to the second major destination, Jordan (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+3.3% per year) and Lebanon (-13.0% per year).

In value terms, Vietnam ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Saudi Arabia, comprising 72% of total exports. The second position in the ranking was held by Jordan ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+12.1% per year) and Lebanon (-10.5% per year).

Export Prices by Country

In 2021, the average seafood meals and pellets export price amounted to $X per ton, surging by 2.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 32% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was Jordan ($X per ton), while the average price for exports to Lebanon ($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 Jordan (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Saudi Arabia

In 2021, seafood meals and pellets imports into Saudi Arabia contracted significantly to X tons, with a decrease of -35.7% against 2020. In general, imports saw a noticeable reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 55%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, seafood meals and pellets imports shrank significantly to $X in 2021. Overall, imports recorded a mild slump. The most prominent rate of growth was recorded in 2013 with an increase of 59% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of seafood meals and pellets to Saudi Arabia, accounting for a 71% share of total imports. Moreover, seafood meals and pellets imports from the United States exceeded the figures recorded by the second-largest supplier, Oman (X tons), fourfold. The third position in this ranking was taken by Morocco (X tons), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+46.3% per year) and Morocco (-19.7% per year).

In value terms, the United States ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to Saudi Arabia, comprising 68% of total imports. The second position in the ranking was taken by Oman ($X), with a 19% share of total imports. It was followed by Morocco, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+53.0% per year) and Morocco (-9.9% per year).

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, with an increase of 4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 an increase of 29% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were South Africa ($X per ton) and Mauritania ($X per ton), while the price for Denmark ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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