South-Eastern Asia: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in South-Eastern Asia

The Southeast Asian market for cod, salted or in brine contracted modestly to $X in 2022, falling by -4.3% against the previous year. Overall, consumption recorded a pronounced reduction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Cod, Salted or in Brine in South-Eastern Asia

In value terms, cod, salted or in brine production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 40% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Cod, Salted or in Brine

Exports in South-Eastern Asia

After two years of growth, shipments abroad of cod, salted or in brine decreased by -27.2% to X tons in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 920%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, cod, salted or in brine exports dropped remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 1,099%. The level of export peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

In 2022, Vietnam (X tons) was the major exporter of cod, salted or in brine, creating 81% of total exports. Singapore (X tons) took the second position in the ranking, followed by Myanmar (X tons). All these countries together took near 19% share of total exports.

Exports from Vietnam increased at an average annual rate of +31.5% from 2012 to 2022. At the same time, Singapore (+52.8%) and Myanmar (+19.8%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +52.8% from 2012-2022. Singapore (+9.5 p.p.) and Myanmar (+6.1 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by -15.7% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest cod, salted or in brine supplier in South-Eastern Asia, comprising 88% of total exports. The second position in the ranking was held by Singapore ($X), with a 9.4% share of total exports.

In Vietnam, cod, salted or in brine exports increased at an average annual rate of +44.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (+59.6% per year) and Myanmar (+10.5% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, falling by -7.7% against the previous year. Overall, the export price, however, recorded a remarkable increase. The growth pace was the most rapid in 2014 an increase of 79% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Cod, Salted or in Brine

Imports in South-Eastern Asia

Cod, salted or in brine imports contracted dramatically to X tons in 2022, reducing by -21.4% compared with the year before. Over the period under review, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,198% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cod, salted or in brine imports declined rapidly to $X in 2022. In general, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 813%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Vietnam was the major importer of cod, salted or in brine in South-Eastern Asia, with the volume of imports recording X tons, which was near 83% of total imports in 2022. It was distantly followed by Singapore (X kg), comprising a 15% share of total imports.

Vietnam was also the fastest-growing in terms of the cod, salted or in brine imports, with a CAGR of +68.5% from 2012 to 2022. Singapore (-4.5%) illustrated a downward trend over the same period. While the share of Vietnam (+82 p.p.) and Singapore (+14 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported cod, salted or in brine in South-Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by Singapore ($X), with a 25% share of total imports.

In Vietnam, cod, salted or in brine imports expanded at an average annual rate of +56.6% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, leveling off at the previous year. In general, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 187% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-3.5%).

Source: IndexBox Platform

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