Southern Asia: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Southern Asia

After five years of growth, the South Asian preserved anchovies market decreased by -6.6% to $X in 2021. In general, consumption, however, enjoyed a perceptible increase. The level of consumption peaked at $X in 2020, and then declined in the following year.

Preserved Anchovies Production in Southern Asia

In value terms, preserved anchovies production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, saw a moderate expansion. The pace of growth was the most pronounced in 2017 with an increase of 35% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Preserved Anchovies Exports

Exports in Southern Asia

In 2021, after two years of growth, there was significant decline in shipments abroad of anchovies (prepared or preserved), when their volume decreased by -14.1% to X tons. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 194% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved anchovies exports declined to $X in 2021. Overall, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2016 when exports increased by 139% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Nepal (X tons), India (X tons) and Sri Lanka (X tons) represented roughly 93% of total exports in 2021. It was distantly followed by Pakistan (X kg), mixing up a 6.7% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Nepal (with a CAGR of +423.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Sri Lanka ($X) and Nepal ($X) were the countries with the highest levels of exports in 2021, together accounting for 97% of total exports.

Among the main exporting countries, Nepal, with a CAGR of +128.8%, recorded the highest growth rate of 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

In 2021, the export price in Southern Asia amounted to $X per ton, rising by 2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 63%. Over the period under review, the export prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.3%), while the other leaders experienced a decline in the export price figures.

Preserved Anchovies Imports

Imports in Southern Asia

In 2021, the amount of anchovies (prepared or preserved) imported in Southern Asia fell to X tons, waning by -9% against the previous year's figure. Over the period under review, imports, however, showed strong growth. The growth pace was the most rapid in 2016 with an increase of 127%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved anchovies imports reduced markedly to $X in 2021. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 177%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

India dominates imports structure, resulting at X tons, which was near 77% of total imports in 2021. It was distantly followed by Sri Lanka (X kg), Maldives (X kg) and Pakistan (X kg), together achieving a 20% share of total imports. Bangladesh (X kg) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved anchovies imports into India stood at +9.1%. At the same time, Pakistan (+59.0%) and Maldives (+7.3%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +59.0% from 2012-2021. By contrast, Sri Lanka (-6.8%) and Bangladesh (-13.5%) illustrated a downward trend over the same period. While the share of India (+20 p.p.) and Pakistan (+5.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Bangladesh (-7.9 p.p.) and Sri Lanka (-15.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported anchovies (prepared or preserved) in Southern Asia, comprising 72% of total imports. The second position in the ranking was held by Maldives ($X), with a 10% share of total imports. It was followed by Sri Lanka, with a 10% share.

In India, preserved anchovies imports increased at an average annual rate of +15.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Maldives (+6.4% per year) and Sri Lanka (+6.3% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, falling by -7.3% against the previous year. Overall, the import price, however, enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2017 when the import price increased by 62%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Maldives ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+14.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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