Southern Asia: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Southern Asia

The South Asian fish fat and oil market reached $X in 2022, approximately mirroring the previous year. Overall, consumption, however, continues to indicate a temperate expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Fish Fats And Oils in Southern Asia

In value terms, fish fat and oil production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 28%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Fish Fats And Oils

Exports in Southern Asia

After four years of decline, overseas shipments of fish fats and oils increased by 3,438% to X tons in 2022. Overall, exports saw buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fish fat and oil exports surged to $X in 2022. Over the period under review, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) represented roughly 99% of total exports in 2022.

India was also the fastest-growing in terms of the fish fats and oils exports, with a CAGR of +5.4% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest fish fat and oil supplier in Southern Asia.

In India, fish fat and oil exports expanded at an average annual rate of +8.4% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, falling by -22.7% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the export price increased by 45%. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then dropped rapidly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +2.8% per year.

Imports of Fish Fats And Oils

Imports in Southern Asia

In 2022, overseas purchases of fish fats and oils decreased by -15.4% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2015 when imports increased by 93% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, fish fat and oil imports stood at $X in 2022. In general, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 104%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Bangladesh (X tons) was the major importer of fish fats and oils, comprising 65% of total imports. India (X tons) held a 27% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (5.3%). Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fish fat and oil imports into Bangladesh stood at +12.8%. At the same time, Pakistan (+28.8%), India (+14.7%) and Sri Lanka (+8.3%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +28.8% from 2012-2022. From 2012 to 2022, the share of Pakistan and India increased by +3.8 and +2.7 percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported fish fats and oils in Southern Asia, comprising 57% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 28% share of total imports. It was followed by Sri Lanka, with an 11% share.

In India, fish fat and oil imports expanded at an average annual rate of +17.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+14.4% per year) and Sri Lanka (+10.1% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, increasing by 33% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil import price increased by +57.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 53% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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