Southern Asia: Preserved Tuna Market 2024

Preserved Tuna Market Size in Southern Asia

In 2021, the South Asian preserved tuna market decreased by -3% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then dropped in the following year.

Preserved Tuna Production in Southern Asia

In value terms, preserved tuna production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 22%. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Preserved Tuna Exports

Exports in Southern Asia

In 2021, shipments abroad of tuna (prepared or preserved) increased by 109% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 624% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, preserved tuna exports soared to $X in 2021. Overall, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 324% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

The biggest shipments were from India (X tons), together accounting for 100% of total export.

India was also the fastest-growing in terms of the tuna (prepared or preserved) exports, with a CAGR of +21.3% from 2012 to 2021. While the share of India (+13 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest preserved tuna supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India totaled +17.8%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, declining by -3.8% against the previous year. Over the period under review, the export price showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 an increase of 38%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -2.9% per year.

Preserved Tuna Imports

Imports in Southern Asia

After two years of decline, purchases abroad of tuna (prepared or preserved) increased by 11% to X tons in 2021. Overall, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 43% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, preserved tuna imports surged to $X in 2021. In general, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2013 with an increase of 66% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Sri Lanka (X tons) was the major importer of tuna (prepared or preserved), comprising 48% of total imports. Maldives (X tons) ranks second in terms of the total imports with a 17% share, followed by India (9.3%), Pakistan (8.8%), Bangladesh (8.6%) and Nepal (6.9%).

Sri Lanka experienced a relatively flat trend pattern with regard to volume of imports of tuna (prepared or preserved). At the same time, Pakistan (+7.8%), Bangladesh (+3.7%) and Nepal (+1.6%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +7.8% from 2012-2021. By contrast, India (-11.6%) and Maldives (-17.8%) illustrated a downward trend over the same period. While the share of Sri Lanka (+22 p.p.), Pakistan (+6.6 p.p.), Bangladesh (+5.5 p.p.) and Nepal (+4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of India (-4.6 p.p.) and Maldives (-32.6 p.p.) displayed negative dynamics.

In value terms, Sri Lanka ($X) constitutes the largest market for imported tuna (prepared or preserved) in Southern Asia, comprising 51% of total imports. The second position in the ranking was taken by Maldives ($X), with a 17% share of total imports. It was followed by Bangladesh, with a 10% share.

In Sri Lanka, preserved tuna imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Maldives (-18.7% per year) and Bangladesh (+6.5% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, with an increase of 10% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 40% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Pakistan ($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 (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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