Thailand: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Thailand

In 2021, the Thai preserved anchovies market increased by 0.5% to $X, rising for the sixth consecutive year after three years of decline. Over the period under review, consumption, however, continues to indicate buoyant growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Preserved Anchovies Production in Thailand

In value terms, preserved anchovies production totaled $X in 2021 estimated in export price. Overall, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 44% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Preserved Anchovies Exports

Exports from Thailand

In 2021, the amount of anchovies (prepared or preserved) exported from Thailand expanded significantly to X tons, increasing by 9.1% on 2020 figures. In general, exports, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2013 when exports increased by 97%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, preserved anchovies exports amounted to $X in 2021. Overall, exports posted a pronounced increase. The growth pace was the most rapid in 2013 when exports increased by 136% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for preserved anchovies exports from Thailand, with a 74% share of total exports. Moreover, preserved anchovies exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), ninefold. The third position in this ranking was held by Australia (X tons), with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume to Japan stood at +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+69.2% per year) and Australia (+22.4% per year).

In value terms, Japan ($X) remains the key foreign market for anchovies (prepared or preserved) exports from Thailand, comprising 70% of total exports. The second position in the ranking was taken by Australia ($X), with a 9.7% share of total exports. It was followed by Hong Kong SAR, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+22.9% per year) and Hong Kong SAR (+61.3% per year).

Export Prices by Country

In 2021, the average preserved anchovies export price amounted to $X per ton, reducing by -8.2% against the previous year. In general, the export price, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2019 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Singapore ($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 Malaysia (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Thailand

After two years of decline, supplies from abroad of anchovies (prepared or preserved) increased by 100% to X tons in 2021. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 920% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, preserved anchovies imports surged to $X in 2021. Overall, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 318%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), Vietnam (X tons) and Italy (X tons) were the main suppliers of preserved anchovies imports to Thailand, together accounting for 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +128.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) constituted the largest supplier of anchovies (prepared or preserved) to Thailand, comprising 64% of total imports. The second position in the ranking was held by Vietnam ($X), with a 21% share of total imports. It was followed by Morocco, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled +123.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+51.7% per year) and Morocco (-5.6% per year).

Import Prices by Country

The average preserved anchovies import price stood at $X per ton in 2021, reducing by -21.8% against the previous year. In general, the import price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2015 an increase of 63%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Morocco ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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