Thailand: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Thailand

In 2021, the Thai preserved fish fillet market increased by 0.9% to $X, rising for the third consecutive year after four years of decline. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +7.0% against 2018 indices. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Preserved Fish Fillet Production in Thailand

In value terms, preserved fish fillet production declined slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +8.0% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 66%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Preserved Fish Fillet Exports

Exports from Thailand

After three years of growth, overseas shipments of fish fillets (dried, salted or in brine, but not smoked) decreased by -73.7% to X tons in 2021. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 406% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then fell remarkably in the following year.

In value terms, preserved fish fillet exports contracted rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 509% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then dropped notably in the following year.

Exports by Country

Japan (X tons) was the main destination for preserved fish fillet exports from Thailand, accounting for a 90% share of total exports. Moreover, preserved fish fillet exports to Japan exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Japan totaled +228.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+25.1% per year) and Oman (-61.1% per year).

In value terms, Japan ($X) remains the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Thailand, comprising 95% of total exports. The second position in the ranking was held by South Korea ($X), with a 1.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +272.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+20.9% per year) and Oman (-42.0% per year).

Export Prices by Country

The average preserved fish fillet export price stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 an increase of 53% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($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 Oman (+49.1%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Fish Fillet Imports

Imports into Thailand

In 2021, purchases abroad of fish fillets (dried, salted or in brine, but not smoked) decreased by -17.5% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports showed a deep setback. The most prominent rate of growth was recorded in 2015 when imports increased by 729% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved fish fillet imports fell rapidly to $X in 2021. In general, imports, however, continue to indicate a moderate increase. The most prominent rate of growth was recorded in 2013 with an increase of 472% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Myanmar (X tons) was the main supplier of preserved fish fillet to Thailand, accounting for a 100% share of total imports. It was followed by Japan (X kg), with a 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Myanmar was relatively modest.

In value terms, Myanmar ($X) constituted the largest supplier of fish fillets (dried, salted or in brine, but not smoked) to Thailand, comprising 99% of total imports. The second position in the ranking was taken by Japan ($X), with a 0.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Myanmar amounted to -10.7%.

Import Prices by Country

In 2021, the average preserved fish fillet import price amounted to $X per ton, dropping by -25.5% against the previous year. In general, the import price, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by 279% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Myanmar amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+36.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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