Thailand: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Thailand

The Thai preserved mackerel market reached $X in 2021, increasing by 14% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Preserved Mackerel Production in Thailand

In value terms, preserved mackerel production soared to $X in 2021 estimated in export price. In general, production, however, recorded a mild decrease. The growth pace was the most rapid in 2018 when the production volume increased by 34% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Preserved Mackerel Exports

Exports from Thailand

For the third year in a row, Thailand recorded decline in shipments abroad of mackerel (prepared or preserved), which decreased by -14.5% to X tons in 2021. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2018 when exports increased by 21%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, preserved mackerel exports shrank to $X in 2021. In general, exports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 33%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons), the United States (X tons) and Yemen (X tons) were the main destinations of preserved mackerel exports from Thailand, with a combined 74% share of total exports. Jamaica, Myanmar, Australia, Egypt, South Africa, Cambodia and Vietnam lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +82.1%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for mackerel (prepared or preserved) exports from Thailand, comprising 48% of total exports. The second position in the ranking was held by the United States ($X), with a 21% share of total exports. It was followed by Yemen, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Japan totaled +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.8% per year) and Yemen (+35.3% per year).

Export Prices by Country

The average preserved mackerel export price stood at $X per ton in 2021, picking up by 8.7% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved mackerel export price decreased by -20.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 64% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Jamaica ($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 Yemen (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Mackerel Imports

Imports into Thailand

In 2021, after two years of growth, there was significant decline in supplies from abroad of mackerel (prepared or preserved), when their volume decreased by -27% to X tons. Overall, imports, however, posted a notable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 125% against the previous year. 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 mackerel imports fell notably to $X in 2021. Over the period under review, imports, however, showed tangible growth. The most prominent rate of growth was recorded in 2016 when imports increased by 120%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of preserved mackerel imports to Thailand, with a combined 100% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +22.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest preserved mackerel suppliers to Thailand were Vietnam ($X), China ($X) and Malaysia ($X), with a combined 99% share of total imports.

China, with a CAGR of +19.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average preserved mackerel import price stood at $X per ton in 2021, picking up by 7.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2019 when the average import price increased by 46% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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