United Arab Emirates: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in the United Arab Emirates

In 2021, the frozen cuttlefishes market in the United Arab Emirates was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a abrupt setback. Frozen cuttlefishes consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Frozen Cuttlefishes Production in the United Arab Emirates

In value terms, frozen cuttlefishes production rose sharply to $X in 2021 estimated in export price. In general, production, however, saw a abrupt downturn. Frozen cuttlefishes production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Frozen Cuttlefishes Exports

Exports from the United Arab Emirates

For the third consecutive year, the United Arab Emirates recorded decline in overseas shipments of frozen cuttlefishes, which decreased by -35.3% to X tons in 2021. In general, exports recorded a abrupt setback. The growth pace was the most rapid in 2015 with an increase of 17% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports reduced to $X in 2021. Over the period under review, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of 48%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), Taiwan (Chinese) (X tons) and Bangladesh (X tons) were the main destinations of frozen cuttlefishes exports from the United Arab Emirates, together accounting for 66% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +16.2%), while the other leaders experienced a decline.

In value terms, Vietnam ($X) remains the key foreign market for frozen cuttlefishes exports from the United Arab Emirates, comprising 43% of total exports. The second position in the ranking was held by Sri Lanka ($X), with an 18% share of total exports. It was followed by Taiwan (Chinese), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to -12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+10.9% per year) and Taiwan (Chinese) (-17.2% per year).

Export Prices by Country

The average frozen cuttlefishes export price stood at $X per ton in 2021, rising by 33% against the previous year. In general, the export price continues to indicate a resilient increase. The growth pace was the most rapid in 2017 when the average export price increased by 48% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while the average price for exports to Bangladesh ($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 Sri Lanka (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into the United Arab Emirates

In 2021, imports of frozen cuttlefishes into the United Arab Emirates shrank remarkably to X tons, waning by -24.9% compared with the year before. Overall, imports faced a dramatic shrinkage. The growth pace was the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, frozen cuttlefishes imports shrank to $X in 2021. In general, imports showed a sharp setback. The growth pace was the most rapid in 2014 when imports increased by 107% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Pakistan (X tons) were the main suppliers of frozen cuttlefishes imports to the United Arab Emirates, together accounting for 95% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of -38.2%), while purchases for the other leaders experienced a decline.

In value terms, the largest frozen cuttlefishes suppliers to the United Arab Emirates were China ($X), India ($X) and Pakistan ($X), with a combined 92% share of total imports.

In terms of the main suppliers, China, with a CAGR of -35.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average frozen cuttlefishes import price stood at $X per ton in 2021, jumping by 15% against the previous year. Overall, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes import price increased by +2.7% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 55%. Over the period under review, average import prices hit record highs at $X per ton in 2015; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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