Vietnam: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Vietnam

The Vietnamese fish meals and pellet market soared to $X in 2021, picking up by 1,283% against the previous year. Over the period under review, consumption, however, saw a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish in Vietnam

In value terms, fish meals and pellet production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. Fish meals and pellet production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports from Vietnam

In 2021, the amount of flours, meals and pellets of fish exported from Vietnam declined markedly to X tons, with a decrease of -66.3% against 2020. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 2,833%. The exports peaked at X tons in 2020, and then declined markedly in the following year.

In value terms, fish meals and pellet exports dropped rapidly to $X in 2021. In general, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 3,362%. Over the period under review, the exports attained the maximum at $X in 2020, and then dropped notably in the following year.

Exports by Country

Japan (X tons) was the main destination for fish meals and pellet exports from Vietnam, accounting for a 96% share of total exports. It was followed by the United States (X tons), with a 2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Japan totaled +81.7%.

In value terms, Japan ($X) remains the key foreign market for flours, meals and pellets of fish exports from Vietnam, comprising 96% of total exports. The second position in the ranking was held by the United States ($X), with a 2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan totaled +65.6%.

Export Prices by Country

The average fish meals and pellet export price stood at $X per ton in 2021, shrinking by -16.5% against the previous year. Overall, the export price showed a abrupt decrease. The pace of growth appeared the most rapid in 2020 when the average export price increased by 34% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-4.0%), while the prices for the other major destinations experienced a decline.

Imports of Flours, Meals And Pellets Of Fish

Imports into Vietnam

In 2021, approx. X tons of flours, meals and pellets of fish were imported into Vietnam; picking up by 106% on 2020 figures. Overall, imports saw buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 372% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, fish meals and pellet imports skyrocketed to $X in 2021. Over the period under review, imports showed strong growth. The pace of growth was the most pronounced in 2013 when imports increased by 130%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest fish meals and pellet supplier to Vietnam, with a 90% share of total imports. Moreover, fish meals and pellet imports from Canada exceeded the figures recorded by the second-largest supplier, Norway (X tons), more than tenfold. The third position in this ranking was taken by Japan (X kg), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada totaled -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+1.3% per year) and Japan (-20.4% per year).

In value terms, Canada ($X) constituted the largest supplier of flours, meals and pellets of fish to Vietnam, comprising 90% of total imports. The second position in the ranking was taken by Japan ($X), with a 4.9% share of total imports. It was followed by Norway, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-11.1% per year) and Norway (+2.3% per year).

Import Prices by Country

In 2021, the average fish meals and pellet import price amounted to $X per ton, reducing by -13.9% against the previous year. In general, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 39% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+45.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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