Australia and Oceania: Bigeye Tuna Market 2022

Bigeye Tuna Market Size in Australia and Oceania

The bigeye tuna market in Australia and Oceania reduced notably to $X in 2020, waning by -X% against the previous year. Overall, consumption continues to indicate a slight setback. The most prominent rate of growth was recorded in 2015 when the market value increased by X% year-to-year. As a result, consumption attained the peak level of $X. from 2016 to 2020, the growth of the market failed to regain the momentum.

Bigeye Tuna Production in Australia and Oceania

In value terms, bigeye tuna production reduced to $X in 2020 estimated in export prices. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2020, production stood at a somewhat lower figure.

Production By Country in Australia and Oceania

The country with the largest volume of bigeye tuna production was Micronesia (X tons), accounting for X% of total volume. Moreover, bigeye tuna production in Micronesia exceeded the figures recorded by the second-largest producer, Papua New Guinea (X tons), twofold.

In Micronesia, bigeye tuna production remained relatively stable over the period from 2007-2020.

Bigeye Tuna Exports

Exports in Australia and Oceania

In 2020, the amount of bigeye tuna exported in Australia and Oceania surged to X tons, with an increase of X% compared with the previous year. Overall, exports recorded resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. Over the period under review, exports hit record highs in 2020 and are expected to retain growth in the near future.

In value terms, bigeye tuna exports dropped to $X in 2020. Over the period under review, exports enjoyed pronounced growth. The pace of growth appeared the most rapid in 2011 when exports increased by X% y-o-y. The level of export peaked at $X in 2013; however, from 2014 to 2020, exports failed to regain the momentum.

Exports by Country

Micronesia dominates bigeye tuna exports structure, reaching X tons, which was near X% of total exports in 2020. It was distantly followed by Solomon Islands (X tons), making up a X% share of total exports. Papua New Guinea (X tons) followed a long way behind the leaders.

Micronesia was also the fastest-growing in terms of the bigeye tuna exports, with a CAGR of +X% from 2007 to 2020. Solomon Islands experienced a relatively flat trend pattern. Papua New Guinea (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Micronesia and Solomon Islands increased by +X% and +X% percentage points, while Papua New Guinea (-X p.p.) saw their share reduced.

In value terms, Micronesia ($X) remains the largest bigeye tuna supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was occupied by Solomon Islands ($X), with a X% share of total exports.

In Micronesia, bigeye tuna exports expanded at an average annual rate of +X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Solomon Islands (X% per year) and Papua New Guinea (-X% per year).

Export Prices by Country

In 2020, the bigeye tuna export price in Australia and Oceania amounted to $X per ton, shrinking by -X% against the previous year. Overall, the export price continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2012 an increase of X% against the previous year. As a result, export price attained the peak level of $X per ton. from 2013 to 2020, the growth in terms of the export prices failed to regain the momentum.

Average prices varied somewhat amongst the major exporting countries. In 2020, the country with the highest price was Micronesia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Papua New Guinea, while the other leaders experienced mixed trends in the export price figures.

Bigeye Tuna Imports

Imports in Australia and Oceania

In 2020, purchases abroad of bigeye tuna was finally on the rise to reach X tons for the first time since 2016, thus ending a three-year declining trend. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2020, imports failed to regain the momentum.

In value terms, bigeye tuna imports expanded notably to $X in 2020. Total imports indicated a notable increase from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% year-to-year. Over the period under review, imports reached the peak figure in 2020 and are likely to see steady growth in the near future.

Imports by Country

Micronesia was the major importer of bigeye tuna in Australia and Oceania, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2020. Kiribati (X tons) took a X% share (based on tons) of total imports, which put it in second place, followed by Solomon Islands (X%) and New Zealand (X%). Fiji (X tons), American Samoa (X tons) and Papua New Guinea (X tons) occupied a little share of total imports.

Micronesia was also the fastest-growing in terms of the bigeye tuna imports, with a CAGR of +X% from 2007 to 2020. At the same time, Fiji (+X%), New Zealand (+X%), Solomon Islands (+X%), Papua New Guinea (+X%) and American Samoa (+X%) displayed positive paces of growth. By contrast, Kiribati (-X%) illustrated a downward trend over the same period. Micronesia (+X p.p.), Solomon Islands (+X p.p.), New Zealand (+X p.p.), Fiji (+X p.p.), Papua New Guinea (+X p.p.) and American Samoa (+X p.p.) significantly strengthened its position in terms of the total imports, while Kiribati saw its share reduced by -X% from 2007 to 2020, respectively.

In value terms, Micronesia ($X) constitutes the largest market for imported bigeye tuna in Australia and Oceania, comprising X% of total imports. The second position in the ranking was occupied by Solomon Islands ($X), with a X% share of total imports. It was followed by Kiribati, with a X% share.

In Micronesia, bigeye tuna imports increased at an average annual rate of +X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Solomon Islands (+X% per year) and Kiribati (-X% per year).

Import Prices by Country

In 2020, the bigeye tuna import price in Australia and Oceania amounted to $X per ton, shrinking by -X% against the previous year. Import price indicated a moderate increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, bigeye tuna import price increased by +X% against 2013 indices. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019, and then declined in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Micronesia ($X per ton), while New Zealand ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Fiji, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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