
Indonesia - Fish Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights
Indonesia: Market for Fish Fats And Oils 2023
Market Size for Fish Fats And Oils in Indonesia
In 2021, after six years of growth, there was significant decline in the Indonesian fish fat and oil market, when its value decreased by -10.3% to $X. Overall, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.8% against 2012 indices. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.
Production of Fish Fats And Oils in Indonesia
In value terms, fish fat and oil production dropped to $X in 2021 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +15.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 89% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.
Exports of Fish Fats And Oils
Exports from Indonesia
In 2021, the amount of fish fats and oils exported from Indonesia shrank dramatically to X tons, falling by -38% against the previous year. Over the period under review, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 1,527% against the previous year. As a result, the exports reached the peak of X tons, and then reduced sharply in the following year.
In value terms, fish fat and oil exports declined markedly to $X in 2021. Overall, exports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2020 when exports increased by 1,286%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.
Exports by Country
Malaysia (X tons) was the main destination for fish fat and oil exports from Indonesia, with a 73% share of total exports. Moreover, fish fat and oil exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. Japan (X tons) ranked third in terms of total exports with a 4.3% share.
From 2012 to 2021, the average annual growth rate of volume to Malaysia totaled +78.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-8.4% per year) and Japan (-10.6% per year).
In value terms, Malaysia ($X) remains the key foreign market for fish fats and oils exports from Indonesia, comprising 66% of total exports. The second position in the ranking was held by Thailand ($X), with a 13% share of total exports. It was followed by Japan, with a 10% share.
From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia totaled +77.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-6.8% per year) and Japan (+2.0% per year).
Export Prices by Country
The average fish fat and oil export price stood at $X per ton in 2021, reducing by -11.1% against the previous year. In general, the export price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 an increase of 46% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.
Prices varied noticeably country of destination: the country with the highest price was Japan ($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 Japan (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Fish Fats And Oils
Imports into Indonesia
In 2021, overseas purchases of fish fats and oils decreased by -4% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports recorded a noticeable curtailment. The growth pace was the most rapid in 2017 when imports increased by 57%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.
In value terms, fish fat and oil imports contracted slightly to $X in 2021. In general, imports saw a perceptible reduction. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.
Imports by Country
In 2021, Chile (X tons) constituted the largest fish fat and oil supplier to Indonesia, with a 64% share of total imports. Moreover, fish fat and oil imports from Chile exceeded the figures recorded by the second-largest supplier, Australia (X tons), sixfold. The third position in this ranking was held by South Korea (X tons), with an 8.2% share.
From 2012 to 2021, the average annual growth rate of volume from Chile was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-3.6% per year) and South Korea (+20.9% per year).
In value terms, Chile ($X) constituted the largest supplier of fish fats and oils to Indonesia, comprising 48% of total imports. The second position in the ranking was taken by Switzerland ($X), with an 18% share of total imports. It was followed by Australia, with a 12% share.
From 2012 to 2021, the average annual growth rate of value from Chile amounted to -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-6.4% per year) and Australia (+0.6% per year).
Import Prices by Country
The average fish fat and oil import price stood at $X per ton in 2021, leveling off at the previous year. Overall, the import price, however, showed a slight setback. The growth pace was the most rapid in 2013 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.
Prices varied noticeably country of origin: the country with the highest price was Switzerland ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+14.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for fish fat and oil in Indonesia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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