Indonesia: Frozen Lobster Market 2024

Frozen Lobster Market Size in Indonesia

The Indonesian frozen lobster market shrank sharply to $X in 2022, waning by -61.2% against the previous year. In general, consumption faced a dramatic setback. Frozen lobster consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Frozen Lobster Production in Indonesia

In value terms, frozen lobster production reduced to $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 61% against the previous year. Frozen lobster production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Frozen Lobster Exports

Exports from Indonesia

Frozen lobster exports from Indonesia reduced notably to X tons in 2022, shrinking by -22.7% on the previous year. Over the period under review, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 152%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, frozen lobster exports contracted remarkably to $X in 2022. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by 181%. As a result, the exports attained the peak of $X, and then dropped rapidly in the following year.

Exports by Country

Belgium (X tons) was the main destination for frozen lobster exports from Indonesia, accounting for a 54% share of total exports. Moreover, frozen lobster exports to Belgium exceeded the volume sent to the second major destination, Singapore (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled +33.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+18.4% per year) and the Netherlands (+34.4% per year).

In value terms, the largest markets for frozen lobster exported from Indonesia were Belgium ($X), the Netherlands ($X) and the United States ($X), with a combined 71% share of total exports.

The Netherlands, with a CAGR of +49.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen lobster export price amounted to $X per ton, with a decrease of -12.3% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+26.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Lobster Imports

Imports into Indonesia

After two years of decline, purchases abroad of frozen lobster increased by 43% to X kg in 2022. In general, imports, however, saw a precipitous decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 459%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, frozen lobster imports soared to $X in 2022. Over the period under review, imports, however, showed a sharp shrinkage. The growth pace was the most rapid in 2016 when imports increased by 268%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X kg) was the main supplier of frozen lobster to Indonesia, with a 91% share of total imports. Moreover, frozen lobster imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-44.0% per year) and Singapore (-36.8% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen lobster to Indonesia, comprising 91% of total imports. The second position in the ranking was held by Canada ($X), with a 6.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-45.3% per year) and Singapore (-41.5% per year).

Import Prices by Country

In 2022, the average frozen lobster import price amounted to $X per ton, jumping by 59% against the previous year. Overall, the import price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2016 when the average import price increased by 59%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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