Southern Asia: Frozen Whole Turkey Market 2024

Frozen Whole Turkey Market Size in Southern Asia

The South Asian frozen whole turkey market reduced slightly to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption enjoyed a buoyant expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Frozen Whole Turkey Production in Southern Asia

In value terms, frozen whole turkey production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 23%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

India (X tons) remains the largest frozen whole turkey producing country in Southern Asia, comprising approx. 100% of total volume.

In India, frozen whole turkey production increased at an average annual rate of +7.9% over the period from 2012-2022.

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Frozen Whole Turkey Exports

Exports in Southern Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of frozen whole turkeys, when their volume decreased by -99.7% to X kg. Overall, exports recorded a sharp reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 38,191%. As a result, the exports reached the peak of X tons, and then contracted markedly in the following year.

In value terms, frozen whole turkey exports contracted dramatically to $X in 2022. Over the period under review, exports saw a sharp downturn. The growth pace was the most rapid in 2021 with an increase of 29,402% against the previous year. As a result, the exports reached the peak of $X, and then reduced sharply in the following year.

Exports by Country

Sri Lanka (X kg) represented roughly 100% of total exports in 2022.

Sri Lanka was also the fastest-growing in terms of the frozen whole turkeys exports, with a CAGR of +6.0% from 2012 to 2022. While the share of Sri Lanka (+99 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sri Lanka ($X) also remains the largest frozen whole turkey supplier in Southern Asia.

In Sri Lanka, frozen whole turkey exports expanded at an average annual rate of +9.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 25% against the previous year. Export price indicated a perceptible increase 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. Based on 2022 figures, frozen whole turkey export price decreased by -3.3% against 2020 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 37%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Sri Lanka.

From 2012 to 2022, the rate of growth in terms of prices for Sri Lanka amounted to +3.1% per year.

Frozen Whole Turkey Imports

Imports in Southern Asia

In 2022, approx. X tons of frozen whole turkeys were imported in Southern Asia; shrinking by -6.6% on the year before. In general, imports recorded a slight downturn. The most prominent rate of growth was recorded in 2018 with an increase of 139%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, frozen whole turkey imports reduced modestly to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +5.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 105%. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Maldives (X tons) represented the major importer of frozen whole turkeys, achieving 55% of total imports. India (X tons) took the second position in the ranking, distantly followed by Afghanistan (X tons) and Sri Lanka (X tons). All these countries together held near 40% share of total imports. Nepal (X tons) and Bangladesh (X tons) took a little share of total imports.

Imports into Maldives increased at an average annual rate of +10.8% from 2012 to 2022. At the same time, India (+31.9%), Bangladesh (+11.1%) and Nepal (+5.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +31.9% from 2012-2022. By contrast, Sri Lanka (-4.2%) and Afghanistan (-14.2%) illustrated a downward trend over the same period. Maldives (+37 p.p.) and India (+19 p.p.) significantly strengthened its position in terms of the total imports, while Sri Lanka and Afghanistan saw its share reduced by -2.2% and -41% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen whole turkey importing markets in Southern Asia were Maldives ($X), India ($X) and Afghanistan ($X), with a combined 91% share of total imports.

Among the main importing countries, India, with a CAGR of +35.9%, 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 more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, surging by 3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The pace of growth appeared the most rapid in 2017 when the import price increased by 29% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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