Shrimp Price in Oman - 2021
Contents:
- Shrimp Price in Oman (CIF) - 2022
- Shrimp Price in Oman (FOB) - 2022
- Shrimp Imports in Oman
- Shrimp Exports in Oman
Shrimp Price in Oman (CIF) - 2022
In 2022, the average shrimp import price amounted to $4,611 per ton, declining by -1.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 14%. Over the period under review, average import prices reached the maximum at $5,958 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
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 Vietnam ($6,633 per ton), while the price for Iran ($3,349 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Oman (FOB) - 2022
In 2022, the average shrimp export price amounted to $2,818 per ton, declining by -24.9% against the previous year. Overall, the export price showed a deep slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 90%. The export price peaked at $6,739 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($12,099 per ton), while the average price for exports to the United Arab Emirates ($580 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 Qatar (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Oman
For the fourth year in a row, Oman recorded growth in supplies from abroad of shrimps, which increased by 4.4% to 4.1K tons in 2022. The total import volume increased at an average annual rate of +3.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, shrimp imports expanded slightly to $19M in 2022. The total import value increased at an average annual rate of +6.2% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2020 with an increase of 12%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.
| Import of Shrimp in Oman (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 7.2 | 8.6 | 6.8 | 7.2 | 0.0% |
| Iran | 2.7 | 3.0 | 6.4 | 6.2 | 31.9% |
| India | 4.8 | 4.6 | 4.7 | 4.5 | -2.1% |
| Vietnam | 0.8 | 1.1 | 0.2 | 0.7 | -4.4% |
| Others | 0.5 | 0.5 | 0.5 | 0.5 | 0.0% |
| Total | 15.9 | 17.8 | 18.6 | 19.0 | 6.1% |
Top Suppliers of Shrimp to Oman in 2022:
- Iran (1842.7 tons)
- United Arab Emirates (1170.1 tons)
- India (930.7 tons)
- Vietnam (102.3 tons)
Shrimp Exports in Oman
Shrimp exports from Oman skyrocketed to 853 tons in 2022, rising by 46% on the previous year's figure. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 62%. The exports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, shrimp exports rose rapidly to $2.4M in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 187% against the previous year. As a result, the exports reached the peak of $2.5M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Shrimp in Oman (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Egypt | 437 | 446 | 587 | 1,372 | 46.4% |
| Qatar | 174 | 116 | 292 | 681 | 57.6% |
| United Arab Emirates | 192 | 4.8 | 150 | 351 | 22.3% |
| Malaysia | 80.1 | N/A | N/A | N/A | 0% |
| Saudi Arabia | N/A | 1,930 | 944 | N/A | -51.1% |
| India | N/A | 26.4 | 65.3 | N/A | 147.3% |
| Turkey | N/A | 12.0 | 151 | N/A | 1158.3% |
| Others | 0.2 | N/A | 1.6 | N/A | 182.8% |
| Total | 883 | 2,536 | 2,191 | 2,405 | 39.7% |
Top Export Markets for Shrimp from Oman in 2022:
- United Arab Emirates (605.4 tons)
- Egypt (191.7 tons)
- Qatar (56.3 tons)
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