Sardines Exports in the EU Show a Sign of Recovery

IndexBox has just published a new report: 'EU - Sardines (Prepared Or Preserved) - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

The revenue of the sardines market in the European Union amounted to $708M in 2018, picking up by 6.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, sardines consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the sardines market attained its maximum level at $769M in 2009; however, from 2010 to 2018, consumption stood at a somewhat lower figure.

Consumption By Country in the EU

The countries with the highest volumes of sardines consumption in 2018 were Germany (39K tons), France (29K tons) and the UK (22K tons), with a combined 50% share of total consumption.

From 2007 to 2018, the most notable rate of growth in terms of sardines consumption, amongst the main consuming countries, was attained by France, while sardines consumption for the other leaders experienced more modest paces of growth.

In value terms, Germany ($139M), France ($117M) and Spain ($108M) were the countries with the highest levels of market value in 2018, together accounting for 51% of the total market. The UK, Poland, the Netherlands, Italy, Belgium, Portugal, Romania, Sweden and the Czech Republic lagged somewhat behind, together accounting for a further 37%.

The countries with the highest levels of sardines per capita consumption in 2018 were Belgium (592 kg per 1000 persons), the Netherlands (490 kg per 1000 persons) and Germany (473 kg per 1000 persons).

Production in the EU

In 2018, approx. 159K tons of prepared or preserved sardines were produced in the European Union, remaining stable against the previous year. In general, sardines production, however, continues to indicate a measured downturn. Over the period under review, sardines production reached its peak figure volume at 228K tons in 2008; however, from 2009 to 2018, production failed to regain its momentum.

Production By Country in the EU

The countries with the highest volumes of sardines production in 2018 were Germany (30K tons), Poland (18K tons) and Latvia (17K tons), together comprising 41% of total production. These countries were followed by Spain, Portugal, the UK, France, Estonia, the Netherlands, Croatia, Sweden and Denmark, which together accounted for a further 46%.

From 2007 to 2018, the most notable rate of growth in terms of sardines production, amongst the main producing countries, was attained by the UK, while sardines production for the other leaders experienced more modest paces of growth.

Exports in the EU

The volume of exports totaled 65K tons in 2018, surging by 13% against the previous year. This may indicate a recovery attempt starting after a deep slump in 2015 and the subsequent bottoming out over 2016-2017. That dramatic drop occurred due to ceasing supplies from Latvia and other Baltic states to Russia, which was the largest export market. However, sardines exports in Europe have yet failed to regain its former values, thereby indicating that Latvian producers haven't managed to find new markets for their products after the Russian market was closed. In value terms, sardines exports stood at $238M (IndexBox estimates) in 2018.

Exports by Country

In 2018, Latvia (17K tons), distantly followed by Portugal (10,488 tons), Poland (8,601 tons), Estonia (8,283 tons), Croatia (4,926 tons), the Netherlands (4,726 tons) and the UK (3,352 tons) represented the key exporters of sardines (prepared or preserved), together comprising 88% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the Netherlands, while exports for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($54M), Poland ($42M) and Latvia ($42M) appeared to be the countries with the highest levels of exports in 2018, together accounting for 58% of total exports. Croatia, the Netherlands, the UK and Estonia lagged somewhat behind, together comprising a further 26%.

Export Prices by Country

In 2018, the sardines export price in the European Union amounted to $3,637 per ton, coming down by -1.7% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +3.8%. The level of export price peaked at $3,700 per ton in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Portugal ($5,152 per ton), while Estonia ($715 per ton) was amongst the lowest.

Imports in the EU

In 2018, the sardines imports in the European Union totaled 87K tons, picking up by 9.1% against the previous year. Over the period under review, sardines imports, however, continue to indicate a relatively flat trend pattern. In value terms, sardines imports stood at $324M (IndexBox estimates) in 2018.

Imports by Country

In 2018, France (20K tons), distantly followed by the UK (13,133 tons), Germany (10,597 tons), the Netherlands (6,853 tons), Spain (5,775 tons), Belgium (4,931 tons) and Italy (3,964 tons) were the major importers of sardines (prepared or preserved), together making up 75% of total imports. The Czech Republic (3,646 tons), Romania (3,140 tons), Austria (2,243 tons), Ireland (1,961 tons) and Hungary (1,356 tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Ireland, while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($76M), the UK ($48M) and Germany ($44M) constituted the countries with the highest levels of imports in 2018, with a combined 52% share of total imports. These countries were followed by the Netherlands, Spain, Italy, Belgium, the Czech Republic, Austria, Romania, Hungary and Ireland, which together accounted for a further 38%.

Import Prices by Country

The sardines import price in the European Union stood at $3,707 per ton in 2018, surging by 26% against the previous year. Over the last eleven years, it increased at an average annual rate of +1.1%. The level of import price peaked at $4,147 per ton in 2013; however, from 2014 to 2018, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Spain ($4,584 per ton), while Ireland ($1,528 per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Romania, while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform