Africa: Preserved Herring Market 2024

Preserved Herring Market Size in Africa

The African preserved herring market expanded to $X in 2021, increasing by 1.8% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.8% against 2019 indices. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Preserved Herring Production in Africa

In value terms, preserved herring production totaled $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.6% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 32% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Preserved Herring Exports

Exports in Africa

For the third consecutive year, Africa recorded growth in overseas shipments of herrings (prepared or preserved), which increased by 13% to X tons in 2021. In general, exports showed a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 72%. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, preserved herring exports skyrocketed to $X in 2021. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 77%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Namibia dominates exports structure, recording X tons, which was approx. 94% of total exports in 2021. It was distantly followed by South Africa (X tons), creating a 5.2% share of total exports.

Namibia was also the fastest-growing in terms of the herrings (prepared or preserved) exports, with a CAGR of +39.0% from 2012 to 2021. South Africa (-11.5%) illustrated a downward trend over the same period. While the share of Namibia (+75 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-55.2 p.p.) displayed negative dynamics.

In value terms, Namibia ($X) remains the largest preserved herring supplier in Africa, comprising 97% of total exports. The second position in the ranking was held by South Africa ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Namibia stood at +51.4%.

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, picking up by 4.1% against the previous year. Over the period under review, the export price enjoyed a prominent increase. The pace of growth appeared the most rapid in 2014 when the export price increased by 43% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Namibia ($X per ton), while South Africa amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+8.9%).

Preserved Herring Imports

Imports in Africa

After four years of decline, supplies from abroad of herrings (prepared or preserved) increased by 49% to X tons in 2021. Over the period under review, imports, however, showed a mild decrease. The pace of growth was the most pronounced in 2015 when imports increased by 54%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, preserved herring imports soared to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 51% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The countries with the highest levels of preserved herring imports in 2021 were Libya (X tons), Somalia (X tons) and Cameroon (X tons), together accounting for 62% of total import. South Africa (X tons) ranks next in terms of the total imports with an 11% share, followed by Egypt (8%). Namibia (X tons) and Swaziland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cameroon (with a CAGR of +75.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Libya ($X) constitutes the largest market for imported herrings (prepared or preserved) in Africa, comprising 37% of total imports. The second position in the ranking was taken by South Africa ($X), with an 18% share of total imports. It was followed by Cameroon, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Libya totaled +3.1%. In the other countries, the average annual rates were as follows: South Africa (+14.0% per year) and Cameroon (+57.8% per year).

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, waning by -3.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2013 an increase of 25% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Libya (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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