Africa: Smoked Herring Market 2024

Smoked Herring Market Size in Africa

The African smoked herring market fell slightly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 5.5%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Smoked Herring Production in Africa

In value terms, smoked herring production reduced slightly to $X in 2022 estimated in export price. Overall, production saw a deep slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 1.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Smoked Herring Exports

Exports in Africa

In 2022, smoked herring exports in Africa contracted to X tons, falling by -7.9% compared with the previous year's figure. Over the period under review, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 93% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, smoked herring exports skyrocketed to $X in 2022. Overall, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 67%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Guinea (X tons), Egypt (X tons), Ghana (X tons) and Sierra Leone (X tons) represented the largest exporter of smoked herrings in Africa, constituting 94% of total export. The following exporters - Gambia (X tons) and Senegal (X tons) - each recorded a 5.7% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Gambia (with a CAGR of +49.1%), while the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Ghana ($X) and Sierra Leone ($X) were the countries with the highest levels of exports in 2022, together comprising 78% of total exports. Guinea, Gambia and Senegal lagged somewhat behind, together comprising a further 21%.

Among the main exporting countries, Gambia, with a CAGR of +51.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, jumping by 27% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked herring export price decreased by -17.9% against 2020 indices. The growth pace was the most rapid in 2020 an increase of 59%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+9.9%), while the other leaders experienced more modest paces of growth.

Smoked Herring Imports

Imports in Africa

In 2022, overseas purchases of smoked herrings increased by 9.6% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2013 when imports increased by 60% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, smoked herring imports surged to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 41%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Liberia (X tons) was the major importer of smoked herrings, achieving 54% of total imports. Democratic Republic of the Congo (X tons) held the second position in the ranking, followed by Egypt (X tons) and Cabo Verde (X tons). All these countries together took near 26% share of total imports. Senegal (X tons), Tunisia (X tons), Togo (X tons) and Angola (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to smoked herring imports into Liberia stood at +3.2%. At the same time, Senegal (+35.1%), Cabo Verde (+24.8%) and Angola (+7.5%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Africa, with a CAGR of +35.1% from 2012-2022. Togo and Democratic Republic of the Congo experienced a relatively flat trend pattern. By contrast, Egypt (-3.4%) and Tunisia (-7.9%) illustrated a downward trend over the same period. Liberia (+27 p.p.), Egypt (+9 p.p.), Cabo Verde (+5 p.p.), Senegal (+3.8 p.p.), Democratic Republic of the Congo (+3.5 p.p.), Togo (+3.2 p.p.) and Angola (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Tunisia saw its share reduced by -2.1% from 2012 to 2022, respectively.

In value terms, Liberia ($X) constitutes the largest market for imported smoked herrings in Africa, comprising 51% of total imports. The second position in the ranking was taken by Egypt ($X), with a 9.7% share of total imports. It was followed by Senegal, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Liberia stood at +14.2%. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (-14.8% per year) and Senegal (+33.5% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, rising by 5.5% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked herring import price increased by +26.3% against 2020 indices. The pace of growth appeared the most rapid in 2015 an increase of 25% against the previous year. The level of import peaked at $X per ton in 2019; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Togo ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (+10.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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