Australia: Preserved Herring Market 2024

Preserved Herring Market Size in Australia

The Australian preserved herring market expanded notably to $X in 2021, with an increase of 8.4% against the previous year. In general, consumption, however, continues to indicate a mild slump. Preserved herring consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Preserved Herring Production in Australia

In value terms, preserved herring production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced contraction. The growth pace was the most rapid in 2016 with an increase of 67% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Preserved Herring Exports

Exports from Australia

In 2021, after two years of growth, there was significant decline in overseas shipments of herrings (prepared or preserved), when their volume decreased by -5.8% to X tons. Overall, exports, however, recorded a significant increase. The growth pace was the most rapid in 2014 with an increase of 7,627%. Over the period under review, the exports reached the maximum at X tons in 2020, and then declined in the following year.

In value terms, preserved herring exports skyrocketed to $X in 2021. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 4,823%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

New Zealand (X tons) was the main destination for preserved herring exports from Australia, with a 73% share of total exports. Moreover, preserved herring exports to New Zealand exceeded the volume sent to the second major destination, the Philippines (X tons), fourfold. Nauru (X kg) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand totaled +131.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (0.0% per year) and Nauru (0.0% per year).

In value terms, New Zealand ($X) remains the key foreign market for herrings (prepared or preserved) exports from Australia, comprising 66% of total exports. The second position in the ranking was held by the Philippines ($X), with a 23% share of total exports. It was followed by Nauru, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to New Zealand amounted to +104.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (0.0% per year) and Nauru (0.0% per year).

Export Prices by Country

The average preserved herring export price stood at $X per ton in 2021, jumping by 80% against the previous year. Over the period under review, the export price, however, recorded a deep setback. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were the Philippines ($X per ton) and Nauru ($X per ton), while the average price for exports to New Zealand ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (-1.8%).

Preserved Herring Imports

Imports into Australia

In 2021, purchases abroad of herrings (prepared or preserved) decreased by -7.6% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2017 with an increase of 8.2% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved herring imports amounted to $X in 2021. Over the period under review, imports recorded a mild slump. The pace of growth appeared the most rapid in 2017 with an increase of 18% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), Canada (X tons) and Poland (X tons) were the main suppliers of preserved herring imports to Australia, with a combined 72% share of total imports. These countries were followed by Estonia, Denmark, Latvia, Sweden and the Philippines, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved herring suppliers to Australia were Germany ($X), Canada ($X) and Poland ($X), with a combined 75% share of total imports. Latvia, Estonia, Denmark, Sweden and the Philippines lagged somewhat behind, together accounting for a further 19%.

Denmark, with a CAGR of +27.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, with an increase of 9.4% against the previous year. In general, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved herring import price increased by +6.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+45.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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