CIS: Preserved Herring Market 2024

Preserved Herring Market Size in CIS

In 2021, the CIS preserved herring market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Preserved Herring Production in CIS

In value terms, preserved herring production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 21% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Preserved Herring Exports

Exports in CIS

For the sixth consecutive year, the CIS recorded growth in overseas shipments of herrings (prepared or preserved), which increased by 16% to X tons in 2021. In general, exports showed strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 28% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, preserved herring exports soared to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +140.4% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belarus prevails in exports structure, amounting to X tons, which was near 92% of total exports in 2021. It was distantly followed by Russia (X tons), achieving an 8.2% share of total exports.

Belarus was also the fastest-growing in terms of the herrings (prepared or preserved) exports, with a CAGR of +12.3% from 2012 to 2021. At the same time, Russia (+7.9%) displayed positive paces of growth. Belarus (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -3.1% from 2012 to 2021, respectively.

In value terms, Belarus ($X) remains the largest preserved herring supplier in the CIS, comprising 93% of total exports. The second position in the ranking was held by Russia ($X), with a 6.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Belarus amounted to +8.8%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, growing by 9.4% against the previous year. Overall, the export price, however, saw a noticeable reduction. The growth pace was the most rapid in 2017 when the export price increased by 13%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-2.9%).

Preserved Herring Imports

Imports in CIS

For the fourth year in a row, the CIS recorded growth in supplies from abroad of herrings (prepared or preserved), which increased by 9.9% to X tons in 2021. In general, imports posted a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 35%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, preserved herring imports soared to $X in 2021. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 45% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

Russia prevails in imports structure, reaching X tons, which was approx. 90% of total imports in 2021. The following importers - Kazakhstan (X tons) and Belarus (X tons) - each amounted to a 6% share of total imports.

Russia was also the fastest-growing in terms of the herrings (prepared or preserved) imports, with a CAGR of +17.5% from 2012 to 2021. At the same time, Belarus (+8.0%) and Kazakhstan (+5.3%) displayed positive paces of growth. From 2012 to 2021, the share of Russia increased by +11 percentage points.

In value terms, Russia ($X) constitutes the largest market for imported herrings (prepared or preserved) in the CIS, comprising 90% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 3.7% share of total imports.

In Russia, preserved herring imports expanded at an average annual rate of +13.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kazakhstan (+8.0% per year) and Belarus (+4.1% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, picking up by 11% against the previous year. Overall, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2017 when the import price increased by 19%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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