Denmark: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in Denmark

After four years of growth, the Danish market for cod, salted or in brine decreased by -85.1% to $X in 2022. Overall, consumption saw a drastic downturn. As a result, consumption reached the peak level of $X, and then contracted markedly in the following year.

Production of Cod, Salted or in Brine in Denmark

In value terms, cod, salted or in brine production dropped rapidly to $X in 2022 estimated in export price. Overall, production recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 417%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Cod, Salted or in Brine

Exports from Denmark

In 2022, the amount of cod, salted or in brine exported from Denmark contracted remarkably to X tons, with a decrease of -70.2% on the previous year. Overall, exports showed a noticeable decline. The growth pace was the most rapid in 2020 with an increase of 110% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, cod, salted or in brine exports declined remarkably to $X in 2022. In general, exports recorded a noticeable curtailment. The growth pace was the most rapid in 2020 when exports increased by 118% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Spain (X tons), Greece (X tons) and Portugal (X tons) were the main destinations of cod, salted or in brine exports from Denmark, together accounting for 41% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +77.1%), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Portugal ($X) and Spain ($X) appeared to be the largest markets for cod, salted or in brine exported from Denmark worldwide, together comprising 42% of total exports.

Among the main countries of destination, Greece, with a CAGR of +95.6%, recorded the highest rates of growth with regard to 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 average export price for cod, salted or in brine amounted to $X per ton, with an increase of 6.7% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 17%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cod, Salted or in Brine

Imports into Denmark

In 2022, overseas purchases of cod, salted or in brine decreased by -79.1% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a noticeable downturn. The growth pace was the most rapid in 2020 when imports increased by 180% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cod, salted or in brine imports fell notably to $X in 2022. Over the period under review, imports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2020 with an increase of 224% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Greenland (X tons) constituted the largest cod, salted or in brine supplier to Denmark, with a 70% share of total imports. Moreover, cod, salted or in brine imports from Greenland exceeded the figures recorded by the second-largest supplier, Faroe Islands (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greenland amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Faroe Islands (-13.2% per year) and Ukraine (-9.4% per year).

In value terms, Greenland ($X) constituted the largest supplier of cod, salted or in brine to Denmark, comprising 73% of total imports. The second position in the ranking was taken by Faroe Islands ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Greenland amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Faroe Islands (-15.9% per year) and Ukraine (-6.6% per year).

Import Prices by Country

The average import price for cod, salted or in brine stood at $X per ton in 2022, falling by -14.3% against the previous year. In general, the import price saw a slight reduction. The most prominent rate of growth was recorded in 2019 an increase of 17%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Greenland ($X per ton), while the price for Faroe Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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