Eastern Europe: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in Eastern Europe

In 2022, the East European market for cod, salted or in brine decreased by -28.9% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a deep contraction. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Cod, Salted or in Brine in Eastern Europe

In value terms, cod, salted or in brine production declined to $X in 2022 estimated in export price. Overall, production saw a mild contraction. The most prominent rate of growth was recorded in 2016 with an increase of 89% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Cod, Salted or in Brine

Exports in Eastern Europe

In 2022, shipments abroad of cod, salted or in brine decreased by -38.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2021 when exports increased by 353% against the previous year. As a result, the exports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, cod, salted or in brine exports contracted significantly to $X in 2022. In general, exports recorded a slight downturn. The growth pace was the most rapid in 2021 with an increase of 374% against the previous year. As a result, the exports attained the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Russia was the key exporter of cod, salted or in brine in Eastern Europe, with the volume of exports amounting to X tons, which was approx. 64% of total exports in 2022. Ukraine (X tons) ranks second in terms of the total exports with a 30% share, followed by Latvia (6.2%).

Exports from Russia decreased at an average annual rate of -7.4% from 2012 to 2022. At the same time, Ukraine (+27.2%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +27.2% from 2012-2022. By contrast, Latvia (-50.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ukraine and Latvia increased by +28 and +6.2 percentage points, respectively.

In value terms, Russia ($X) remains the largest cod, salted or in brine supplier in Eastern Europe, comprising 69% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 29% share of total exports.

In Russia, cod, salted or in brine exports contracted by an average annual rate of -4.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ukraine (+30.9% per year) and Latvia (-50.0% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2014 an increase of 20% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+3.0%).

Imports of Cod, Salted or in Brine

Imports in Eastern Europe

In 2022, overseas purchases of cod, salted or in brine decreased by 0% to X kg, falling for the fifth year in a row after two years of growth. Overall, imports continue to indicate a sharp downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 2,136,505%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cod, salted or in brine imports totaled $X in 2022. In general, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 525,615%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Lithuania (X kg), distantly followed by the Czech Republic (X kg) were the key importers of cod, salted or in brine, together generating 100% of total imports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of -37.0%).

In value terms, the largest cod, salted or in brine importing markets in Eastern Europe were the Czech Republic ($X) and Lithuania ($X).

Lithuania, with a CAGR of -30.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, approximately reflecting the previous year. Overall, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2014 an increase of 271% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, 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 the Czech Republic ($X per ton), while Lithuania amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+50.3%).

Source: IndexBox Platform

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