Eastern Europe: Preserved Herring Market 2024

Preserved Herring Market Size in Eastern Europe

In 2021, the East European preserved herring market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Preserved Herring Production in Eastern Europe

In value terms, preserved herring production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 13%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Preserved Herring Exports

Exports in Eastern Europe

After three years of growth, overseas shipments of herrings (prepared or preserved) decreased by -3% to X tons in 2021. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 13%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, preserved herring exports expanded rapidly to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 11% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Poland (X tons) was the key exporter of herrings (prepared or preserved), making up 52% of total exports. It was distantly followed by Belarus (X tons) and Lithuania (X tons), together achieving a 40% share of total exports. The following exporters - Latvia (X tons) and Russia (X tons) - each resulted at a 6.1% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Belarus (with a CAGR of +12.3%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Belarus ($X) and Lithuania ($X) were the countries with the highest levels of exports in 2021, together accounting for 93% of total exports.

Belarus, with a CAGR of +8.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, with an increase of 8.9% against the previous year. Overall, the export price, however, recorded a slight downturn. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+5.8%), while the other leaders experienced mixed trends in the export price figures.

Preserved Herring Imports

Imports in Eastern Europe

In 2021, purchases abroad of herrings (prepared or preserved) increased by 7% to X tons, rising for the fourth year in a row after two years of decline. The total import volume increased at an average annual rate of +5.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 15%. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, preserved herring imports surged to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons) and Poland (X tons) prevails in imports structure, together making up 73% of total imports. It was distantly followed by Romania (X tons), comprising a 5.3% share of total imports. Ukraine (X tons), the Czech Republic (X tons), Estonia (X tons), Slovakia (X tons), Latvia (X tons), Hungary (X tons) and Lithuania (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Russia (with a CAGR of +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and Romania ($X) were the countries with the highest levels of imports in 2021, with a combined 78% share of total imports.

Romania, with a CAGR of +14.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, picking up by 7.9% against the previous year. In general, the import price, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2016 when the import price increased by 16% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Romania ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+0.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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