Eastern Europe: Smoked Herring Market 2024

Smoked Herring Market Size in Eastern Europe

The East European smoked herring market declined to $X in 2022, with a decrease of -8.2% against the previous year. In general, consumption showed a abrupt descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Smoked Herring Production in Eastern Europe

In value terms, smoked herring production contracted modestly to $X in 2022 estimated in export price. Overall, production faced a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 7.1%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Smoked Herring Exports

Exports in Eastern Europe

After five years of growth, shipments abroad of smoked herrings decreased by -12.7% to X tons in 2022. In general, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 41% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, smoked herring exports shrank to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.1% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 43%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belarus was the major exporting country with an export of about X tons, which amounted to 69% of total exports. It was distantly followed by Lithuania (X tons), Russia (X tons) and Poland (X tons), together committing a 29% share of total exports. Romania (X tons) took a little share of total exports.

Belarus was also the fastest-growing in terms of the smoked herrings exports, with a CAGR of +87.5% from 2012 to 2022. At the same time, Russia (+44.7%) displayed positive paces of growth. By contrast, Lithuania (-1.8%), Romania (-2.2%) and Poland (-5.5%) illustrated a downward trend over the same period. While the share of Belarus (+69 p.p.) and Russia (+5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Romania (-4 p.p.), Poland (-20.2 p.p.) and Lithuania (-43.7 p.p.) displayed negative dynamics.

In value terms, Belarus ($X), Lithuania ($X) and Poland ($X) were the countries with the highest levels of exports in 2022, together comprising 94% of total exports.

Belarus, with a CAGR of +79.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, reducing by -1.6% against the previous year. Over the period under review, the export price saw a abrupt decrease. The pace of growth was the most pronounced in 2013 when the export price increased by 8%. As a result, the export price attained the peak level of $X per ton. From 2014 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 Lithuania ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+0.1%), while the other leaders experienced a decline in the export price figures.

Smoked Herring Imports

Imports in Eastern Europe

In 2022, overseas purchases of smoked herrings decreased by -5% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 35%. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank in the following year.

In value terms, smoked herring imports dropped to $X in 2022. Overall, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 when imports increased by 24% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

The countries with the highest levels of smoked herring imports in 2022 were Russia (X tons), together accounting for 97% of total import.

Russia was also the fastest-growing in terms of the smoked herrings imports, with a CAGR of +8.7% from 2012 to 2022. From 2012 to 2022, the share of Russia increased by +54 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported smoked herrings in Eastern Europe.

In Russia, smoked herring imports expanded at an average annual rate of +18.0% over the period from 2012-2022.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, remaining constant against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked herring import price decreased by -18.7% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the import price increased by 33%. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +8.5% per year.

Source: IndexBox Platform

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