Greece: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Greece

The Greek preserved anchovies market expanded sharply to $X in 2021, growing by 8.5% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in years to come.

Preserved Anchovies Production in Greece

In value terms, preserved anchovies production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 19%. Preserved anchovies production peaked in 2021 and is expected to retain growth in the near future.

Preserved Anchovies Exports

Exports from Greece

After two years of growth, overseas shipments of anchovies (prepared or preserved) decreased by -9.6% to X tons in 2021. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 190% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved anchovies exports stood at $X in 2021. Overall, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 90% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for preserved anchovies exports from Greece, with a 36% share of total exports. Moreover, preserved anchovies exports to Romania exceeded the volume sent to the second major destination, Belgium (X tons), threefold. Poland (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Romania stood at +41.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+26.3% per year) and Poland (+16.0% per year).

In value terms, Romania ($X) remains the key foreign market for anchovies (prepared or preserved) exports from Greece, comprising 38% of total exports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total exports. It was followed by the Netherlands, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Romania stood at +45.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+30.6% per year) and the Netherlands (+17.6% per year).

Export Prices by Country

The average preserved anchovies export price stood at $X per ton in 2021, picking up by 17% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Greece

In 2021, approx. X tons of anchovies (prepared or preserved) were imported into Greece; with an increase of 74% on 2020 figures. Over the period under review, imports, however, recorded a deep contraction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved anchovies imports soared to $X in 2021. Overall, imports, however, recorded a abrupt decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) was the main preserved anchovies supplier to Greece, accounting for a 92% share of total imports. Moreover, preserved anchovies imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy amounted to -5.4%.

In value terms, Italy ($X) constituted the largest supplier of anchovies (prepared or preserved) to Greece, comprising 94% of total imports. The second position in the ranking was held by Spain ($X), with a 5.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled -2.2%.

Import Prices by Country

In 2021, the average preserved anchovies import price amounted to $X per ton, with an increase of 32% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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