Greece: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in Greece

In 2022, the Greek market for cod, salted or in brine increased by 2% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption recorded a deep contraction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Cod, Salted or in Brine in Greece

In value terms, cod, salted or in brine production contracted to $X in 2022 estimated in export price. Overall, production recorded a deep slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 46% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Cod, Salted or in Brine

Exports from Greece

In 2022, shipments abroad of cod, salted or in brine decreased by -21.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,437% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cod, salted or in brine exports shrank slightly to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 1,139% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Cyprus (X tons), Germany (X tons) and Australia (X tons) were the main destinations of cod, salted or in brine exports from Greece, together accounting for 92% of total exports.

From 2012 to 2022, the biggest increases were recorded for Cyprus (with a CAGR of +50.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Germany ($X) and Australia ($X) were the largest markets for cod, salted or in brine exported from Greece worldwide, with a combined 90% share of total exports.

Cyprus, with a CAGR of +61.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, surging by 26% against the previous year. Overall, the export price, however, saw a mild descent. The most prominent rate of growth was recorded in 2019 an increase of 53%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Cyprus ($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 Spain (+46.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cod, Salted or in Brine

Imports into Greece

Cod, salted or in brine imports into Greece contracted modestly to X tons in 2022, flattening at the previous year. In general, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2013 when imports increased by 33% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cod, salted or in brine imports rose to $X in 2022. Over the period under review, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2013 with an increase of 26%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest cod, salted or in brine supplier to Greece, with a 65% share of total imports. Moreover, cod, salted or in brine imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.3% per year) and the Netherlands (-17.3% per year).

In value terms, Sweden ($X) constituted the largest supplier of cod, salted or in brine to Greece, comprising 61% of total imports. The second position in the ranking was taken by Germany ($X), with a 25% share of total imports. It was followed by the Netherlands, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden totaled -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.0% per year) and the Netherlands (-16.5% per year).

Import Prices by Country

The average import price for cod, salted or in brine stood at $X per ton in 2022, growing by 3.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 8.7%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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