Greece: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Greece

In 2021, after three years of growth, there was decline in the Greek seafood meals and pellets market, when its value decreased by -4.2% to $X. In general, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +55.8% against 2015 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Greece

In 2021, after nine years of growth, there was significant decline in shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs, when their volume decreased by -94.2% to X tons. Overall, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2014 when exports increased by 316% against the previous year. The exports peaked at X tons in 2020, and then declined dramatically in the following year.

In value terms, seafood meals and pellets exports dropped markedly to $X in 2021. Over the period under review, exports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 109% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then fell remarkably in the following year.

Exports by Country

Cyprus (X tons) was the main destination for seafood meals and pellets exports from Greece, with a 85% share of total exports. Moreover, seafood meals and pellets exports to Cyprus exceeded the volume sent to the second major destination, Albania (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cyprus stood at +91.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+104.0% per year) and North Macedonia (-16.0% per year).

In value terms, Cyprus ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Greece, comprising 82% of total exports. The second position in the ranking was taken by Albania ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cyprus amounted to +63.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+96.5% per year) and North Macedonia (-16.3% per year).

Export Prices by Country

In 2021, the average seafood meals and pellets export price amounted to $X per ton, growing by 9% against the previous year. In general, the export price, however, continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2013 when the average export price increased by 17%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Cyprus ($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 North Macedonia (-0.4%), while the prices for the other major destinations experienced a decline.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Greece

After three years of growth, supplies from abroad of flours, meals and pellets of fish or of crustaceans and molluscs decreased by -8.3% to X tons in 2021. Overall, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +51.6% against 2015 indices. The growth pace was the most rapid in 2018 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then contracted in the following year.

In value terms, seafood meals and pellets imports reduced slightly to $X in 2021. In general, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.8% against 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 34% against the previous year. Imports peaked at $X in 2020, and then fell modestly in the following year.

Imports by Country

Morocco (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of seafood meals and pellets imports to Greece, with a combined 58% share of total imports. Denmark, South Africa, Norway, the United States, Cyprus, Italy and Ireland lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +49.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest seafood meals and pellets suppliers to Greece were Morocco ($X), Germany ($X) and Denmark ($X), together comprising 59% of total imports. Spain, South Africa, Norway, the United States, Cyprus, Italy and Ireland lagged somewhat behind, together comprising a further 33%.

The United States, with a CAGR of +52.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, increasing by 4.1% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Ireland ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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