Greece: Preserved Herring Market 2024

Preserved Herring Market Size in Greece

In 2021, after two years of growth, there was significant decline in the Greek preserved herring market, when its value decreased by -96.6% to $X. Over the period under review, consumption continues to indicate a sharp decline. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Preserved Herring Production in Greece

In value terms, preserved herring production declined slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 69% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then declined slightly in the following year.

Preserved Herring Exports

Exports from Greece

In 2021, shipments abroad of herrings (prepared or preserved) decreased by -27.6% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, saw resilient growth. The growth pace was the most rapid in 2020 when exports increased by 179%. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, preserved herring exports contracted dramatically to $X in 2021. Over the period under review, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 461%. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

Cyprus (X tons) was the main destination for preserved herring exports from Greece, accounting for a 41% share of total exports. Moreover, preserved herring exports to Cyprus exceeded the volume sent to the second major destination, Egypt (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Cyprus totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (0.0% per year) and Germany (+16.6% per year).

In value terms, Cyprus ($X) emerged as the key foreign market for herrings (prepared or preserved) exports from Greece, comprising 47% of total exports. The second position in the ranking was held by Egypt ($X), with an 18% share of total exports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Cyprus stood at +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (0.0% per year) and Germany (+17.3% per year).

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, reducing by -48.2% against the previous year. In general, the export price showed a mild shrinkage. The pace of growth appeared the most rapid in 2020 when the average export price increased by 101% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the UK ($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 Italy (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into Greece

In 2021, the amount of herrings (prepared or preserved) imported into Greece reduced to X tons, falling by -6.3% on the year before. Over the period under review, imports recorded a abrupt setback. The pace of growth appeared the most rapid in 2020 when imports increased by 23%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved herring imports reached $X in 2021. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 when imports increased by 22%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of preserved herring to Greece, accounting for a 82% share of total imports. Moreover, preserved herring imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), eightfold. Lithuania (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+34.6% per year) and Lithuania (+23.1% per year).

In value terms, Germany ($X) constituted the largest supplier of herrings (prepared or preserved) to Greece, comprising 83% of total imports. The second position in the ranking was held by Poland ($X), with an 8.2% share of total imports. It was followed by Italy, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+66.9% per year) and Italy (+39.0% per year).

Import Prices by Country

The average preserved herring import price stood at $X per ton in 2021, picking up by 7.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 29%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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