Hungary: Preserved Herring Market 2024

Preserved Herring Market Size in Hungary

The Hungarian preserved herring market expanded rapidly to $X in 2021, surging by 5.1% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.3% against 2019 indices. Preserved herring consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Preserved Herring Production in Hungary

In value terms, preserved herring production reached $X in 2021 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.5% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 29% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Herring Exports

Exports from Hungary

For the fifth consecutive year, Hungary recorded growth in overseas shipments of herrings (prepared or preserved), which increased by 30% to X tons in 2021. Overall, exports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 221% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved herring exports skyrocketed to $X in 2021. In general, exports, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2015 when exports increased by 174%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for preserved herring exports from Hungary, accounting for a 67% share of total exports. Moreover, preserved herring exports to Romania exceeded the volume sent to the second major destination, Serbia (X tons), sixfold. Slovakia (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to Romania stood at -15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-12.4% per year) and Slovakia (-2.5% per year).

In value terms, Romania ($X) remains the key foreign market for herrings (prepared or preserved) exports from Hungary, comprising 66% of total exports. The second position in the ranking was taken by Serbia ($X), with a 16% share of total exports. It was followed by Slovakia, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania stood at -14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-22.4% per year) and Slovakia (-4.8% per year).

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, declining by -1.9% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 54%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Slovenia ($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 Slovenia (+5.1%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Herring Imports

Imports into Hungary

In 2021, supplies from abroad of herrings (prepared or preserved) decreased by -1.8% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports showed a mild descent. The pace of growth appeared the most rapid in 2017 with an increase of 12% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved herring imports rose significantly to $X in 2021. Overall, imports recorded a slight reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 9.1%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Poland (X tons) constituted the largest supplier of preserved herring to Hungary, with a 69% share of total imports. Moreover, preserved herring imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Lithuania (X tons), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.8% per year) and Lithuania (+8.3% per year).

In value terms, Poland ($X) constituted the largest supplier of herrings (prepared or preserved) to Hungary, comprising 62% of total imports. The second position in the ranking was held by Germany ($X), with a 30% share of total imports. It was followed by Slovakia, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from Poland amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.1% per year) and Slovakia (+15.5% per year).

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, rising by 7.4% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 9.1%. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Slovakia ($X per ton) and Germany ($X per ton), while the price for Poland ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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