Luxembourg: Preserved Herring Market 2024

Preserved Herring Market Size in Luxembourg

After five years of growth, the Luxembourg preserved herring market decreased by -1.7% to $X in 2021. Overall, consumption showed a strong increase. Over the period under review, the market hit record highs at $X in 2020, and then declined modestly in the following year.

Preserved Herring Production in Luxembourg

In value terms, preserved herring production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production posted a significant increase. The growth pace was the most rapid in 2017 with an increase of 72%. Preserved herring production peaked at $X in 2020, and then declined modestly in the following year.

Preserved Herring Exports

Exports from Luxembourg

In 2021, shipments abroad of herrings (prepared or preserved) was finally on the rise to reach X tons for the first time since 2015, thus ending a five-year declining trend. In general, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, preserved herring exports fell rapidly to $X in 2021. Overall, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 with an increase of 8.7% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X kg), Germany (X kg) and France (X kg) were the main destinations of preserved herring exports from Luxembourg, together accounting for 99% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +0.4%), while the other leaders experienced a decline.

In value terms, Belgium ($X) remains the key foreign market for herrings (prepared or preserved) exports from Luxembourg, comprising 60% of total exports. The second position in the ranking was taken by Germany ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Belgium stood at -10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.4% per year) and France (-5.3% per year).

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, dropping by -39.1% against the previous year. Over the period under review, the export price, however, recorded a strong increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 49%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then plummeted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Germany ($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 Belgium (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into Luxembourg

In 2021, purchases abroad of herrings (prepared or preserved) increased by 2.2% to X tons, rising for the fourth year in a row after two years of decline. In general, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by 16%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved herring imports expanded rapidly to $X in 2021. Overall, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 15%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of preserved herring to Luxembourg, accounting for a 49% share of total imports. Moreover, preserved herring imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. France (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-10.5% per year) and France (+6.2% per year).

In value terms, the largest preserved herring suppliers to Luxembourg were Belgium ($X), Germany ($X) and France ($X), together comprising 92% of total imports.

Among the main suppliers, France, with a CAGR of +7.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, growing by 2.8% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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