Middle East: Preserved Herring Market 2024

Preserved Herring Market Size in the Middle East

The Middle Eastern preserved herring market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.4% against 2018 indices. The level of consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Preserved Herring Production in the Middle East

In value terms, preserved herring production stood at $X in 2021 estimated in export price. The total production indicated a resilient expansion 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 -2.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 34%. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2021.

Preserved Herring Exports

Exports in the Middle East

Preserved herring exports expanded notably to X tons in 2021, picking up by 15% on the previous year. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 343%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, preserved herring exports dropped slightly to $X in 2021. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 358% against the previous year. As a result, the exports attained the peak of $X, and then dropped slightly in the following year.

Exports by Country

Turkey represented the main exporting country with an export of about X tons, which finished at 65% of total exports. It was distantly followed by Saudi Arabia (X tons) and Israel (X tons), together committing a 31% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the herrings (prepared or preserved) exports, with a CAGR of +116.8% from 2012 to 2021. At the same time, Saudi Arabia (+28.1%) and Israel (+11.3%) displayed positive paces of growth. By contrast, the United Arab Emirates (-6.6%) illustrated a downward trend over the same period. While the share of Turkey (+65 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Israel (-12.1 p.p.) and the United Arab Emirates (-50.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest preserved herring supplier in the Middle East, comprising 71% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 16% share of total exports. It was followed by Israel, with a 9.9% share.

In Turkey, preserved herring exports increased at an average annual rate of +136.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+32.9% per year) and Israel (+12.8% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, dropping by -16.5% against the previous year. Overall, the export price continues to indicate a noticeable downturn. The pace of growth was the most pronounced in 2019 an increase of 39% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+9.3%), while the other leaders experienced more modest paces of growth.

Preserved Herring Imports

Imports in the Middle East

In 2021, purchases abroad of herrings (prepared or preserved) increased by 84% to X tons, rising for the second year in a row after two years of decline. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 127%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, preserved herring imports skyrocketed to $X in 2021. Overall, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 105%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Israel prevails in imports structure, finishing at X tons, which was near 85% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), generating a 6.9% share of total imports. The following importers - Yemen (X tons) and Kuwait (X tons) - each reached a 4.4% share of total imports.

Israel was also the fastest-growing in terms of the herrings (prepared or preserved) imports, with a CAGR of +27.3% from 2012 to 2021. At the same time, Kuwait (+13.4%) displayed positive paces of growth. Yemen experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-4.8%) illustrated a downward trend over the same period. While the share of Israel (+66 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Yemen (-2.4 p.p.) and the United Arab Emirates (-14.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported herrings (prepared or preserved) in the Middle East, comprising 85% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.1% share of total imports. It was followed by Kuwait, with a 1.3% share.

In Israel, preserved herring imports expanded at an average annual rate of +25.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-7.1% per year) and Kuwait (+5.0% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, picking up by 6.2% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2014 when the import price increased by 17% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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