Middle East: Smoked Herring Market 2024

Smoked Herring Market Size in the Middle East

The Middle Eastern smoked herring market contracted modestly to $X in 2022, stabilizing at the previous year. Overall, consumption continues to indicate a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Smoked Herring Production in the Middle East

In value terms, smoked herring production reduced to $X in 2022 estimated in export price. Overall, production showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 6.9%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Smoked Herring Exports

Exports in the Middle East

In 2022, after two years of decline, there was significant growth in overseas shipments of smoked herrings, when their volume increased by 159% to X tons. In general, exports posted significant growth. The pace of growth was the most pronounced in 2014 with an increase of 22,205%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, smoked herring exports soared to $X in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 5,825%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Jordan dominates exports structure, finishing at X tons, which was near 85% of total exports in 2022. Oman (X tons) held an 8.2% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (6.2%).

Jordan was also the fastest-growing in terms of the smoked herrings exports, with a CAGR of +95.5% from 2012 to 2022. At the same time, Oman (+55.7%) and Turkey (+4.7%) displayed positive paces of growth. While the share of Jordan (+50 p.p.) and Turkey (+6.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (-24.7 p.p.) displayed negative dynamics.

In value terms, Jordan ($X) remains the largest smoked herring supplier in the Middle East, comprising 84% of total exports. The second position in the ranking was held by Turkey ($X), with a 9.8% share of total exports.

In Jordan, smoked herring exports expanded at an average annual rate of +50.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (-2.8% per year) and Oman (+49.3% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, waning by -11.8% against the previous year. Over the period under review, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2015 an increase of 73%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (-4.2%), while the other leaders experienced a decline in the export price figures.

Smoked Herring Imports

Imports in the Middle East

Smoked herring imports fell notably to X tons in 2022, declining by -19.7% against 2021. Over the period under review, imports, however, continue to indicate a pronounced expansion. The pace of growth appeared the most rapid in 2014 with an increase of 122%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, smoked herring imports soared to $X in 2022. Overall, imports recorded a mild contraction. The pace of growth was the most pronounced in 2021 when imports increased by 64%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of smoked herring imports in 2022 were Kuwait (X tons), Bahrain (X tons), Oman (X tons), the United Arab Emirates (X tons) and Qatar (X tons), together recording 95% of total import. The following importers - Turkey (X tons) and Israel (X tons) - each accounted for a 4.1% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +37.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest smoked herring importing markets in the Middle East were Qatar ($X), Oman ($X) and Bahrain ($X), with a combined 66% share of total imports. Kuwait, the United Arab Emirates, Turkey and Israel lagged somewhat behind, together comprising a further 33%.

Turkey, with a CAGR of +32.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, jumping by 46% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+2.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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