Portugal: Preserved Herring Market 2024

Preserved Herring Market Size in Portugal

The Portuguese preserved herring market stood at $X in 2021, approximately reflecting the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Preserved Herring Production in Portugal

In value terms, preserved herring production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 32%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Preserved Herring Exports

Exports from Portugal

In 2021, the amount of herrings (prepared or preserved) exported from Portugal declined remarkably to X tons, falling by -23.2% against 2020. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 467%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved herring exports dropped remarkably to $X in 2021. Overall, exports, however, saw a tangible increase. The pace of growth appeared the most rapid in 2013 with an increase of 553% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Slovakia (X kg) was the main destination for preserved herring exports from Portugal, with a 49% share of total exports. Moreover, preserved herring exports to Slovakia exceeded the volume sent to the second major destination, Switzerland (X kg), twofold. The third position in this ranking was held by France (X kg), with a 21% share.

From 2012 to 2021, the average annual growth rate of volume to Slovakia totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+128.2% per year) and France (+14.6% per year).

In value terms, Slovakia ($X) emerged as the key foreign market for herrings (prepared or preserved) exports from Portugal, comprising 46% of total exports. The second position in the ranking was held by Switzerland ($X), with a 23% share of total exports. It was followed by France, with a 22% share.

From 2012 to 2021, the average annual growth rate of value to Slovakia stood at +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+100.7% per year) and France (+18.5% per year).

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, dropping by -14.8% against the previous year. Over the period under review, the export price, however, recorded a mild expansion. The pace of growth was the most pronounced in 2014 an increase of 110% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Slovakia ($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 the UK (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into Portugal

Preserved herring imports into Portugal shrank dramatically to X tons in 2021, waning by -17.3% on the previous year. In general, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2014 with an increase of 143% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved herring imports totaled $X in 2021. Over the period under review, imports showed a abrupt setback. The growth pace was the most rapid in 2014 with an increase of 137% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest preserved herring supplier to Portugal, with a 87% share of total imports. Moreover, preserved herring imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to -3.4%.

In value terms, Germany ($X) constituted the largest supplier of herrings (prepared or preserved) to Portugal, comprising 88% of total imports. The second position in the ranking was taken by Spain ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Germany totaled -3.9%.

Import Prices by Country

The average preserved herring import price stood at $X per ton in 2021, rising by 21% against the previous year. Over the period under review, the import price, however, recorded a slight decrease. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-0.5%).

Source: IndexBox Platform

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