SADC: Preserved Herring Market 2024

Preserved Herring Market Size in SADC

In 2021, after two years of growth, there was significant decline in the SADC preserved herring market, when its value decreased by -7.2% to $X. The market value increased at an average annual rate of +5.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then dropped in the following year.

Preserved Herring Production in SADC

In value terms, preserved herring production shrank to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +9.9% against 2018 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 31%. The level of production peaked at $X in 2020, and then dropped in the following year.

Preserved Herring Exports

Exports in SADC

For the seventh year in a row, SADC recorded growth in overseas shipments of herrings (prepared or preserved), which increased by 13% to X tons in 2021. In general, exports showed resilient growth. The growth pace was the most rapid in 2016 when exports increased by 68% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, preserved herring exports soared to $X in 2021. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2016 when exports increased by 101% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

Namibia prevails in exports structure, resulting at X tons, which was near 95% of total exports in 2021. It was distantly followed by South Africa (X tons), constituting a 5.3% share of total exports.

Namibia was also the fastest-growing in terms of the herrings (prepared or preserved) exports, with a CAGR of +39.0% from 2012 to 2021. South Africa (-11.5%) illustrated a downward trend over the same period. While the share of Namibia (+71 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-71.1 p.p.) displayed negative dynamics.

In value terms, Namibia ($X) remains the largest preserved herring supplier in SADC, comprising 98% of total exports. The second position in the ranking was taken by South Africa ($X), with a 2.4% share of total exports.

In Namibia, preserved herring exports increased at an average annual rate of +51.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, increasing by 4% against the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved herring export price decreased by -1.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the export price increased by 43% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 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 Namibia ($X per ton), while South Africa totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+8.9%).

Preserved Herring Imports

Imports in SADC

After five years of decline, purchases abroad of herrings (prepared or preserved) increased by 86% to X tons in 2021. In general, imports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of 91% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved herring imports surged to $X in 2021. Overall, imports, however, showed a abrupt decline. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons) represented the major importer of herrings (prepared or preserved), making up 46% of total imports. Namibia (X tons) took the second position in the ranking, followed by Swaziland (X tons), Mozambique (X tons), Lesotho (X tons) and Angola (X tons). All these countries together held approx. 48% share of total imports. Zambia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to preserved herring imports into South Africa stood at +6.4%. At the same time, Mozambique (+60.4%), Angola (+30.9%), Zambia (+9.3%) and Namibia (+2.4%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +60.4% from 2012-2021. By contrast, Swaziland (-16.5%) and Lesotho (-27.5%) illustrated a downward trend over the same period. South Africa (+35 p.p.), Namibia (+11 p.p.), Mozambique (+9.2 p.p.), Angola (+4.7 p.p.) and Zambia (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Swaziland and Lesotho saw its share reduced by -13.3% and -47.4% from 2012 to 2021, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported herrings (prepared or preserved) in SADC, comprising 58% of total imports. The second position in the ranking was taken by Namibia ($X), with a 15% share of total imports. It was followed by Swaziland, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa amounted to +14.0%. The remaining importing countries recorded the following average annual rates of imports growth: Namibia (+4.5% per year) and Swaziland (-17.6% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, picking up by 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2017 when the import price increased by 23%. The level of import peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform