South Africa: Preserved Herring Market 2024

Preserved Herring Market Size in South Africa

The South African preserved herring market was estimated at $X in 2021, picking up by 13% against the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.4% against 2019 indices. Preserved herring consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Preserved Herring Production in South Africa

In value terms, preserved herring production surged to $X in 2021 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 -12.4% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 52%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Preserved Herring Exports

Exports from South Africa

In 2021, the amount of herrings (prepared or preserved) exported from South Africa shrank significantly to X tons, which is down by -44.2% on 2020 figures. In general, exports recorded a abrupt setback. The growth pace was the most rapid in 2020 with an increase of 120% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved herring exports shrank rapidly to $X in 2021. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 74% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Somalia (X tons) was the main destination for preserved herring exports from South Africa, with a 55% share of total exports. Moreover, preserved herring exports to Somalia exceeded the volume sent to the second major destination, Yemen (X tons), threefold. The third position in this ranking was held by Zimbabwe (X tons), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume to Somalia amounted to +61.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-2.1% per year) and Zimbabwe (+5.4% per year).

In value terms, Somalia ($X) emerged as the key foreign market for herrings (prepared or preserved) exports from South Africa, comprising 39% of total exports. The second position in the ranking was taken by Swaziland ($X), with a 15% share of total exports. It was followed by Yemen, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Somalia stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Swaziland (-25.9% per year) and Yemen (-13.8% per year).

Export Prices by Country

The average preserved herring export price stood at $X per ton in 2021, rising by 18% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 83% 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 Swaziland ($X per ton), while the average price for exports to Yemen ($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 Lesotho (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into South Africa

In 2021, imports of herrings (prepared or preserved) into South Africa soared to X tons, growing by 117% compared with the previous year. In general, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2013 when imports increased by 200% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, preserved herring imports surged to $X in 2021. Overall, imports posted a strong expansion. The growth pace was the most rapid in 2013 when imports increased by 483%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Poland (X tons), Germany (X tons) and Sweden (X kg) were the main suppliers of preserved herring imports to South Africa, with a combined 100% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of -0.7%), while purchases for the other leaders experienced a decline.

In value terms, Poland ($X) constituted the largest supplier of herrings (prepared or preserved) to South Africa, comprising 76% of total imports. The second position in the ranking was taken by Germany ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Poland totaled -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.6% per year) and Sweden (-36.7% per year).

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, picking up by 12% against the previous year. In general, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.2% 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 import price increased by +43.5% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 94% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+48.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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