South-Eastern Asia: Preserved Herring Market 2024

Preserved Herring Market Size in South-Eastern Asia

The Southeast Asian preserved herring market reduced to $X in 2021, dropping by -4.8% against the previous year. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.6% 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 increased by +48.4% against 2016 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced in the following year.

Preserved Herring Production in South-Eastern Asia

In value terms, preserved herring production contracted to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.3% 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 +60.3% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 27% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

Preserved Herring Exports

Exports in South-Eastern Asia

Preserved herring exports fell dramatically to X tons in 2021, shrinking by -19.3% on 2020 figures. In general, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2016 with an increase of 179% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved herring exports reduced rapidly to $X in 2021. Over the period under review, exports saw a deep setback. The pace of growth was the most pronounced in 2016 with an increase of 140% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam represented the major exporter of herrings (prepared or preserved) in South-Eastern Asia, with the volume of exports reaching X tons, which was near 60% of total exports in 2021. It was distantly followed by Thailand (X tons) and the Philippines (X tons), together constituting a 37% share of total exports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +15.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and the Philippines ($X) were the countries with the highest levels of exports in 2021, with a combined 94% share of total exports. These countries were followed by Myanmar, which accounted for a further 2.7%.

Among the main exporting countries, Myanmar, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2017 an increase of 13%. The level of export peaked at $X per ton in 2014; however, from 2015 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 Myanmar ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.4%), while the other leaders experienced more modest paces of growth.

Preserved Herring Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of herrings (prepared or preserved) were imported in South-Eastern Asia; with a decrease of -35.8% compared with 2020. In general, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2018 when imports increased by 136%. Over the period under review, imports reached the maximum at X tons in 2020, and then dropped markedly in the following year.

In value terms, preserved herring imports shrank dramatically to $X in 2021. Overall, imports, however, showed buoyant growth. The growth pace was the most rapid in 2019 when imports increased by 121%. Over the period under review, imports reached the peak figure at $X in 2020, and then shrank markedly in the following year.

Imports by Country

Vietnam was the largest importing country with an import of around X tons, which accounted for 62% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a 16% share, followed by Thailand (8.7%) and Singapore (6.2%). The Philippines (X tons) and Lao People's Democratic Republic (X tons) took a minor share of total imports.

Imports into Vietnam increased at an average annual rate of +28.8% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+71.2%), Indonesia (+14.4%) and Thailand (+1.0%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +71.2% from 2012-2021. By contrast, the Philippines (-3.4%) and Singapore (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam, Indonesia, the Philippines and Lao People's Democratic Republic increased by +46, +4.4, +3.4 and +2.3 percentage points, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported herrings (prepared or preserved) in South-Eastern Asia, comprising 54% of total imports. The second position in the ranking was held by Thailand ($X), with a 25% share of total imports. It was followed by Singapore, with a 13% share.

In Vietnam, preserved herring imports expanded at an average annual rate of +30.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+5.0% per year) and Singapore (-2.4% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, surging by 23% against the previous year. Over the period under review, the import price, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2019 when the import price increased by 196% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 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 Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+22.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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