South-Eastern Asia: Smoked Herring Market 2024

Smoked Herring Market Size in South-Eastern Asia

The Southeast Asian smoked herring market shrank to $X in 2022, with a decrease of -2.7% against the previous year. Over the period under review, consumption recorded a abrupt contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Smoked Herring Production in South-Eastern Asia

In value terms, smoked herring production contracted to $X in 2022 estimated in export price. In general, production saw a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Smoked Herring Exports

Exports in South-Eastern Asia

After three years of growth, shipments abroad of smoked herrings decreased by -52.2% to X tons in 2022. In general, exports, however, recorded a slight expansion. The pace of growth appeared the most rapid in 2017 with an increase of 3,742% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, smoked herring exports shrank markedly to $X in 2022. Over the period under review, exports recorded a perceptible reduction. The growth pace was the most rapid in 2017 when exports increased by 5,208% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Myanmar dominates exports structure, recording X tons, which was near 81% of total exports in 2022. The Philippines (X tons) ranks second in terms of the total exports with a 7.7% share, followed by Singapore (7.1%) and Vietnam (4.6%).

Myanmar was also the fastest-growing in terms of the smoked herrings exports, with a CAGR of +49.2% from 2012 to 2022. At the same time, Singapore (+29.1%) and the Philippines (+3.8%) displayed positive paces of growth. By contrast, Vietnam (-25.1%) illustrated a downward trend over the same period. Myanmar (+81 p.p.), Singapore (+6.5 p.p.) and the Philippines (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by -88.8% from 2012 to 2022, respectively.

In value terms, Myanmar ($X) emerged as the largest smoked herring supplier in South-Eastern Asia, comprising 67% of total exports. The second position in the ranking was held by the Philippines ($X), with a 13% share of total exports. It was followed by Vietnam, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Myanmar totaled +31.5%. In the other countries, the average annual rates were as follows: the Philippines (+11.6% per year) and Vietnam (-22.1% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, dropping by -7.8% against the previous year. Overall, the export price saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2015 an increase of 47% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Smoked Herring Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of smoked herrings were imported in South-Eastern Asia; waning by -23.3% against the year before. Overall, imports showed a abrupt shrinkage. The growth pace was the most rapid in 2015 when imports increased by 69% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, smoked herring imports contracted markedly to $X in 2022. In general, imports saw a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 91%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) represented the major importer of smoked herrings, comprising 57% of total imports. Brunei Darussalam (X tons) held the second position in the ranking, distantly followed by Indonesia (X kg). All these countries together held approx. 37% share of total imports. Singapore (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +18.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Malaysia ($X) constitutes the largest market for imported smoked herrings in South-Eastern Asia, comprising 52% of total imports. The second position in the ranking was held by Brunei Darussalam ($X), with a 21% share of total imports. It was followed by Singapore, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia stood at -8.7%. The remaining importing countries recorded the following average annual rates of imports growth: Brunei Darussalam (+17.8% per year) and Singapore (-12.0% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, picking up by 1.8% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked herring import price decreased by -22.6% against 2019 indices. The growth pace was the most rapid in 2019 when the import price increased by 28%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the 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 Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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