Southern Asia: Preserved Herring Market 2024

Preserved Herring Market Size in Southern Asia

The South Asian preserved herring market was estimated at $X in 2021, approximately equating the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.7% 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 -1.1% against 2019 indices. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Preserved Herring Production in Southern Asia

In value terms, preserved herring production expanded 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 +5.9% 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 decreased by -1.8% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 21% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Preserved Herring Exports

Exports in Southern Asia

In 2021, the amount of herrings (prepared or preserved) exported in Southern Asia was estimated at X tons, therefore, remained relatively stable against 2020 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 138% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved herring exports declined modestly to $X in 2021. Overall, exports, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 170% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the two major exporters of herrings (prepared or preserved), namely Bangladesh and India, represented more than two-thirds of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bangladesh (with a CAGR of +18.8%).

In value terms, India ($X) and Bangladesh ($X) constituted the countries with the highest levels of exports in 2021.

Bangladesh, with a CAGR of +9.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the export price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2019 when the export price increased by 40% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Bangladesh totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.7%).

Preserved Herring Imports

Imports in Southern Asia

In 2021, purchases abroad of herrings (prepared or preserved) increased by 0.2% to X tons, rising for the sixth year in a row after three years of decline. Over the period under review, imports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 20%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved herring imports plummeted to $X in 2021. In general, imports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2017 when imports increased by 30% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Maldives (X tons) and India (X tons) prevails in imports structure, together creating 73% of total imports. Nepal (X tons) held the next position in the ranking, followed by Afghanistan (X tons) and Sri Lanka (X tons). All these countries together held approx. 26% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +36.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Maldives ($X) and Afghanistan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 77% share of total imports.

Among the main importing countries, India, with a CAGR of +33.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, falling by -18.7% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 46%. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Maldives ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Afghanistan (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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