Southern Asia: Smoked Herring Market 2024

Smoked Herring Market Size in Southern Asia

The South Asian smoked herring market declined modestly to $X in 2022, which is down by -2.2% against the previous year. Overall, consumption saw a noticeable contraction. The pace of growth was the most pronounced in 2018 with an increase of 9.7% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Smoked Herring Production in Southern Asia

In value terms, smoked herring production contracted slightly to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 17%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Smoked Herring Exports

Exports in Southern Asia

In 2022, exports of smoked herrings in Southern Asia reduced slightly to X tons, shrinking by -4.1% against the year before. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2018 with an increase of 427% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, smoked herring exports shrank to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 260% against the previous year. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

In 2022, India (X tons) was the largest exporter of smoked herrings, mixing up 84% of total exports. It was distantly followed by Sri Lanka (X tons), creating a 16% share of total exports.

India was also the fastest-growing in terms of the smoked herrings exports, with a CAGR of +29.9% from 2012 to 2022. At the same time, Sri Lanka (+7.1%) displayed positive paces of growth. India (+41 p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka saw its share reduced by -40.9% from 2012 to 2022, respectively.

In value terms, the largest smoked herring supplying countries in Southern Asia were India ($X) and Sri Lanka ($X).

India, with a CAGR of +47.4%, saw 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 2022, with a decrease of -3.2% against the previous year. In general, the export price, however, continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2020 an increase of 97%. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+13.5%).

Smoked Herring Imports

Imports in Southern Asia

In 2022, approx. X tons of smoked herrings were imported in Southern Asia; surging by 8.5% against the year before. In general, imports posted a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 248% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, smoked herring imports rose markedly to $X in 2022. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 313% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

India represented the main importer of smoked herrings in Southern Asia, with the volume of imports resulting at X kg, which was near 64% of total imports in 2022. Afghanistan (X kg) ranks second in terms of the total imports with a 26% share, followed by Maldives (10%).

India was also the fastest-growing in terms of the smoked herrings imports, with a CAGR of +41.5% from 2012 to 2022. At the same time, Maldives (+31.2%) and Afghanistan (+6.9%) displayed positive paces of growth. From 2012 to 2022, the share of India and Maldives increased by +58 and +8 percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported smoked herrings in Southern Asia, comprising 53% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 25% share of total imports.

In India, smoked herring imports increased at an average annual rate of +30.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Afghanistan (+5.9% per year) and Maldives (+27.1% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, with an increase of 3.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2019 when the import price increased by 27%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

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 Maldives ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Afghanistan (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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