Eastern Europe: Market for Herring, Salted Or In Brine 2024

Market Size for Herring, Salted Or In Brine in Eastern Europe

The East European market for herring, salted or in brine declined to $X in 2022, which is down by -9.6% against the previous year. Over the period under review, consumption showed a perceptible downturn. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Herring, Salted Or In Brine in Eastern Europe

In value terms, herring, salted or in brine production fell to $X in 2022 estimated in export price. Overall, production showed a abrupt contraction. The pace of growth was the most pronounced in 2016 when the production volume increased by 30%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Exports of Herring, Salted Or In Brine

Exports in Eastern Europe

In 2022, overseas shipments of herring, salted or in brine were finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, herring, salted or in brine exports surged to $X in 2022. In general, exports posted buoyant growth. The pace of growth was the most pronounced in 2019 when exports increased by 168% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Belarus prevails in exports structure, finishing at X tons, which was approx. 85% of total exports in 2022. The following exporters - Latvia (X tons), Lithuania (X tons) and Russia (X tons) - each finished at a 12% share of total exports.

Belarus was also the fastest-growing in terms of the herring, salted or in brine exports, with a CAGR of +54.2% from 2012 to 2022. At the same time, Latvia (+36.7%) and Lithuania (+1.1%) displayed positive paces of growth. By contrast, Russia (-11.8%) illustrated a downward trend over the same period. While the share of Belarus (+80 p.p.) and Latvia (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Lithuania (-15.6 p.p.) and Russia (-62.8 p.p.) displayed negative dynamics.

In value terms, Belarus ($X) remains the largest herring, salted or in brine supplier in Eastern Europe, comprising 73% of total exports. The second position in the ranking was held by Lithuania ($X), with a 9.6% share of total exports. It was followed by Latvia, with a 9.2% share.

In Belarus, herring, salted or in brine exports increased at an average annual rate of +42.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Lithuania (+1.2% per year) and Latvia (+32.7% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, which is down by -28.2% against the previous year. Over the period under review, the export price showed a noticeable slump. The most prominent rate of growth was recorded in 2018 an increase of 30%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Lithuania ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Herring, Salted Or In Brine

Imports in Eastern Europe

In 2022, the amount of herring, salted or in brine imported in Eastern Europe contracted dramatically to X tons, falling by -18.2% on the previous year's figure. Overall, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 82% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then fell notably in the following year.

In value terms, herring, salted or in brine imports dropped to $X in 2022. Over the period under review, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 54% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

Ukraine represented the largest importing country with an import of about X tons, which amounted to 65% of total imports. Lithuania (X tons) took the second position in the ranking, followed by Russia (X tons). All these countries together took near 26% share of total imports. The Czech Republic (X tons) followed a long way behind the leaders.

Ukraine was also the fastest-growing in terms of the herring, salted or in brine imports, with a CAGR of +44.3% from 2012 to 2022. At the same time, Russia (+35.3%) and the Czech Republic (+21.8%) displayed positive paces of growth. Lithuania experienced a relatively flat trend pattern. Ukraine (+58 p.p.) and Russia (+10 p.p.) significantly strengthened its position in terms of the total imports, while Lithuania saw its share reduced by -42.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ukraine ($X) constitutes the largest market for imported herring, salted or in brine in Eastern Europe, comprising 61% of total imports. The second position in the ranking was taken by Lithuania ($X), with an 18% share of total imports. It was followed by Russia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ukraine stood at +38.5%. In the other countries, the average annual rates were as follows: Lithuania (-0.5% per year) and Russia (+32.7% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, surging by 4.2% against the previous year. In general, the import price, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2016 when the import price increased by 11% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, 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 Lithuania ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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