Western Africa: Preserved Herring Market 2024

Preserved Herring Market Size in Western Africa

The West African preserved herring market reduced to $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Preserved Herring Production in Western Africa

In value terms, preserved herring production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

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Preserved Herring Exports

Exports in Western Africa

In 2022, approx. X tons of herrings (prepared or preserved) were exported in Western Africa; increasing by X% against the year before. Overall, exports saw a buoyant increase. The growth pace was the most rapid in 2016 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, preserved herring exports amounted to $X in 2022. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Ghana (X tons), together finishing at X% of total export.

Ghana was also the fastest-growing in terms of the herrings (prepared or preserved) exports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of Ghana increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) also remains the largest preserved herring supplier in Western Africa.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per ton in 2021, and then shrank sharply in the following year.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to X% per year.

Preserved Herring Imports

Imports in Western Africa

In 2022, preserved herring imports in Western Africa soared to X tons, with an increase of X% against the previous year's figure. Over the period under review, imports recorded strong growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, preserved herring imports expanded significantly to $X in 2022. In general, imports saw a resilient expansion. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Cabo Verde (X tons) represented the key importer of herrings (prepared or preserved), making up X% of total imports. Burkina Faso (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%), Gambia (X%) and Ghana (X%). The following importers - Togo (X kg) and Niger (X kg) - each reached an X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved herring importing markets in Western Africa were Cabo Verde ($X), Gambia ($X) and Mali ($X), together accounting for X% of total imports.

Gambia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Western Africa stood at $X per ton in 2022, falling by X% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved herring import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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