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  June 7th, 2023 | Written by

Spain’s Preserved Mackerel Price Rises Slightly to $5,212 per Ton

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Spain Preserved Mackerel Import Price in February 2023

In February 2023, the preserved mackerel price amounted to $5,212 per ton (CIF, Spain), growing by 2.3% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2022 when the average import price increased by 12% against the previous month. Over the period under review, average import prices hit record highs at $5,780 per ton in March 2022; however, from April 2022 to February 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Morocco ($7,610 per ton), while the price for Ecuador ($804 per ton) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Cabo Verde (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Spain Preserved Mackerel Imports

After two months of growth, purchases abroad of mackerel (prepared or preserved) decreased by -39% to 264 tons in February 2023. Over the period under review, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in May 2022 when imports increased by 267% month-to-month.

In value terms, preserved mackerel imports reduced sharply to $1.4M (IndexBox estimates) in February 2023. Overall, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in May 2022 when imports increased by 260% m-o-m. As a result, imports attained the peak of $2.9M. From June 2022 to February 2023, the growth of imports remained at a somewhat lower figure.

Spain Preserved Mackerel Imports by Country

Portugal (102 tons), Cabo Verde (81 tons) and China (47 tons) were the main suppliers of preserved mackerel imports to Spain, with a combined 87% share of total imports. These countries were followed by France, Germany, Morocco and Ecuador, which together accounted for a further 12%.

From February 2022 to February 2023, the biggest increases were in Germany (with a CAGR of +60.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved mackerel suppliers to Spain were Cabo Verde ($603K), Portugal ($433K) and China ($140K), with a combined 85% share of total imports. France, Germany, Morocco and Ecuador lagged somewhat behind, together accounting for a further 14%.

In terms of the main suppliers, Germany, with a CAGR of +59.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other  leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform