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European Fish Fat and Oil Exports Surge with Growing Supplies from Denmark

fish
Archives, EU Trade, Global Trade Daily

European Fish Fat and Oil Exports Surge with Growing Supplies from Denmark

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IndexBox has just published a new report: ‘EU – Fish Fats And Oils – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

European fish fat and oil exports increased by +23% y-o-y to $541M in 2020. In physical terms, exports rose +12% y-o-y to 251K tonnes. Denmark remains the most significant European fish fat supplier, accounting for 60% of total export volume in the EU, followed by France and the Netherlands. All these countries increased their export value last year. The average fish fat and oil export price in the EU spiked by +10% y-o-y to $2,155 per tonne in 2020.

European Fish Fat and Oil Exports

Fish fat and oil exports expanded remarkably to 251K tonnes in 2020, picking up by +12% compared with the previous year’s figure. In value terms, fish fat and oil exports skyrocketed by +23.4% y-o-y to $541M (IndexBox estimates) in 2020.

In 2020, Denmark (150K tonnes) represented the largest exporter of fish fats and oils, constituting 60% of total exports. France (26K tonnes) held an 11% share (based on tonnes) of total exports, which put it in second place, followed by the Netherlands (8.6%), Germany (6.3%) and Spain (4.7%). The following exporters – Latvia (8.4K tonnes) and Poland (6.4K tonnes) – each accounted for a 5.9% share of total exports.

In value terms, Denmark ($297M) remains the most prominent fish fat and oil supplier in the EU, comprising 55% of total exports. The second position in the ranking was occupied by the Netherlands ($69M), with a 13% share, followed by France, with a 10% share.

In Denmark, fish fat and oil exports increased by +21.8% y-o-y in 2020. Exports from the Netherlands jumped by +64.0% y-o-y, while France recorded a +12.7%-increase in exports.

In 2020, the average export price for fish fat and oil in the EU grew by 10% y-o-y to $2,155 per tonne. Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($3,194 per tonne), while Latvia ($1,057 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Denmark, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

fish
Archives, Global Trade Daily, News

American Frozen Fish Meat Exports Slump on Falling Demand from Japan

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IndexBox has just published a new report: ‘U.S. – Frozen Fish Meat – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

American frozen fish meat exports dropped from $602M in 2019 to $518M in 2020 amid the declining demand from Japan and South Korea. In physical terms, exports shrank by -9.5% y-o-y to 198K tonnes. South Korea, Japan and France constitute the leading importers, accounting for 65% of American frozen fish meat exports. The average export price for frozen fish meat from the U.S. decreased by -4.8% y-o-y to $2,623 per tonne in 2020.

American Frozen Fish Meat Exports by Country

In 2020, frozen fish meat exports from the U.S. declined to 198K tonnes, reducing by -9.5% against the year before. In value terms, frozen fish meat exports shrank from $602M in 2019 to $518M (IndexBox estimates) in 2020.

South Korea (61K tonnes), Japan (51K tonnes) and France (17K tonnes) were the main destinations of frozen fish meat exports from the U.S., with a combined 65% share of total exports. The Netherlands, Spain, Lithuania and Canada lagged somewhat behind, together accounting for a further 24%.

American supplies to Japan dropped from 75K tonnes to 51K tonnes last year. Exports to South Korea reduced from 68K tonnes to 61K tonnes. By contrast, frozen fish meat exports to the Netherlands increased by +50%, reaching 14K tonnes in 2020.

In value terms, the largest markets for frozen fish meat exported from the U.S. were South Korea ($162M), Japan ($128M) and France ($45M), with a combined 65% share of total exports. These countries were followed by Spain, Lithuania, the Netherlands and Canada, which together accounted for a further 25%.

The average export price for frozen fish meat stood at $2,623 per tonne in 2020, shrinking by -4.8% against the previous year. Prices varied noticeably by the country of destination; the country with the highest price was Canada ($3,563 per tonne), while the average price for exports to the Netherlands ($2,330 per tonne) was amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to France, while the prices for the other significant destinations experienced mixed trend patterns.

Source: IndexBox Platform

crab meat
Archives, Global Trade Daily, News

The Frozen Crab and Crab Meat Market Survives Pandemic Losses, With E-Commerce Promising a Recovery

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IndexBox has just published a new report: ‘World – Crabs And Crabs Meat – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

In 2020, the production and export of frozen crab and crab meat declined worldwide; the fall in sales incurred by the closure of the HoReCa segment, however, was offset by the surge in demand from retail consumers. Global imports fell against previous year figures, but demand from the USA, a major importer, remained robust.

Key Trends and Insights

Global imports of crab meat (including frozen) fell by 14.7% in the first half of 2020 against the same period of 2019 (IndexBox estimates), illustrating a decrease in demand during the pandemic. The growth in e-commerce in the retail sector, combined with home delivery, helped to partly offset the slump in HoReCa.

The USA remains a key importing market. In 2020, crab imports (live and frozen) to the country fell marginally by -1.4% against previous year indices to 76 thousand tonnes, buoyed by a sharp increase in supplies from Canada.

In 2020, Russia, a major global exporter, supplied crabs and crab meat abroad for approx. 70 thousand tonnes, which was 12% less than in 2019. The Republic of Korea remains a key export destination for Russian crab products, absorbing over 60% (in physical terms) of Russian frozen crab exports.

In the future term to 2030, the global crab meat market is projected to expand to 483 thousand tonnes (IndexBox estimates). Key market drivers include a rising population and higher levels of income, rapid urbanization, and increasing demand from retail consumers. The product’s extensive storage life, should Covid restrictions and the ensuing disruption to delivery times return, also remains a key factor.

China to Remain the Largest Consumer of Crabs while Russia to Dominate the Export Market

The country with the largest volume of crab and crab meat consumption was China (1.8M tonnes), accounting for 61% of the total volume. Moreover, crab and crab meat consumption in China exceeded the figures recorded by the second-largest consumer, Indonesia (255K tonnes), sevenfold. The third position in this ranking was occupied by the U.S. (176K tonnes), with a 6% share (IndexBox estimates).

In China, crab and crab meat consumption increased at an average annual rate of +1.5% over the period from 2012-2019. In the other countries, the average annual rates were as follows: Indonesia (+19.5% per year) and the U.S. (-1.3% per year).

In value terms, China ($15.4B) led the market, alone. The second position in the ranking was occupied by the U.S. ($2.1B). It was followed by Indonesia.

The countries with the highest levels of crab and crab meat per capita consumption in 2019 were South Korea (1,904 kg per 1000 persons), China (1,230 kg per 1000 persons) and Indonesia (943 kg per 1000 persons).

In 2019, Russia (82K tonnes) and Canada (63K tonnes) represented the key exporters of crabs and crab meat around the world, together resulting at approx. 39% of total exports. China (40K tonnes) occupied the next position in the ranking, followed by the UK (20K tonnes) and Indonesia (18K tonnes). All these countries together occupied near 21% share of total exports. The U.S. (17K tonnes), Myanmar (16K tonnes), Bangladesh (13K tonnes), India (11K tonnes), Ireland (9.9K tonnes), Bahrain (9.4K tonnes), Norway (7.7K tonnes) and Pakistan (7.1K tonnes) followed a long way behind the leaders.

From 2012 to 2019, the biggest increases were in Norway, while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($1.5B), Canada ($1.1B) and China ($337M) were the countries with the highest levels of exports in 2019, with a combined 65% share of global exports.

The average crab and crab meat export price stood at $12,003 per tonne in 2019, growing by 2.5% against the previous year. Over the last seven years, it increased at an average annual rate of +4.7%. The pace of growth appeared the most rapid in 2017 when the average export price increased by 12% y-o-y. The global export price peaked in 2019 and is expected to retain growth in years to come.

Source: IndexBox AI Platform

lobsters
Archives, Global Trade Daily, International Trade

LOBSTERS ARE A PRAWN IN THE TRADE WARS

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Lobster Trap

TradeVistas has named the lobster the “2020 person of the year” in international trade. It’s a well-deserved honor. The lobster is at the center of a trade war that will go down as one of the most compelling cases of the futility of tariff politics.

American lobster and lobster fishers got caught in a trade war being fought on multiple fronts. The United States is battling China on one major front and the European Union (EU) on another, but – as is typical in trade wars – it’s lobster production in another country that’s winning the war. In this case, Canada.

If that weren’t enough, tariffs are the root cause of the trade war, but not in the way you might think. China’s tariffs on U.S. lobsters are in retaliation for President Trump’s China tariffs over intellectual property. The EU didn’t raise its tariffs on U.S. lobster, but rather lowered them on Canadian ones as part of their free trade agreement. In other words, U.S. lobsters were never meant to be the target of either Chinese or EU protectionism.

Trade Person of the Year

Just a Prawn in the Trade Game

How the lobster trade war started isn’t nearly as interesting as the efforts to stop it. The Trump administration has tried to restore market access for American lobster but were outmaneuvered in part through a trade liberalizing measure by China.

Start with China, which hit American lobsters with a 25 percent tariff when President Trump rolled out his China tariffs under Section 301. This tariff hike hurt, but then China moved to lower its lobster tariff at the World Trade Organization (WTO), and this hurt even more. In particular, China slashed its most-favored-nation (MFN) tariff to 7 percent while imposing retaliatory tariffs on U.S. lobster of as much as 40 percent. American lobsters were effectively priced out of the market.

President Trump responded with an Executive order instructing the United States Trade Representative to monitor Chinese imports of lobsters. China’s Phase 1 purchase commitments in the US-China trade deal were to be tracked and “appropriate action” to be taken if China fell short. But these purchase commitments are hard for China to deliver on given the extra import duties on American lobsters. The data speak for themselves: since 2018, U.S. lobster exports to China have fallen by nearly two-thirds.

The irony is that things would be worse were it not for China’s rising trade tensions with Australia, another key supplier of lobsters. Australian lobsters have enjoyed the benefits of zero tariffs under the China-Australia free trade agreement since 2015.

Lobster X to China

Shellfish Trade Liberalization

Then there’s Europe. This front of the lobster trade war is especially interesting because it defies convention. The EU didn’t wage a protectionist campaign against the United States. Instead, since 2017, it has had free trade with Canada. The Comprehensive Economic and Trade Agreement (CETA) zeroed out tariffs on Canadian lobsters, leaving their American seafood brethren 8 percent more costly, since U.S. exporters must pay Europe’s MFN rate. In other words, the penalty in the marketplace isn’t because Europe is cheating, but because the United States is falling behind in the race to sign preferential trade agreements.

Back in 2019, Washington had asked Brussels for a deal to offset Canada’s advantage in lobster tariffs. The EU said no, insisting this would violate MFN. Then, this past summer, the EU agreed to zero out it’s lobster tariffs on an MFN basis, retroactive to August 1, in exchange for the United States reducing its tariffs on certain items by 50 percent. This ad hoc approach to trade liberalization, touted as the first tariff cuts in US-EU trade in 20 years, looked like it had plugged the hole. But then came decisions in a longstanding WTO dispute between Boeing and Airbus.

Out of the Blue Sky into the Sea

After more than a decade of WTO litigation, the United States and Europe were both authorized to retaliate. The United States struck first, imposing 15-25 percent tariffs on European food and drink, among other items, up to a maximum of $US7.5 billion. Europe’s authorization was postponed due to COVID-19, but came through this fall, up to a maximum of $US4 billion.

The EU’s original hit list, drawn up to $US25 billion, had included six tariff lines covering frozen and live lobsters. But this week, to the surprise of many, Europe’s revised hit list, redrawn to $US4 billion, spared lobsters entirely. Other seafood was hit, including salmon. But the August deal to walk back the tariff differential caused by CETA had ironically shielded American exporters from WTO-authorized retaliation on civil aircraft. If that doesn’t say it all.

Lobster X to EU

Clawing Back to Normal?

Things may change. A failure to negotiate a US-EU deal on Boeing-Airbus could see Europe yet impose tariffs on American lobsters. But even if that doesn’t happen, the impact of the original 8 percent tariff differential, CETA versus MFN, has been shocking enough.

In 2016, a year before the debut of CETA, U.S. exports of lobsters to Europe were valued at US$152.2 million. In 2019, they stood at US$57.8 million. Through the first nine months of 2020, U.S. exports were valued at US$14.3 million. With these figures in mind, imagine what a 15-25 percent retaliatory tariff would do.

U.S. trade policy has punished the lobster industry for years. Lobster fishermen should be included in the agricultural relief programs enacted by Congress. The takeaway for politicians is that no one set out to wage the lobster trade wars and no one can solve them with more tariffs.

The lobster, as the “person of the year” for 2020, reminds us that freer trade always puts the lie to tariff politics.

_______________________________________________________________

marc busch

Marc L. Busch is the Karl F. Landegger Professor of International Business Diplomacy at the Walsh School of Foreign Service, Georgetown University, a nonresident Senior Fellow at the Atlantic Council, and host of the podcast TradeCraft.

frozen
Archives, Global Trade Daily, Imports/Exports

Spain’s Market for Frozen Crabs, Lobsters, Shrimp, and Prawns Totaled $1.3B

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IndexBox has just published a new report: ‘Spain – Frozen Crustaceans – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The revenue of the frozen crustaceans market in Spain amounted to $1.3B in 2018, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

Production in Spain

In 2018, approx. 39K tonnes of frozen crustaceans were produced in Spain; coming down by -2.3% against the previous year. Overall, frozen crustaceans production continues to decline.

Exports from Spain

In 2018, approx. 44K tonnes of frozen crustaceans were exported from Spain; approximately reflecting the previous year. The total export volume increased at an average annual rate of +6.9% over the period from 2014 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2015 when exports increased by 18% y-o-y. Over the period under review, frozen crustaceans exports attained their maximum at 45K tonnes in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

In value terms, frozen crustaceans exports stood at $418M (IndexBox estimates) in 2018.

Exports by Country

Italy (17K tonnes), Portugal (10K tonnes) and France (5.6K tonnes) were the main destinations of frozen crustaceans exports from Spain, together accounting for 74% of total exports. These countries were followed by the U.S., Germany, Greece, Belgium, the UK and the Netherlands, which together accounted for a further 18%.

From 2014 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by the U.S. (+52.7% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($164M), Portugal ($96M) and France ($61M) appeared to be the largest markets for frozen crustaceans exported from Spain worldwide, together accounting for 77% of total exports. Germany, the U.S., Belgium, Greece, the UK and the Netherlands lagged somewhat behind, together accounting for a further 16%.

Export Prices by Country

The average frozen crustaceans export price stood at $9,432 per tonne in 2018, growing by 3.9% against the previous year. In general, the frozen crustaceans export price, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of 6.3% y-o-y. The export price peaked at $10,776 per tonne in 2014; however, from 2015 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the UK ($11,039 per tonne), while the average price for exports to the U.S. ($5,359 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands, while the prices for the other major destinations experienced a decline.

Source: IndexBox AI Platform

molluscs
Archives, Global Trade Daily, News

Molluscs Market in the EU Bounced Back to $4.6B

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IndexBox has just published a new report: ‘EU – Molluscs (Scallops, Mussels, Cuttle Fish, Squid And Octopus) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the molluscs market in the European Union amounted to $4.6B in 2018, growing by 2.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

Consumption By Country in the EU

The countries with the highest volumes of molluscs consumption in 2018 were Spain (174K tonnes), Italy (148K tonnes) and Germany (136K tonnes), together comprising 53% of total consumption. The UK, Poland, Portugal, Greece, Romania, Belgium, the Czech Republic, Sweden and Hungary lagged somewhat behind, together accounting for a further 38%.

From 2007 to 2018, the most notable rate of growth in terms of molluscs consumption, amongst the main consuming countries, was attained by Portugal, while molluscs consumption for the other leaders experienced mixed trends in the consumption figures.

In value terms, the largest molluscs markets in the European Union were Spain ($996M), Germany ($901M) and Italy ($878M), with a combined 61% share of the total market. Poland, Portugal, Romania, Belgium, the Czech Republic, Sweden, Hungary, Greece and the UK lagged somewhat behind, together accounting for a further 29%.

The countries with the highest levels of molluscs per capita consumption in 2018 were Portugal (4,386 kg per 1000 persons), Spain (3,727 kg per 1000 persons) and Italy (2,479 kg per 1000 persons).

Production in the EU

In 2018, the amount of molluscs (scallops, mussels, cuttle fish, squid and octopus) produced in the European Union stood at 588K tonnes, remaining stable against the previous year. In general, molluscs production continues to indicate a mild shrinkage.

Production By Country in the EU

The countries with the highest volumes of molluscs production in 2018 were Germany (131K tonnes), the UK (128K tonnes) and Spain (115K tonnes), with a combined 64% share of total production. These countries were followed by Poland, Romania, Belgium, the Czech Republic, Hungary, Sweden, Austria, Slovakia and Portugal, which together accounted for a further 29%.

From 2007 to 2018, the most notable rate of growth in terms of molluscs production, amongst the main producing countries, was attained by Portugal, while molluscs production for the other leaders experienced mixed trends in the production figures.

Exports in the EU

In 2018, exports of molluscs (scallops, mussels, cuttle fish, squid and octopus) in the European Union amounted to 162K tonnes, remaining relatively unchanged against the previous year. Overall, molluscs exports continue to indicate a relatively flat trend pattern. The volume of exports peaked at 180K tonnes in 2011; however, from 2012 to 2018, exports remained at a lower figure. In value terms, molluscs exports amounted to $1.1B (IndexBox estimates) in 2018.

Exports by Country

Spain dominates molluscs exports structure, recording 100K tonnes, which was near 62% of total exports in 2018. Portugal (10,117 tonnes) took the second position in the ranking, followed by the Netherlands (10,007 tonnes), the UK (9,837 tonnes) and Italy (7,423 tonnes). All these countries together occupied approx. 23% share of total exports. Belgium (6,244 tonnes) and France (4,941 tonnes) followed a long way behind the leaders.

Spain experienced a relatively flat trend pattern with regard to volume of exports of molluscs (scallops, mussels, cuttle fish, squid and octopus) exports. At the same time, Portugal (+7.8%) and the Netherlands (+7.7%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +7.8% from 2007-2018. Italy experienced a relatively flat trend pattern. By contrast, Belgium (-4.0%), the UK (-4.9%) and France (-10.0%) illustrated a downward trend over the same period.

In value terms, Spain ($630M) remains the largest molluscs supplier in the European Union, comprising 57% of total molluscs exports. The second position in the ranking was occupied by the UK ($94M), with a 8.5% share of total exports. It was followed by Belgium, with a 6.4% share.

Export Prices by Country

The molluscs export price in the European Union stood at $6,816 per tonne in 2018, rising by 2.9% against the previous year. Over the last eleven years, it increased at an average annual rate of +3.5%.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Belgium ($11,342 per tonne), while the Netherlands ($4,729 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Belgium, while the other leaders experienced more modest paces of growth.

Imports in the EU

In 2018, approx. 445K tonnes of molluscs (scallops, mussels, cuttle fish, squid and octopus) were imported in the European Union; standing approx. at the previous year. In value terms, molluscs imports totaled $2.7B (IndexBox estimates) in 2018. The total import value increased at an average annual rate of +2.2% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

Imports by Country

In 2018, Spain (160K tonnes) and Italy (149K tonnes) were the main importers of molluscs (scallops, mussels, cuttle fish, squid and octopus) in the European Union, together reaching near 70% of total imports. Portugal (45K tonnes) held a 10% share (based on tonnes) of total imports, which put it in second place, followed by Greece (4.9%). France (14K tonnes), the Netherlands (9.1K tonnes) and Croatia (8.4K tonnes) occupied a minor share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by the Netherlands, while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($967M), Italy ($920M) and Portugal ($236M) were the countries with the highest levels of imports in 2018, with a combined 78% share of total imports. These countries were followed by Greece, France, the Netherlands and Croatia, which together accounted for a further 11%.

Import Prices by Country

In 2018, the import price for molluscs in the European Union amounted to $6,121 per tonne, increasing by 3.7% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +3.3%.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was France ($7,013 per tonne), while Croatia ($4,110 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Spain, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

herring
Archives, EU Trade, Global Trade Daily

The Growth of Canned Herring Market in the EU Loses Momentum

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IndexBox has just published a new report: ‘EU – Herrings (Prepared Or Preserved) – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The revenue of the herring market in the European Union amounted to $1.5B in 2018, remaining relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). From 2016-2017, the market grew rapidly, recovering from a noticeable slump observed in 2015. In 2018, however, the market growth lost its momentum, and the market volume stays within its relatively flat long-term trend pattern.

Consumption By Country in the EU

The countries with the highest volumes of canned herring consumption in 2018 were Germany (81K tonnes), Poland (80K tonnes) and the UK (68K tonnes), with a combined 55% share of total consumption. These countries were followed by Italy, Spain, the Netherlands and Hungary, which together accounted for a further 31%.

From 2007 to 2018, the most notable rate of growth in terms of herring consumption, amongst the main consuming countries, was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

In value terms, the largest herring markets in the European Union were Germany ($420M), Poland ($222M) and the UK ($212M), together accounting for 58% of the total market.

The countries with the highest levels of herring per capita consumption in 2018 were Poland (2,1 kg per person), Italy (1,1 kg per person) and Hungary (1,0 kg per person).

Production in the EU

In 2018, approx. 423K tonnes of herrings (prepared or preserved) were produced in the European Union; approximately equating the previous year. In general, herring production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when production volume increased by 2.9% against the previous year. In value terms, herring production totaled $1.9B in 2018 estimated in export prices.

Production By Country in the EU

The countries with the highest volumes of herring production in 2018 were Poland (109K tonnes), Italy (66K tonnes) and the UK (65K tonnes), with a combined 57% share of total production. These countries were followed by Germany, Spain, Denmark and Lithuania, which together accounted for a further 32%.

From 2007 to 2018, the most notable rate of growth in terms of herring production, amongst the main producing countries, was attained by Lithuania, while the other leaders experienced more modest paces of growth.

Exports in the EU

In 2018, the exports of herrings (prepared or preserved) in the European Union totaled 121K tonnes, increasing by 6.9% against the previous year. Over the period under review, herring exports, however, continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2011 with an increase of 13% year-to-year. In value terms, herring exports stood at $399M (IndexBox estimates) in 2018.

Exports by Country

Poland was the main exporter of herrings (prepared or preserved) in the European Union, with the volume of exports accounting for 52K tonnes, which was approx. 43% of total exports in 2018. Denmark (27K tonnes) ranks second in terms of the total exports with a 22% share, followed by Germany (20%) and Lithuania (5.2%). The following exporters – Sweden (4,143 tonnes) and the Netherlands (3,077 tonnes) – each accounted for a 6% share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Germany, while the other leaders experienced more modest paces of growth.

In value terms, Poland ($165M) remains the largest herring supplier in the European Union, comprising 41% of total herring exports. The second position in the ranking was occupied by Denmark ($82M), with a 21% share of total exports. It was followed by Germany, with a 19% share.

Export Prices by Country

The herring export price in the European Union stood at $3,295 per tonne in 2018, reducing by -1.5% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +1.5%.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($6,046 per tonne), while Denmark ($3,072 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

Imports in the EU

The imports stood at 115K tonnes in 2018, increasing by 3.9% against the previous year. Overall, herring imports, however, continue to indicate a slight contraction. The growth pace was the most rapid in 2008 with an increase of 4.1% against the previous year. In that year, herring imports reached their peak of 137K tonnes. From 2009 to 2018, the growth of herring imports remained at a somewhat lower figure. In value terms, herring imports totaled $327M (IndexBox estimates) in 2018.

Imports by Country

Germany was the key importer of herrings (prepared or preserved) in the European Union, with the volume of imports finishing at 45K tonnes, which was approx. 39% of total imports in 2018. Poland (23K tonnes) occupied the second position in the ranking, distantly followed by the Netherlands (7,378 tonnes), Sweden (5,846 tonnes) and Denmark (5,698 tonnes). All these countries together occupied approx. 36% share of total imports. The UK (3,262 tonnes), Finland (3,251 tonnes), Austria (3,246 tonnes), Romania (2,774 tonnes), the Czech Republic (2,359 tonnes), France (2,216 tonnes) and Estonia (2,026 tonnes) took a relatively small share of total imports.

Imports into Germany decreased at an average annual rate of -2.3% from 2007 to 2018. At the same time, the Netherlands (+13.8%), Romania (+12.9%) and the UK (+3.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer in the European Union, with a CAGR of +13.8% from 2007-2018. Poland and France experienced a relatively flat trend pattern. By contrast, the Czech Republic (-2.1%), Denmark (-2.3%), Austria (-2.6%), Estonia (-4.8%), Sweden (-5.0%) and Finland (-5.4%) illustrated a downward trend over the same period. From 2007 to 2018, the share of the Netherlands, Romania and Poland increased by +4.9%, +1.8% and +1.6% percentage points, while Finland (-2.4 p.p.), Sweden (-3.8 p.p.) and Germany (-11.3 p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

Import Prices by Country

The herring import price in the European Union stood at $2,840 per tonne in 2018, waning by -4.4% against the previous year. In general, the herring import price, however, continues to indicate a relatively flat trend pattern.

Prices varied noticeably by the country of destination; the country with the highest price was Austria ($4,240 per tonne), while Sweden ($1,781 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Finland, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

anchovies
Archives, Global Trade Daily, Imports/Exports

The UK Emerges as the Largest Market for Anchovies Exports from Spain

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IndexBox has just published a new report: ‘Spain – Anchovies (Prepared Or Preserved) – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The revenue of the preserved anchovies market in Spain amounted to $128M in 2018, falling by -3.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, anchovies consumption, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2010 when the market value increased by 7.3% y-o-y. In that year, the anchovies market attained its peak level of $154M. From 2011 to 2018, the growth of the anchovies market failed to regain its momentum.

Production in Spain

In 2018, the anchovies production in Spain totaled 11K tonnes, remaining stable against the previous year. The total output volume increased at an average annual rate of +2.5% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The growth pace was the most rapid in 2014 with an increase of 14% y-o-y. Anchovies production peaked in 2018 and is likely to continue its growth in the near future.

Exports from Spain

In 2018, the exports of prepared or preserved anchovies from Spain totaled 3.6K tonnes. In general, the total exports indicated prominent growth from 2007 to 2018: its volume increased at an average annual rate of +5.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, anchovies exports reached their peak figure at 3.7K tonnes in 2015; however, from 2016 to 2018, exports failed to regain their momentum.

In value terms, anchovies exports totaled $54M (IndexBox estimates) in 2018. Overall, the total exports indicated buoyant growth from 2007 to 2018: its value increased at an average annual rate of +5.7% over the last eleven years.

Exports by Country

The UK (597 tonnes), Italy (471 tonnes) and France (404 tonnes) constitute the main destinations of anchovies exports from Spain, with a combined 40% share of total exports. These countries were followed by the U.S., Switzerland, Australia, the Netherlands, Canada, Germany, Egypt, Belgium and the Czech Republic, which together accounted for a further 45%.

In 2018, exports to the UK posted solid growth and practically regained their former peak achieved in 2015. This enabled the UK to overcome Italy in the ranking of top foreign markets for anchovies from Spain.

Export Prices by Country

The average anchovies export price stood at $14,843 per tonne in 2018, lowering by -3.7% against the previous year. Over the period under review, the anchovies export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 17% against the previous year. The export price peaked at $16,142 per tonne in 2008; however, from 2009 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Switzerland ($18,866 per tonne), while the average price for exports to Canada ($4,136 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Belgium, while the prices for the other major destinations experienced more modest paces of growth.

Imports into Spain

In 2018, the amount of anchovies (prepared or preserved) imported into Spain stood at 2.1K tonnes, growing by 16% against the previous year. Over the period under review, anchovies imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2010 when imports increased by 50% against the previous year. Imports peaked at 3.4K tonnes in 2015; however, from 2016 to 2018, imports failed to regain their momentum.

In value terms, anchovies imports amounted to $13M (IndexBox estimates) in 2018. In general, the total imports indicated measured growth from 2007 to 2018: its value increased at an average annual rate of +0.8% over the last eleven-year period.

Imports by Country

In 2018, Peru (989 tonnes) constituted the largest anchovies supplier to Spain, with a 47% share of total imports. Moreover, anchovies imports from Peru exceeded the figures recorded by the second-largest supplier, Morocco (493 tonnes), twofold. The third position in this ranking was occupied by Argentina (225 tonnes), with a 11% share.

From 2007 to 2018, the average annual growth rate of volume from Peru totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Morocco (+1.7% per year) and Argentina (-4.1% per year).

Source: IndexBox AI Platform