Price for Tallow; Other than Those of Heading 1503 in Ireland - 2023
Contents:
- Price for Tallow; Other than Those of Heading 1503 in Ireland (FOB) - 2023
- Price for Tallow; Other than Those of Heading 1503 in Ireland (CIF) - 2023
- Exports of Tallow; Other than Those of Heading 1503 in Ireland
- Imports of Tallow; Other than Those of Heading 1503 in Ireland
Price for Tallow; Other than Those of Heading 1503 in Ireland (FOB) - 2023
The average export price for tallow; other than those of heading 1503s stood at $1,021 per ton in September 2023, falling by -6.7% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2023 when the average export price increased by 22% against the previous month. Over the period under review, the average export prices hit record highs at $1,311 per ton in January 2023; however, from February 2023 to September 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was the UK ($1,780 per ton), while the average price for exports to Italy ($273 per ton) was amongst the lowest.
From October 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Tallow; Other than Those of Heading 1503 in Ireland (CIF) - 2023
In September 2023, the average import price for tallow; other than those of heading 1503s amounted to $1,645 per ton, falling by -6.4% against the previous month. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 14% month-to-month. Over the period under review, average import prices reached the peak figure at $2,037 per ton in December 2022; however, from January 2023 to September 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the highest price was recorded for prices from Belgium ($1,758 per ton) and Italy ($1,698 per ton), while the price for the UK ($1,446 per ton) and Germany ($1,580 per ton) were amongst the lowest.
From October 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the UK (+1.5%), while the prices for the other major suppliers experienced a decline.
Exports of Tallow; Other than Those of Heading 1503 in Ireland
In 2022, overseas shipments of tallow; other than those of heading 1503s were finally on the rise to reach 54K tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, faced a abrupt slump.
In value terms, exports of tallow; other than those of heading 1503s rose rapidly to $64M in 2022. The total export value increased at an average annual rate of +12.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 18% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Tallow; Other than Those of Heading 1503 in Ireland (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 32.2 | 38.8 | 43.9 | 38.5 | 6.1% |
| Belgium | 4.6 | 4.8 | 8.6 | 15.9 | 51.2% |
| Bulgaria | N/A | N/A | 0.1 | 4.5 | 4400.0% |
| United Kingdom | 6.1 | 6.6 | 1.2 | 3.1 | -20.2% |
| Latvia | N/A | N/A | N/A | 0.4 | 0% |
| Germany | 2.2 | 1.6 | 1.2 | N/A | -26.1% |
| Others | 0.5 | 2.0 | 1.9 | 1.9 | 56.0% |
| Total | 45.6 | 53.9 | 57.0 | 64.4 | 12.2% |
Top Export Markets for Tallow; Other than Those of Heading 1503 from Ireland in 2022:
- Netherlands (25.9K tons)
- Belgium (13.8K tons)
- Bulgaria (10.1K tons)
- United Kingdom (1.8K tons)
- Latvia (0.9K tons)
Imports of Tallow; Other than Those of Heading 1503 in Ireland
In 2022, purchases abroad of tallow; other than those of heading 1503s decreased by -8.2% to 7.1K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 102% against the previous year. As a result, imports reached the peak of 7.7K tons, and then fell in the following year.
In value terms, imports of tallow; other than those of heading 1503s soared to $11M in 2022. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 151%. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Tallow; Other than Those of Heading 1503 in Ireland (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 0.7 | 1.3 | 4.8 | 4.7 | 88.7% |
| Belgium | 0.8 | 1.8 | 2.9 | 4.2 | 73.8% |
| Germany | 0.3 | 0.4 | 1.2 | 1.7 | 78.3% |
| Italy | N/A | N/A | N/A | 0.3 | 0% |
| Malaysia | 0.7 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | 0.3 | 0% |
| Total | 2.6 | 3.5 | 8.9 | 11.3 | 63.2% |
Top Suppliers of Tallow; Other than Those of Heading 1503 to Ireland in 2022:
- United Kingdom (3.9K tons)
- Belgium (2.1K tons)
- Germany (0.9K tons)
- Italy (0.2K tons)
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