Australia and Oceania: Rendered Pig Fat Market 2022

Rendered Pig Fat Exports

Exports in Australia and Oceania

In 2021, shipments abroad of lard and other pig fat (rendered) increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, rendered pig fat exports reached $X in 2021. Overall, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of lard and other pig fat (rendered), namely Australia, represented more than two-thirds of total export.

Australia was also the fastest-growing in terms of the lard and other pig fat (rendered) exports, with a CAGR of +X% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest rendered pig fat supplier in Australia and Oceania.

In Australia, rendered pig fat exports contracted by an average annual rate of -X% over the period from 2012-2021.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, stabilizing at the previous year. Over the period under review, the export price recorded a dramatic descent. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Australia amounted to -X% per year.

Rendered Pig Fat Imports

Imports in Australia and Oceania

In 2021, supplies from abroad of lard and other pig fat (rendered) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, rendered pig fat imports skyrocketed to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, New Zealand (X tons) represented the major importer of lard and other pig fat (rendered), comprising X% of total imports. It was distantly followed by Australia (X tons), committing an X% share of total imports. The following importers - Marshall Islands (X tons) and French Polynesia (X tons) - each resulted at a X% share of total imports.

New Zealand was also the fastest-growing in terms of the lard and other pig fat (rendered) imports, with a CAGR of +X% from 2012 to 2021. Australia experienced a relatively flat trend pattern. Marshall Islands (-X%) and French Polynesia (-X%) illustrated a downward trend over the same period. While the share of New Zealand (+X p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Marshall Islands (-X p.p.), French Polynesia (-X p.p.) and Australia (-X p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) constitutes the largest market for imported lard and other pig fat (rendered) in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports. It was followed by French Polynesia, with a X% share.

In New Zealand, rendered pig fat imports increased at an average annual rate of +X% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Australia (+X% per year) and French Polynesia (-X% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2021, picking up by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Australia ($X per ton), while Marshall Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Marshall Islands (+X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform