Belgium: Overview of the Market for Fish Fats And Oils 2021

Market Size for Fish Fats And Oils in Belgium

In 2020, the Belgian fish fat and oil market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption showed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Fish Fats And Oils in Belgium

In value terms, fish fat and oil production skyrocketed to $X in 2020 estimated in export prices. Overall, production recorded a remarkable increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% year-to-year. As a result, production reached the peak level of $X. From 2019 to 2020, production growth failed to regain the momentum.

Exports of Fish Fats And Oils

Exports from Belgium

In 2020, overseas shipments of fish fats and oils decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2017 when exports increased by X% y-o-y. Over the period under review, exports hit record highs at X tonnes in 2010; however, from 2011 to 2020, exports remained at a lower figure.

In value terms, fish fat and oil exports fell notably to $X in 2020. In general, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at $X in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

Exports by Country

The Netherlands (X tonnes) was the main destination for fish fat and oil exports from Belgium, accounting for a X% share of total exports. Moreover, fish fat and oil exports to the Netherlands exceeded the volume sent to the second major destination, France (X tonnes), fourfold. Hungary (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to the Netherlands stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-X% per year) and Hungary (+X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for fish fat and oil exports from Belgium, comprising X% of total exports. The second position in the ranking was occupied by China ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to the Netherlands amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and France (-X% per year).

Export Prices by Country

In 2020, the average fish fat and oil export price amounted to $X per tonne, jumping by X% against the previous year. Overall, export price indicated moderate growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, fish fat and oil export price increased by +X% against 2017 indices. As a result, export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was China ($X per tonne), while the average price for exports to France ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fats And Oils

Imports into Belgium

In 2020, the amount of fish fats and oils imported into Belgium soared to X tonnes, rising by X% compared with the previous year's figure. Overall, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. As a result, imports attained the peak of X tonnes. From 2011 to 2020, the growth imports remained at a lower figure.

In value terms, fish fat and oil imports surged to $X in 2020. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Imports peaked at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, the Netherlands (X tonnes) constituted the largest fish fat and oil supplier to Belgium, accounting for a X% share of total imports. Moreover, fish fat and oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Oman (X tonnes), sevenfold. The third position in this ranking was occupied by Mexico (X tonnes), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from the Netherlands totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+X% per year) and Mexico (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of fish fat and oil to Belgium, comprising X% of total imports. The second position in the ranking was occupied by Oman ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from the Netherlands stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+X% per year) and France (-X% per year).

Import Prices by Country

The average fish fat and oil import price stood at $X per tonne in 2020, growing by X% against the previous year. Over the period under review, the import price continues to indicate a temperate expansion. The pace of growth was the most pronounced in 2011 when the average import price increased by X% year-to-year. Over the period under review, average import prices reached the peak figure at $X per tonne in 2014; however, from 2015 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per tonne), while the price for Mexico ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Panama, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform