China: Tallow Market 2022

Tallow Market Size in China

In 2021, the Chinese tallow market decreased by -X% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption saw a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Tallow Production in China

In value terms, tallow production dropped to $X in 2021 estimated in export prices. Overall, production, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Tallow Exports

Exports from China

In 2021, shipments abroad of tallow decreased by -X% to X tonnes, falling for the second year in a row after six years of growth. Overall, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tonnes in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, tallow exports surged to $X in 2021. Over the period under review, exports, however, posted prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Israel (X tonnes) was the main destination for tallow exports from China, with a X% share of total exports. Moreover, tallow exports to Israel exceeded the volume sent to the second major destination, Jordan (X tonnes), twofold. The United Arab Emirates (X tonnes) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Israel totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+X% per year) and the United Arab Emirates (+X% per year).

In value terms, Israel ($X), Jordan ($X) and Kuwait ($X) were the largest markets for tallow exported from China worldwide, with a combined X% share of total exports.

Among the main countries of destination, Jordan, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average tallow export price amounted to $X per tonne, jumping by X% against the previous year. Overall, the export price saw pronounced growth. As a result, the 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 export markets. In 2021, the country with the highest price was Jordan ($X per tonne), while the average price for exports to the United Arab Emirates ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Tallow Imports

Imports into China

Tallow imports into China declined modestly to X tonnes in 2021, which is down by -X% against the previous year. Overall, imports saw a deep reduction. The most prominent rate of growth was recorded in 2017 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, tallow imports surged to $X in 2021. Over the period under review, imports saw a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by X% year-to-year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Australia (X tonnes), New Zealand (X tonnes) and Uruguay (X tonnes) were the main suppliers of tallow imports to China, together comprising X% of total imports. Argentina lagged somewhat behind, accounting for a further X 2012 to 2021, the biggest increases were in Argentina (+X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Australia ($X) constituted the largest supplier of tallow to China, comprising X% of total imports. The second position in the ranking was occupied by New Zealand ($X), with a X% share of total imports. It was followed by Uruguay, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-X% per year) and Uruguay (+X% per year).

Import Prices by Country

In 2021, the average tallow import price amounted to $X per tonne, surging by X% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2021: its price 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, tallow import price increased by +X% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Uruguay ($X per tonne), while the price for New Zealand ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform