China: Tallow Market Overview 2021

Tallow Market Size in China

In 2020, after two years of growth, there was decline in the Chinese tallow market, when its value decreased by -X% to $X. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the market value increased by X% year-to-year. Tallow consumption peaked at $X in 2015; however, from 2016 to 2020, consumption remained at a lower figure.

Tallow Production in China

In value terms, tallow production reached $X in 2020 estimated in export prices. Overall, production showed buoyant growth. The pace of growth was the most pronounced in 2012 when the production volume increased by X% year-to-year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2020, production failed to regain the momentum.

Tallow Exports

Exports from China

In 2020, shipments abroad of tallow increased by X% to X tonnes, rising for the seventh year in a row after two years of decline. in general, exports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. Exports peaked in 2020 and are expected to retain growth in years to come.

In value terms, tallow exports fell remarkably to $X in 2020. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by X% year-to-year. Exports peaked at $X in 2019, and then dropped sharply in the following year.

Exports by Country

The United Arab Emirates (X tonnes) was the main destination for tallow exports from China, accounting for a X% share of total exports. Moreover, tallow exports to the United Arab Emirates exceeded the volume sent to the second major destination, Jordan (X tonnes), fourfold. The third position in this ranking was occupied by Kuwait (X tonnes), with a X% share.

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

In value terms, Jordan ($X), the United Arab Emirates ($X) and Kuwait ($X) were the largest markets for tallow exported from China worldwide, together comprising X% of total exports.

Jordan (+X% per year) saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average tallow export price amounted to $X per tonne, dropping by -X% against the previous year. in general, the export price, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2012 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2015; however, from 2016 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. in 2020, 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 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia, while the prices for the other major destinations experienced more modest paces of growth.

Tallow Imports

Imports into China

In 2020, the amount of tallow imported into China reduced notably to X tonnes, falling by -X% on 2019 figures. Over the period under review, imports showed a deep contraction. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2008; however, from 2009 to 2020, imports remained at a lower figure.

In value terms, tallow imports declined modestly to $X in 2020. Overall, imports recorded a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by X% y-o-y. Imports peaked at $X in 2011; however, from 2012 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Australia (X tonnes) constituted the largest supplier of tallow to China, with a X% share of total imports. Moreover, tallow imports from Australia exceeded the figures recorded by the second-largest supplier, New Zealand (X tonnes), threefold. Uruguay (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume 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).

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 2007 to 2020, the average annual growth rate of value from Australia stood at -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 2020, the average tallow import price amounted to $X per tonne, increasing by X% against the previous year. Over the period under review, import price indicated a modest increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2011 when the average import price increased by X% year-to-year. As a result, import price reached the peak level of $X per tonne. from 2012 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; 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 2007 to 2020, the most notable rate of growth in terms of prices was attained by Australia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform