Estonia: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in Estonia

The Estonian rendered pig fat market shrank significantly to $X in 2022, waning by X% against the previous year. In general, consumption, however, saw resilient growth. Rendered pig fat consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Rendered Pig Fat Production in Estonia

In value terms, rendered pig fat production declined modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep downturn. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Rendered pig fat production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Rendered Pig Fat Exports

Exports from Estonia

In 2022, overseas shipments of lard and other pig fat (rendered) increased by X% to X tons, rising for the third consecutive year after four years of decline. Overall, exports, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, rendered pig fat exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a perceptible downturn. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Poland (X tons) was the main destination for rendered pig fat exports from Estonia, with a X% share of total exports. Moreover, rendered pig fat exports to Poland exceeded the volume sent to the second major destination, Finland (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Poland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Latvia (X% per year).

In value terms, Poland ($X) emerged as the key foreign market for lard and other pig fat (rendered) exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Poland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Latvia (X% per year).

Export Prices by Country

The average rendered pig fat export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, recorded a notable increase. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced mixed trend patterns.

Rendered Pig Fat Imports

Imports into Estonia

In 2022, the amount of lard and other pig fat (rendered) imported into Estonia declined remarkably to X tons, falling by X% against 2021 figures. Over the period under review, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, rendered pig fat imports soared to $X in 2022. Overall, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Poland (X tons) was the main supplier of rendered pig fat to Estonia, accounting for a X% share of total imports. Moreover, rendered pig fat imports from Poland exceeded the figures recorded by the second-largest supplier, Latvia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (X% per year) and Lithuania (X% per year).

In value terms, Poland ($X) constituted the largest supplier of lard and other pig fat (rendered) to Estonia, comprising X% of total imports. The second position in the ranking was taken by Latvia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (X% per year) and Lithuania (X% per year).

Import Prices by Country

In 2022, the average rendered pig fat import price amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rendered pig fat 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 2022, amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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