Hong Kong SAR, China: Rendered Pig Fat Market 2023

Rendered Pig Fat Market Size in Hong Kong SAR, China

In 2022, the Hong Kong rendered pig fat market increased by X% to $X, rising for the second year in a row 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.

Rendered Pig Fat Production in Hong Kong SAR, China

In value terms, rendered pig fat production skyrocketed to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by X,400%. Rendered pig fat production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Rendered Pig Fat Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of lard and other pig fat (rendered) decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, exports continue to indicate a dramatic descent. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, rendered pig fat exports declined dramatically to $X in 2022. Over the period under review, exports saw a precipitous decrease. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for rendered pig fat exports from Hong Kong SAR, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR was relatively modest.

In value terms, Macao SAR ($X) emerged as the key foreign market for lard and other pig fat (rendered) exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR stood at X%.

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. In general, the export price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then declined modestly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for the Philippines amounted to X% per year.

Rendered Pig Fat Imports

Imports into Hong Kong SAR, China

In 2022, the amount of lard and other pig fat (rendered) imported into Hong Kong SAR contracted markedly to X tons, reducing by X% on 2021 figures. Overall, imports saw a abrupt decline. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, rendered pig fat imports surged to $X in 2022. Over the period under review, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of rendered pig fat to Hong Kong SAR, with a X% share of total imports. Moreover, rendered pig fat imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Belgium (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of lard and other pig fat (rendered) to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, 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: Canada (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average rendered pig fat import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a tangible expansion 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 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and the Netherlands ($X per ton), while the price for Spain ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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