Iceland: Lard Market Overview 2020

Lard Market Size in Iceland

The revenue of the lard market in Iceland amounted to $X in 2018, reducing by -X% against the previous year. Overall, lard consumption continues to indicate a deep decline. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. Iceland lard consumption peaked at $X in 2007; however, from 2008 to 2018, consumption failed to regain its momentum.

Lard Production in Iceland

In value terms, lard production totaled $X in 2018 estimated in export prices. Over the period under review, lard production continues to indicate a moderate contraction. The most prominent rate of growth was recorded in 2016 when production volume increased by X% y-o-y. Over the period under review, lard production reached its maximum level at $X in 2008; however, from 2009 to 2018, production failed to regain its momentum.

Lard Exports

Exports by Country

The countries with the highest levels of lard exports in 2018 were Germany (X tonnes), Spain (X tonnes) and Belgium (X tonnes), together amounting to X% of total export. It was distantly followed by the U.S. (X tonnes), the Netherlands (X tonnes), Italy (X tonnes) and Austria (X tonnes), together creating a X% share of total exports. France (X tonnes), Canada (X tonnes), Denmark (X tonnes), Poland (X tonnes) and Portugal (X tonnes) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Denmark, while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and Belgium ($X) constituted the countries with the highest levels of exports in 2018, with a combined X% share of total exports. The U.S., Italy, the Netherlands, Canada, Poland, France, Austria, Denmark and Portugal lagged somewhat behind, together comprising a further X the main exporting countries, Portugal recorded the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the lard export price in Iceland amounted to $X per tonne, standing approx. at the previous year. Overall, the lard export price continues to indicate a relatively flat trend pattern. Iceland export price peaked at $X per tonne in 2016; however, from 2017 to 2018, export prices stood at a somewhat lower figure.

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

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Spain, while the other leaders experienced more modest paces of growth.

Lard Imports

Imports into Iceland

In 2018, the amount of lard imported into Iceland stood at X tonnes, coming down by -X% against the previous year. Over the period under review, lard imports continue to indicate a deep decrease. The pace of growth was the most pronounced in 2016 with an increase of X% y-o-y. Iceland imports peaked at X tonnes in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

In value terms, lard imports stood at $X in 2018. Over the period under review, lard imports continue to indicate an abrupt reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Iceland imports peaked at $X in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

Imports by Country

In 2018, Spain (X tonnes), distantly followed by the Netherlands (X tonnes), Mexico (X tonnes), Slovakia (X tonnes), Denmark (X tonnes) and France (X tonnes) represented the largest importers of lard, together achieving X% of total imports. Belgium (X tonnes), the UK (X tonnes), Germany (X tonnes), the U.S. (X tonnes), Portugal (X tonnes) and the Philippines (X tonnes) held a minor share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by the Philippines, while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Mexico ($X) and the Netherlands ($X) constituted the countries with the highest levels of imports in 2018, with a combined X% share of total imports. Denmark, Belgium, France, the U.S., the UK, Germany, Slovakia, Portugal, the Philippines and Iceland lagged somewhat behind, together comprising a further X terms of the main importing countries, Slovakia recorded the highest rates of growth with regard to imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The lard import price in Iceland stood at $X per tonne in 2018, waning by -X% against the previous year. Over the period under review, the lard import price, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2013 an increase of X% year-to-year. Iceland import price peaked at $X per tonne in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per tonne), while the Philippines ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Belgium, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform