India: Wool Grease Market Overview 2021

Wool Grease Market Size in India

In 2019, after two years of growth, there was significant decline in the Indian wool grease market, when its value decreased by -X% to $X. The market value increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2019, consumption remained at a lower figure.

Wool Grease Production in India

In value terms, wool grease production skyrocketed to $X in 2019 estimated in export prices. In general, production recorded a remarkable increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

The average yield of wool grease in India stood at X kg per head in 2019, remaining relatively unchanged against 2018. Over the period under review, the yield recorded a relatively flat trend pattern.

In 2019, number of animals slaughtered for wool grease production in India stood at X head, therefore, remained relatively stable against the previous year's figure. Over the period under review, the number of producing animals recorded a relatively flat trend pattern.

Wool Grease Exports

Exports from India

In 2019, wool grease exports from India dropped dramatically to X tonnes, shrinking by -X% against 2018. Over the period under review, exports showed a deep slump. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. Exports peaked at X tonnes in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

In value terms, wool grease exports contracted notably to $X in 2019. In general, exports posted a pronounced expansion. The growth pace was the most rapid in 2018 when exports increased by X% year-to-year. As a result, exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

Egypt (X tonnes) was the main destination for wool grease exports from India, with a X% share of total exports. Moreover, wool grease exports to Egypt exceeded the volume sent to the second major destination, Russia (X tonnes), eightfold.

From 2007 to 2019, the average annual rate of growth in terms of volume to Egypt amounted to -X%.

In value terms, Egypt ($X) remains the key foreign market for wool grease exports from India, comprising X% of total exports. The second position in the ranking was occupied by Russia ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Egypt stood at +X%.

Export Prices by Country

The average wool grease export price stood at $X per tonne in 2019, growing by X% against the previous year. Overall, the export price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2011 an increase of X% y-o-y. The export price peaked at $X per tonne in 2012; however, from 2013 to 2019, export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2019, the country with the highest price was Egypt ($X per tonne), while the average price for exports to Russia totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Egypt.

Wool Grease Imports

Imports into India

In 2019, approx. X tonnes of wool grease were imported into India; falling by -X% compared with 2018. In general, imports showed a slight reduction. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. As a result, imports reached the peak of X tonnes. From 2018 to 2019, the growth imports remained at a lower figure.

In value terms, wool grease imports fell remarkably to $X in 2019. Overall, total imports indicated modest growth from 2007 to 2019: its value decreased at an average annual rate of -X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Imports peaked at $X in 2014; however, from 2015 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Australia (X tonnes) constituted the largest wool grease supplier to India, accounting for a X% share of total imports. Moreover, wool grease imports from Australia exceeded the figures recorded by the second-largest supplier, South Africa (X tonnes), fourfold. Algeria (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Australia totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+X% per year) and Algeria (+X% per year).

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

From 2007 to 2019, the average annual rate of growth in terms of value from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+X% per year) and New Zealand (-X% per year).

Import Prices by Country

In 2019, the average wool grease import price amounted to $X per tonne, surging by X% against the previous year. Over the last twelve years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2011; however, from 2012 to 2019, import prices remained at a lower figure.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Algeria, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wool grease in the world?

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The countries with the highest volumes of wool grease consumption in 2019 were Australia (803K tonnes), China (688K tonnes) and South Africa (208K tonnes), with a combined 58% share of global consumption.

What are the largest producers of wool grease in the world?

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The country with the largest volume of wool grease production was Australia (1.2M tonnes), accounting for 36% of total volume. Moreover, wool grease production in Australia exceeded the figures recorded by the second-largest producer, South Africa (572K tonnes), twofold. China (422K tonnes) ranked third in terms of total production with a 12% share.

What are the leading suppliers of wool grease to India?

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In value terms, Australia ($222M) constituted the largest supplier of wool grease to India, comprising 72% of total imports. The second position in the ranking was occupied by South Africa ($33M), with a 11% share of total imports. It was followed by New Zealand, with a 2.1% share.

What are the leading importers of wool grease from India?

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In value terms, Egypt ($957K) remains the key foreign market for wool grease exports from India, comprising 91% of total exports. The second position in the ranking was occupied by Russia ($82K), with a 7.8% share of total exports.

What is the average export price for wool grease in India?

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The average wool grease export price stood at $4,622 per tonne in 2019, picking up by 23% against the previous year.

What is the average import price for wool grease in India?

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In 2019, the average wool grease import price amounted to $4,946 per tonne, rising by 3.1% against the previous year.