Middle East: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in the Middle East

The Middle Eastern rendered pig fat market dropped significantly to $X in 2022, waning by X% against the previous year. In general, consumption saw a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Rendered Pig Fat Production in the Middle East

In value terms, rendered pig fat production amounted to $X in 2022 estimated in export price. The total production indicated noticeable growth 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Rendered Pig Fat Exports

Exports in the Middle East

In 2022, shipments abroad of lard and other pig fat (rendered) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, rendered pig fat exports declined sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

The shipments of the one major exporters of lard and other pig fat (rendered), namely Turkey, represented more than two-thirds of total export.

Turkey was also the fastest-growing in terms of the lard and other pig fat (rendered) exports, with a CAGR of X% from 2013 to 2022. From 2013 to 2022, the share of Turkey increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest rendered pig fat supplier in the Middle East.

In Turkey, rendered pig fat exports expanded at an average annual rate of X% over the period from 2013-2022.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, rising by X% against the previous year. Overall, the export price continues to indicate a prominent expansion. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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

From 2013 to 2022, the rate of growth in terms of prices for Turkey amounted to X% per year.

Rendered Pig Fat Imports

Imports in the Middle East

In 2022, the amount of lard and other pig fat (rendered) imported in the Middle East contracted dramatically to X tons, which is down by X% compared with 2021 figures. In general, imports saw a pronounced downturn. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted dramatically in the following year.

In value terms, rendered pig fat imports declined sharply to $X in 2022. Overall, imports recorded a abrupt slump. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Israel was the main importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Saudi Arabia (X tons), achieving a X% share of total imports. Turkey (X tons) took a relatively small share of total imports.

Imports into Israel increased at an average annual rate of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Turkey (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Israel and Saudi Arabia increased by X and X percentage points, respectively.

In value terms, Israel ($X), Saudi Arabia ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2018 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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