Middle East: Rendered Pig Fat Market Overview 2021

Rendered Pig Fat Exports

Exports in the Middle East

In 2020, shipments abroad of lard and other pig fat (rendered) decreased by -X% to X kg, falling for the second consecutive year after four years of decline. In general, exports recorded a dramatic curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, exports attained the peak of X tonnes. from 2015 to 2020, the growth exports failed to regain the momentum.

In value terms, rendered pig fat exports reduced rapidly to $X in 2020. Over the period under review, exports saw a significant contraction. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, exports attained the peak of $X. from 2015 to 2020, the growth exports remained at a lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X kg), together amounting to X% of total export.

The United Arab Emirates was also the fastest-growing in terms of the lard and other pig fat (rendered) exports, with a CAGR of -X% from 2013 to 2020. The United Arab Emirates (+X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, rendered pig fat exports declined by an average annual rate of -X% over the period from 2013-2020.

Export Prices by Country

In 2020, the rendered pig fat export price in the Middle East amounted to $X per tonne, picking up by X% against the previous year. In general, the export price enjoyed a significant increase. The growth pace was the most rapid in 2019 an increase of X% y-o-y. As a result, export price attained the peak level of $X per tonne, leveling off in the following year.

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

From 2013 to 2020, the rate of growth in terms of prices for the United Arab Emirates amounted to +X% per year.

Rendered Pig Fat Imports

Imports in the Middle East

In 2020, rendered pig fat imports in the Middle East reduced rapidly to X tonnes, with a decrease of -X% compared with 2019 figures. Overall, imports showed a sharp setback. The most prominent rate of growth was recorded in 2019 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at X tonnes in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, rendered pig fat imports contracted dramatically to $X in 2020. In general, imports showed a sharp slump. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

Saudi Arabia was the key importing country with an import of about X tonnes, which amounted to X% of total imports. The United Arab Emirates (X tonnes) ranks second in terms of the total imports with a X% share, followed by Israel (X%). Bahrain (X kg) followed a long way behind the leaders.

From 2007 to 2020, average annual rates of growth with regard to rendered pig fat imports into Saudi Arabia stood at +X%. At the same time, Bahrain (+X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +X% from 2007-2020. By contrast, Israel (-X%) and the United Arab Emirates (-X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+X p.p.), Israel (+X p.p.) and Bahrain (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of the United Arab Emirates (-X p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X), Bahrain ($X) and Israel ($X) were the countries with the highest levels of imports in 2020, with a combined X% share of total imports.

Among the main importing countries, Bahrain saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The rendered pig fat import price in the Middle East stood at $X per tonne in 2020, surging by X% against the previous year. In general, the import price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when the import price increased by X% year-to-year. The level of import peaked in 2020 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Bahrain ($X per tonne), while the United Arab Emirates ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the United Arab Emirates, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform