South-Eastern Asia: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in South-Eastern Asia

The Southeast Asian rendered pig fat market surged to $X in 2022, increasing by X% against the previous year. Overall, consumption saw a significant expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Rendered Pig Fat Production in South-Eastern Asia

In value terms, rendered pig fat production soared to $X in 2022 estimated in export price. In general, production showed a significant expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Rendered Pig Fat Exports

Exports in South-Eastern Asia

In 2022, rendered pig fat exports in South-Eastern Asia contracted rapidly to X kg, waning by X% on 2021 figures. In general, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, rendered pig fat exports dropped significantly to $X in 2022. Over the period under review, exports recorded a precipitous contraction. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore prevails in exports structure, amounting to X kg, which was approx. X% of total exports in 2022. The Philippines (X kg) held a relatively small share of total exports.

Singapore was also the fastest-growing in terms of the lard and other pig fat (rendered) exports, with a CAGR of X% from 2012 to 2022. The Philippines (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and the Philippines increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest rendered pig fat supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to X%.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Singapore totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%).

Rendered Pig Fat Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of lard and other pig fat (rendered) decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, rendered pig fat imports fell remarkably to $X in 2022. In general, imports faced a precipitous decline. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then shrank notably in the following year.

Imports by Country

The Philippines was the major importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Vietnam (X tons) and Malaysia (X tons), together constituting an X% share of total imports.

Imports into the Philippines increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines, Vietnam and Malaysia increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported lard and other pig fat (rendered) in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the Philippines totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, surging by X% against the previous year. In general, the import price saw significant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :