Southern Asia: Rendered Pig Fat Market 2023

Rendered Pig Fat Market Size in Southern Asia

In 2021, after four years of growth, there was significant decline in the South Asian rendered pig fat market, when its value decreased by -15.2% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then reduced remarkably in the following year.

Rendered Pig Fat Production in Southern Asia

In value terms, rendered pig fat production reduced to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 5.3% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped in the following year.

Rendered Pig Fat Exports

Exports in Southern Asia

In 2021, overseas shipments of lard and other pig fat (rendered) decreased by -85.7% to X kg, falling for the fifth year in a row after two years of growth. Overall, exports continue to indicate a deep slump. The growth pace was the most rapid in 2013 with an increase of 7,150% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, rendered pig fat exports reduced notably to $X in 2021. Over the period under review, exports saw a sharp curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 5,577% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from India (X kg), together finishing at 100% of total export.

India was also the fastest-growing in terms of the lard and other pig fat (rendered) exports, with a CAGR of -7.4% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest rendered pig fat supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India amounted to -20.1%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, rising by 17% against the previous year. Overall, the export price, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2018 when the export price increased by 3,189%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -13.7% per year.

Rendered Pig Fat Imports

Imports in Southern Asia

In 2021, rendered pig fat imports in Southern Asia plummeted to X tons, waning by -39.4% against 2020. Overall, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 173% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, rendered pig fat imports fell sharply to $X in 2021. Over the period under review, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 214% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then fell rapidly in the following year.

Imports by Country

In 2021, India (X tons) represented the main importer of lard and other pig fat (rendered) in Southern Asia, mixing up 99.9% of total import.

India was also the fastest-growing in terms of the lard and other pig fat (rendered) imports, with a CAGR of +16.4% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported lard and other pig fat (rendered) in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India totaled +12.6%.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, with a decrease of -36.2% against the previous year. Over the period under review, the import price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2019 an increase of 128% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -3.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :