U.S.: Lard Market 2022

Lard Market Size in the U.S.

The U.S. lard market contracted remarkably to $X in 2021, waning by -X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Lard Production in the U.S.

In value terms, lard production fell modestly to $X in 2021. The total output value increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% y-o-y. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Lard Exports

Exports from the U.S.

In 2021, approx. X tonnes of lard were exported from the United States; jumping by X% against 2020 figures. Over the period under review, exports recorded a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lard exports skyrocketed to $X in 2021. In general, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tonnes) was the main destination for lard exports from the United States, with a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Mexico totaled +X%.

In value terms, Mexico ($X) also remains the key foreign market for lard exports from the United States.

From 2012 to 2021, the average annual growth rate of value to Mexico amounted to +X%.

Export Prices by Country

The average lard export price stood at $X per tonne in 2021, increasing by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for Mexico amounted to +X% per year.

Lard Imports

Imports into the U.S.

In 2021, purchases abroad of lard increased by X% to X tonnes for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lard imports soared to $X in 2021. In general, total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Canada (X tonnes) constituted the largest supplier of lard to the United States, with a X% share of total imports. Moreover, lard imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tonnes), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada was relatively modest.

In value terms, Canada ($X) constituted the largest supplier of lard to the United States, comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Canada was relatively modest.

Import Prices by Country

The average lard import price stood at $X per tonne in 2021, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per tonne in 2012; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per tonne), while the price for Canada totaled $X per tonne.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-X%).

Source: IndexBox Platform