Price for Fats and Oils and Their Fractions; of Marine Mammals in Norway - 2023
Contents:
- Price for Fats and Oils and Their Fractions; of Marine Mammals in Norway (FOB) - 2022
- Price for Fats and Oils and Their Fractions; of Marine Mammals in Norway (CIF) - 2023
- Exports of Fats and Oils and Their Fractions; of Marine Mammals in Norway
- Imports of Fats and Oils and Their Fractions; of Marine Mammals in Norway
Price for Fats and Oils and Their Fractions; of Marine Mammals in Norway (FOB) - 2022
The average export price for fats and oils and their fractions; of marine mammalses stood at $54,593 per ton in 2022, picking up by 30% against the previous year. In general, the export price recorded a significant expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 196%. The export price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($57,242 per ton), while the average price for exports to the Czech Republic stood at $5,781 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Fats and Oils and Their Fractions; of Marine Mammals in Norway (CIF) - 2023
The average import price for fats and oils and their fractions; of marine mammalses stood at $7,059 per ton in December 2023, approximately reflecting the previous month. In general, the import price saw a deep slump. As a result, import price attained the peak level of $36,271 per ton. From May 2023 to December 2023, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Canada.
From April 2023 to December 2023, the rate of growth in terms of prices for Canada amounted to -18.5% per month.
Exports of Fats and Oils and Their Fractions; of Marine Mammals in Norway
In 2022, the amount of fats and oils and their fractions; of marine mammalses exported from Norway surged to 38 tons, jumping by 202% compared with the year before. Over the period under review, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of fats and oils and their fractions; of marine mammalses skyrocketed to $2.1M in 2022. In general, exports saw a significant increase. The growth pace was the most rapid in 2021 when exports increased by 333% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Fats and Oils and Their Fractions; of Marine Mammals in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.8 | 61.1 | 505 | 2,025 | 710.7% |
| Hong Kong SAR | 41.7 | 3.3 | N/A | 21.6 | -19.7% |
| Czech Republic | N/A | N/A | N/A | 7.9 | 0% |
| Others | 5.4 | 57.0 | 20.3 | 12.6 | 32.6% |
| Total | 50.8 | 121 | 525 | 2,067 | 243.9% |
Top Export Markets for Fats and Oils and Their Fractions; of Marine Mammals from Norway in 2022:
- China (35.4 tons)
- Czech Republic (1.4 tons)
- Hong Kong SAR (0.6 tons)
Imports of Fats and Oils and Their Fractions; of Marine Mammals in Norway
In 2022, approx. 9.9 tons of fats and oils and their fractions; of marine mammalses were imported into Norway; with a decrease of -38.2% compared with the previous year's figure. Overall, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 583% against the previous year. As a result, imports attained the peak of 16 tons, and then shrank rapidly in the following year.
In value terms, imports of fats and oils and their fractions; of marine mammalses dropped dramatically to $62K in 2022. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 513% against the previous year. As a result, imports attained the peak of $107K, and then reduced notably in the following year.
| Import of Fats and Oils and Their Fractions; of Marine Mammals in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Denmark | 2.3 | N/A | N/A | 24.4 | 119.7% |
| Canada | N/A | 9.7 | 98.3 | 13.0 | 15.8% |
| Sweden | 7.4 | 3.9 | 3.7 | 0.2 | -70.0% |
| United Kingdom | 7.4 | N/A | N/A | N/A | 0% |
| Others | 17.0 | 3.9 | 5.4 | 24.9 | 13.6% |
| Total | 34.1 | 17.5 | 107 | 62.4 | 22.3% |
Top Suppliers of Fats and Oils and Their Fractions; of Marine Mammals to Norway in 2022:
- Denmark (4.0 tons)
- Canada (1.9 tons)
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