Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada - 2024
Contents:
- Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada (FOB) - 2024
- Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada (CIF) - 2022
- Exports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada
- Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada
Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada (FOB) - 2024
The average export price for pig fat; lard, other than that of heading 0209 and 1503s stood at $1,060 per ton in March 2024, waning by -4.9% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2024 an increase of 8.6% month-to-month. As a result, the export price attained the peak level of $1,132 per ton; afterwards, it flattened through to March 2024.
There were significant differences in the average prices for the major foreign markets. In March 2024, the country with the highest price was the United States ($1,162 per ton), while the average price for exports to Taiwan (Chinese) ($630 per ton) was amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada (CIF) - 2022
The average import price for pig fat; lard, other than that of heading 0209 and 1503s stood at $1,978 per ton in 2022, with an increase of 20% against the previous year. Over the period under review, the import price recorded a temperate expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 39% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +3.2% per year.
Exports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada
In 2022, the amount of pig fat; lard, other than that of heading 0209 and 1503s exported from Canada surged to 17K tons, jumping by 39% against 2021. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 57%. The exports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, exports of pig fat; lard, other than that of heading 0209 and 1503s soared to $18M in 2022. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 64% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 6.3 | 5.7 | 9.1 | 13.3 | 28.3% |
| Mexico | 0.5 | 0.4 | 1.5 | 1.4 | 40.9% |
| New Zealand | 0.8 | 0.6 | 0.9 | 1.1 | 11.2% |
| Hong Kong SAR | 0.9 | 0.7 | 1.2 | 1.0 | 3.6% |
| Australia | 0.5 | 0.4 | 0.6 | 0.8 | 17.0% |
| Belize | 0.2 | 0.2 | 0.3 | 0.4 | 26.0% |
| China | 0.5 | 0.7 | 0.4 | N/A | -10.6% |
| Others | 0.5 | 0.2 | 0.2 | 0.4 | -7.2% |
| Total | 10.2 | 8.7 | 14.3 | 18.4 | 21.7% |
Top Export Markets for Pig Fat; Lard, Other than That of Heading 0209 and 1503 from Canada in 2022:
- United States (11.7K tons)
- Mexico (1.5K tons)
- New Zealand (1.3K tons)
- Hong Kong SAR (1.0K tons)
- Australia (0.9K tons)
- Belize (0.4K tons)
Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada
In 2022, approx. 107 tons of pig fat; lard, other than that of heading 0209 and 1503s were imported into Canada; which is down by -33.2% compared with 2021. In general, imports saw a dramatic slump. The smallest decline of -21.7% was in 2021.
In value terms, imports of pig fat; lard, other than that of heading 0209 and 1503s fell rapidly to $211K in 2022. Overall, imports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2021 when imports increased by 9.3%. As a result, imports reached the peak of $263K, and then fell significantly in the following year.
| Import of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Canada (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 243 | 232 | 260 | 209 | -4.9% |
| Others | 2.3 | 9.1 | 3.3 | 2.9 | 8.0% |
| Total | 245 | 241 | 263 | 211 | -4.9% |
Top Suppliers of Pig Fat; Lard, Other than That of Heading 0209 and 1503 to Canada in 2022:
- United States (104.7 tons)
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