Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR - 2024
Contents:
- Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR (CIF) - 2024
- Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR (FOB) - 2024
- Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR
- Exports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR
Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR (CIF) - 2024
In March 2024, the average import price for pig fat; lard, other than that of heading 0209 and 1503s amounted to $2,223 per ton, dropping by -10.8% against the previous month. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2024 an increase of 22% m-o-m. The import price peaked at $2,535 per ton in April 2023; however, from May 2023 to March 2024, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In March 2024, the country with the highest price was Japan ($7,365 per ton), while the price for Canada ($1,496 per ton) was amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was attained by Japan (+4.5%), while the prices for the other major suppliers experienced a decline.
Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR (FOB) - 2024
The average export price for pig fat; lard, other than that of heading 0209 and 1503s stood at $2,559 per ton in March 2024, which is down by -4.8% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2023 an increase of 10% m-o-m. As a result, the export price reached the peak level of $3,067 per ton. From September 2023 to March 2024, the the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Macao SAR.
From March 2023 to March 2024, the rate of growth in terms of prices for Macao SAR amounted to -0.4% per month.
Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR
Imports of pig fat; lard, other than that of heading 0209 and 1503s into Hong Kong SAR shrank significantly to 2.9K tons in 2022, falling by -19% on the previous year's figure. In general, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 48%.
In value terms, imports of pig fat; lard, other than that of heading 0209 and 1503s skyrocketed to $6.7M in 2022. Over the period under review, total imports indicated a perceptible increase from 2019 to 2022: its value increased at an average annual rate of +2.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 68% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 3.7 | 2.2 | 3.6 | 4.2 | 4.3% |
| Canada | 1.2 | 1.0 | 1.6 | 1.8 | 14.5% |
| Belgium | N/A | N/A | 0.1 | 0.2 | 100.0% |
| China | 0.9 | N/A | N/A | 0.1 | -51.9% |
| Spain | 0.2 | 0.1 | 0.2 | 0.1 | -20.6% |
| Others | 0.3 | 0.1 | 0.2 | 0.2 | -12.6% |
| Total | 6.3 | 3.4 | 5.7 | 6.7 | 2.1% |
Top Suppliers of Pig Fat; Lard, Other than That of Heading 0209 and 1503 to Hong Kong SAR in 2022:
- Netherlands (1854.0 tons)
- Canada (818.3 tons)
- Belgium (99.4 tons)
- Spain (62.7 tons)
- China (52.0 tons)
Exports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR
In 2022, overseas shipments of pig fat; lard, other than that of heading 0209 and 1503s decreased by -87.3% to 259 tons, falling for the second year in a row after two years of growth. In general, exports faced a drastic downturn. The pace of growth was the most pronounced in 2020 when exports increased by 449% against the previous year. As a result, the exports attained the peak of 2.5K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of pig fat; lard, other than that of heading 0209 and 1503s fell significantly to $592K in 2022. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 740%. As a result, the exports attained the peak of $5.9M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 0.7 | 0.3 | 0.6 | 0.6 | -5.0% |
| Philippines | N/A | 5.5 | 4.7 | N/A | -14.5% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 0.7 | 5.9 | 5.4 | 0.6 | -5.0% |
Top Export Markets for Pig Fat; Lard, Other than That of Heading 0209 and 1503 from Hong Kong SAR in 2022:
- Macao SAR (259.5 tons)
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