Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Malaysia - 2023
Contents:
- Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Malaysia (CIF) - 2022
- Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Malaysia
Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Malaysia (CIF) - 2022
In 2022, the average import price for pig fat; lard, other than that of heading 0209 and 1503s amounted to $3,576 per ton, jumping by 17% against the previous year. Over the period under review, the import price continues to indicate a resilient expansion. The growth pace was the most rapid in 2021 when the average import price increased by 97%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($5,000 per ton), while the price for Germany ($1,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+16.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Malaysia
In 2022, supplies from abroad of pig fat; lard, other than that of heading 0209 and 1503s decreased by -95.2% to 22 kg, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a sharp decrease. The growth pace was the most rapid in 2020 when imports increased by 1,621% against the previous year. As a result, imports reached the peak of 22 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of pig fat; lard, other than that of heading 0209 and 1503s declined markedly to $74 in 2022. Over the period under review, imports continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 1,586% against the previous year. As a result, imports reached the peak of $33K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 1.7 | 31.1 | 1.3 | 0.1 | -61.1% |
| Spain | N/A | N/A | N/A | N/A | 0% |
| Hong Kong SAR | 0.1 | 2.0 | 0.1 | N/A | 0.0% |
| Germany | N/A | 0.2 | N/A | N/A | 0% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 2.0 | 33.4 | 1.4 | 0.1 | -63.2% |
Top Suppliers of Pig Fat; Lard, Other than That of Heading 0209 and 1503 to Malaysia in 2022:
- Netherlands (19.0 kg)
- Germany (1.0 kg)
- Hong Kong SAR (1.0 kg)
- Spain (1.0 kg)
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