Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Singapore - 2023
Contents:
- Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Singapore (CIF) - 2022
- Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Singapore
Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Singapore (CIF) - 2022
In 2022, the average import price for pig fat; lard, other than that of heading 0209 and 1503s amounted to $2,545 per ton, declining by -29.3% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 51% against the previous year. Over the period under review, average import prices hit record highs at $3,602 per ton in 2021, and then declined notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($14,142 per ton), while the price for the United States ($1,528 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.7%), while the prices for the other major suppliers experienced a decline.
Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Singapore
Imports of pig fat; lard, other than that of heading 0209 and 1503s into Singapore reduced remarkably to 11 tons in 2022, shrinking by -58.3% compared with the year before. Overall, imports faced a abrupt decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 32% against the previous year. As a result, imports reached the peak of 26 tons, and then dropped markedly in the following year.
In value terms, imports of pig fat; lard, other than that of heading 0209 and 1503s contracted sharply to $28K in 2022. In general, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2021 when imports increased by 54% against the previous year. As a result, imports reached the peak of $95K, and then declined rapidly in the following year.
| Import of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 14.3 | 21.5 | 13.9 | 15.2 | 2.1% |
| United States | 16.0 | 26.4 | 11.2 | 6.6 | -25.6% |
| United Kingdom | 6.8 | 12.7 | 7.0 | 5.5 | -6.8% |
| Norway | N/A | N/A | 52.9 | N/A | 0% |
| Malaysia | 4.6 | N/A | N/A | N/A | 0% |
| Poland | N/A | N/A | 9.0 | N/A | 0% |
| Others | 0.9 | 0.9 | 0.7 | 0.7 | -8.0% |
| Total | 42.6 | 61.5 | 94.7 | 28.0 | -13.1% |
Top Suppliers of Pig Fat; Lard, Other than That of Heading 0209 and 1503 to Singapore in 2022:
- Japan (6.2 tons)
- United States (4.3 tons)
- United Kingdom (0.4 tons)
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