Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States - 2024
Contents:
- Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States (FOB) - 2024
- Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States (CIF) - 2024
- Exports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States
- Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States
Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States (FOB) - 2024
In May 2024, the average export price for pig fat; lard, other than that of heading 0209 and 1503s amounted to $1,448 per ton, growing by 5.9% against the previous month. In general, the export price, however, showed a mild shrinkage. The export price peaked at $1,738 per ton in November 2023; however, from December 2023 to May 2024, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Mexico.
From May 2023 to May 2024, the rate of growth in terms of prices for Mexico amounted to -1.5% per month.
Price for Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States (CIF) - 2024
The average import price for pig fat; lard, other than that of heading 0209 and 1503s stood at $1,216 per ton in May 2024, rising by 2.9% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2024 when the average import price increased by 4.8% m-o-m. The import price peaked in May 2024.
Average prices varied somewhat amongst the major supplying countries. In May 2024, the country with the highest price was Mexico ($1,483 per ton), while the price for Canada totaled $1,170 per ton.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was attained by Mexico (+1.6%).
Exports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States
In 2022, the amount of pig fat; lard, other than that of heading 0209 and 1503s exported from the United States contracted rapidly to 27K tons, waning by -66.9% on 2021. Overall, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 350% against the previous year. As a result, the exports attained the peak of 81K tons, and then dropped notably in the following year.
In value terms, exports of pig fat; lard, other than that of heading 0209 and 1503s dropped rapidly to $44M in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 520%. As a result, the exports reached the peak of $107M, and then dropped notably in the following year.
| Export of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 19.7 | 16.7 | 106 | 43.0 | 29.7% |
| Others | 0.4 | 0.6 | 1.0 | 0.5 | 7.7% |
| Total | 20.1 | 17.3 | 107 | 43.5 | 29.3% |
Top Export Markets for Pig Fat; Lard, Other than That of Heading 0209 and 1503 from the United States in 2022:
- Mexico (26.7K tons)
Imports of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States
In 2022, approx. 15K tons of pig fat; lard, other than that of heading 0209 and 1503s were imported into the United States; picking up by 88% compared with the previous year. Over the period under review, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of pig fat; lard, other than that of heading 0209 and 1503s surged to $17M in 2022. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.
| Import of Pig Fat; Lard, Other than That of Heading 0209 and 1503 in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 6.5 | 5.6 | 9.1 | 13.1 | 26.3% |
| Mexico | 1.0 | 0.8 | 1.7 | 3.7 | 54.7% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 7.4 | 6.4 | 10.8 | 16.8 | 31.4% |
Top Suppliers of Pig Fat; Lard, Other than That of Heading 0209 and 1503 to the United States in 2022:
- Canada (11.7K tons)
- Mexico (3.1K tons)
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