Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy - 2024
Contents:
- Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy (FOB) - 2024
- Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy (CIF) - 2022
- Exports of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy
- Imports of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy
Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy (FOB) - 2024
The average export price for pig fat; not lard, other than that of heading 0209 or 1503s stood at $1,577 per ton in March 2024, reducing by -5% against the previous month. In general, export price indicated a notable expansion from March 2023 to March 2024: its price increased at an average monthly rate of +2.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2024 figures, export price for pig fat; not lard, other than that of heading 0209 or 1503s increased by +76.6% against July 2023 indices. The pace of growth was the most pronounced in January 2024 an increase of 48% month-to-month. Over the period under review, the average export prices hit record highs at $1,660 per ton in February 2024, and then dropped slightly in the following month.
As there is only one major export destination, the average price level is determined by prices for Serbia.
From March 2023 to March 2024, the rate of growth in terms of prices for Germany amounted to +9.1% per month.
Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy (CIF) - 2022
In 2022, the average import price for pig fat; not lard, other than that of heading 0209 or 1503s amounted to $1,092 per ton, rising by 26% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 223%. As a result, import price attained the peak level of $1,136 per ton; afterwards, it flattened through to 2022.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($1,538 per ton), while the price for Romania ($469 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy
In 2022, approx. 9.3K tons of pig fat; not lard, other than that of heading 0209 or 1503s were exported from Italy; shrinking by -13.5% on 2021. The total export volume increased at an average annual rate of +1.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 when exports increased by 30%. As a result, the exports attained the peak of 11K tons, and then declined in the following year.
In value terms, exports of pig fat; not lard, other than that of heading 0209 or 1503s rose to $13M in 2022. Over the period under review, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 87%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the near future.
| Export of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 3.5 | 2.6 | 5.4 | 6.5 | 22.9% |
| Austria | 0.7 | 1.2 | N/A | 2.4 | 50.8% |
| Spain | 1.0 | 2.2 | 3.1 | 1.4 | 11.9% |
| Belgium | N/A | 0.1 | 1.9 | 1.2 | 246.4% |
| Germany | N/A | N/A | 1.6 | 0.9 | -43.8% |
| France | 0.9 | 0.8 | 0.9 | 0.7 | -8.0% |
| Others | 0.1 | N/A | N/A | 0.1 | 0.0% |
| Total | 6.2 | 6.9 | 12.9 | 13.2 | 28.6% |
Top Export Markets for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 from Italy in 2022:
- Netherlands (4.6K tons)
- Austria (1.7K tons)
- Spain (1.0K tons)
- Belgium (0.9K tons)
- Germany (0.6K tons)
- France (0.5K tons)
Imports of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy
Imports of pig fat; not lard, other than that of heading 0209 or 1503s into Italy skyrocketed to 1.5K tons in 2022, picking up by 29% on the previous year. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2021 with an increase of 725% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of pig fat; not lard, other than that of heading 0209 or 1503s skyrocketed to $1.6M in 2022. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 665% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 2.4 | N/A | 380 | 640 | 543.7% |
| France | 165 | 152 | 539 | 393 | 33.5% |
| Bulgaria | N/A | N/A | 78.7 | 215 | 173.2% |
| Spain | N/A | N/A | 14.7 | 123 | 736.7% |
| Hungary | 124 | N/A | 33.6 | 120 | -1.1% |
| Romania | 231 | N/A | 171 | 111 | -21.7% |
| Others | 12.3 | 7.9 | 1.8 | 27.3 | 30.4% |
| Total | 534 | 159 | 1,219 | 1,629 | 45.0% |
Top Suppliers of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 to Italy in 2022:
- Germany (435.5 tons)
- Bulgaria (279.0 tons)
- France (269.8 tons)
- Romania (237.5 tons)
- Hungary (184.9 tons)
- Spain (79.9 tons)
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