Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States - 2024
Contents:
- Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States (CIF) - 2024
- Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States (FOB) - 2024
- Imports of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States
- Exports of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States
Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States (CIF) - 2024
The average import price for pig fat; not lard, other than that of heading 0209 or 1503s stood at $864 per ton in May 2024, increasing by 14% against the previous month. Over the period under review, the import price, however, saw a perceptible decline. The pace of growth was the most pronounced in February 2024 when the average import price increased by 19% m-o-m. The import price peaked at $1,293 per ton in October 2023; however, from November 2023 to May 2024, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In May 2024, the country with the highest price was Brazil ($900 per ton), while the price for Canada ($789 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was attained by Canada (-2.6%), while the prices for the other major suppliers experienced a decline.
Price for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States (FOB) - 2024
In May 2024, the average export price for pig fat; not lard, other than that of heading 0209 or 1503s amounted to $802 per ton, remaining stable against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 when the average export price increased by 32% m-o-m. Over the period under review, the average export prices reached the peak figure at $880 per ton in December 2023; however, from January 2024 to May 2024, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In May 2024, the country with the highest price was Canada ($880 per ton), while the average price for exports to Mexico ($496 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States
In 2022, the amount of pig fat; not lard, other than that of heading 0209 or 1503s imported into the United States soared to 37K tons, with an increase of 61% compared with 2021. Overall, imports continue to indicate a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of pig fat; not lard, other than that of heading 0209 or 1503s soared to $54M in 2022. In general, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 12.6 | 10.2 | 23.3 | 50.6 | 58.9% |
| Mexico | N/A | N/A | N/A | 2.3 | 0% |
| Brazil | N/A | N/A | N/A | 1.5 | 0% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 12.6 | 10.2 | 23.3 | 54.4 | 62.8% |
Top Suppliers of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 to the United States in 2022:
- Canada (34.3K tons)
- Mexico (1.6K tons)
- Brazil (1.0K tons)
Exports of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States
In 2022, overseas shipments of pig fat; not lard, other than that of heading 0209 or 1503s decreased by -60.4% to 34K tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 55% against the previous year. As a result, the exports reached the peak of 411K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of pig fat; not lard, other than that of heading 0209 or 1503s declined rapidly to $51M in 2022. Overall, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2020 when exports increased by 38%. As a result, the exports reached the peak of $262M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 6.9 | 5.5 | 9.7 | 27.0 | 57.6% |
| United Kingdom | 21.2 | 32.4 | 53.9 | 21.5 | 0.5% |
| Canada | 0.3 | 0.5 | 0.8 | 1.8 | 81.7% |
| Singapore | 123 | 187 | 16.6 | N/A | -63.3% |
| Netherlands | 33.7 | 31.2 | 3.4 | N/A | -68.2% |
| Others | 4.5 | 5.8 | 0.4 | 0.2 | -64.6% |
| Total | 190 | 262 | 85.0 | 50.6 | -35.7% |
Top Export Markets for Pig Fat; Not Lard, Other than That of Heading 0209 or 1503 from the United States in 2022:
- Germany (16.6K tons)
- United Kingdom (14.5K tons)
- Canada (2.0K tons)
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