Price for Tallow; Other than Those of Heading 1503 in Australia - 2023
Contents:
- Price for Tallow; Other than Those of Heading 1503 in Australia (FOB) - 2023
- Price for Tallow; Other than Those of Heading 1503 in Australia (CIF) - 2022
- Exports of Tallow; Other than Those of Heading 1503 in Australia
- Imports of Tallow; Other than Those of Heading 1503 in Australia
Price for Tallow; Other than Those of Heading 1503 in Australia (FOB) - 2023
In September 2023, the average export price for tallow; other than those of heading 1503s amounted to $1,399 per ton, with an increase of 23% against the previous month. Overall, the export price, however, showed a mild decrease. The export price peaked at $1,660 per ton in January 2023; however, from February 2023 to September 2023, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major export markets. In September 2023, the country with the highest price was the United States ($1,529 per ton), while the average price for exports to China ($1,097 per ton) was amongst the lowest.
From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.8%), while the prices for the other major destinations experienced a decline.
Price for Tallow; Other than Those of Heading 1503 in Australia (CIF) - 2022
The average import price for tallow; other than those of heading 1503s stood at $3,571 per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 an increase of 124%. The import price peaked in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($5,491 per ton), while the price for Sweden totaled $1,762 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+20.6%).
Exports of Tallow; Other than Those of Heading 1503 in Australia
Exports of tallow; other than those of heading 1503s from Australia soared to 462K tons in 2022, jumping by 18% on the previous year. The total export volume increased at an average annual rate of +4.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of tallow; other than those of heading 1503s surged to $711M in 2022. Overall, exports showed significant growth. The growth pace was the most rapid in 2021 when exports increased by 62% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Tallow; Other than Those of Heading 1503 in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 17.9 | 16.9 | 126 | 375 | 175.7% |
| Singapore | 156 | 205 | 278 | 264 | 19.2% |
| China | 32.6 | 43.1 | 38.6 | 24.3 | -9.3% |
| Malaysia | N/A | 0.6 | 1.1 | 17.9 | 446.2% |
| South Korea | 5.1 | 5.7 | 11.4 | 14.0 | 40.0% |
| Taiwan (Chinese) | 11.3 | 13.6 | 13.2 | 8.8 | -8.0% |
| Others | 7.7 | 6.7 | 4.5 | 7.0 | -3.1% |
| Total | 231 | 291 | 473 | 711 | 45.5% |
Top Export Markets for Tallow; Other than Those of Heading 1503 from Australia in 2022:
- United States (230.4K tons)
- Singapore (173.2K tons)
- Malaysia (26.0K tons)
- China (15.3K tons)
- South Korea (8.0K tons)
- Taiwan (Chinese) (5.3K tons)
Imports of Tallow; Other than Those of Heading 1503 in Australia
In 2022, imports of tallow; other than those of heading 1503s into Australia amounted to 1.2 tons, flattening at 2021 figures. Over the period under review, imports recorded a dramatic slump. The smallest decline of 99.9% was in 2021.
In value terms, imports of tallow; other than those of heading 1503s totaled $4.3K in 2022. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 30%. As a result, imports attained the peak of $8.6K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Tallow; Other than Those of Heading 1503 in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | N/A | N/A | N/A | 3.2 | 0% |
| Sweden | 5.0 | 8.6 | N/A | 1.1 | -39.6% |
| Lebanon | 1.6 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 6.6 | 8.6 | N/A | 4.3 | -13.3% |
Top Suppliers of Tallow; Other than Those of Heading 1503 to Australia in 2022:
- Sweden (618.0 kg)
- New Zealand (582.0 kg)
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