Price for Tallow; Other than Those of Heading 1503 in Canada - 2023
Contents:
- Price for Tallow; Other than Those of Heading 1503 in Canada (FOB) - 2023
- Price for Tallow; Other than Those of Heading 1503 in Canada (CIF) - 2023
- Exports of Tallow; Other than Those of Heading 1503 in Canada
- Imports of Tallow; Other than Those of Heading 1503 in Canada
Price for Tallow; Other than Those of Heading 1503 in Canada (FOB) - 2023
In September 2023, the average export price for tallow; other than those of heading 1503s amounted to $1,781 per ton, increasing by 4.3% against the previous month. Overall, the export price, however, saw a slight reduction. The most prominent rate of growth was recorded in May 2023 when the average export price increased by 14% m-o-m. Over the period under review, the average export prices attained the maximum at $2,031 per ton in December 2022; however, from January 2023 to September 2023, 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 the United States.
From December 2022 to September 2023, the rate of growth in terms of prices for the United States amounted to -1.4% per month.
Price for Tallow; Other than Those of Heading 1503 in Canada (CIF) - 2023
In September 2023, the average import price for tallow; other than those of heading 1503s amounted to $1,675 per ton, with an increase of 10% against the previous month. Overall, the import price, however, recorded a mild descent. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 155% month-to-month. As a result, import price attained the peak level of $3,599 per ton. From June 2023 to September 2023, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From December 2022 to September 2023, the rate of growth in terms of prices for the United States amounted to -1.6% per month.
Exports of Tallow; Other than Those of Heading 1503 in Canada
Exports of tallow; other than those of heading 1503s from Canada expanded sharply to 260K tons in 2022, growing by 9.7% on 2021. The total export volume increased at an average annual rate of +9.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 10%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, exports of tallow; other than those of heading 1503s skyrocketed to $446M in 2022. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 68% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.
| Export of Tallow; Other than Those of Heading 1503 in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 131 | 175 | 280 | 437 | 49.4% |
| Japan | 11.1 | 6.1 | 7.7 | 8.6 | -8.2% |
| Singapore | 9.7 | N/A | 12.4 | N/A | 13.1% |
| Others | 1.3 | 0.1 | 3.6 | 0.9 | -11.5% |
| Total | 153 | 181 | 304 | 446 | 42.9% |
Top Export Markets for Tallow; Other than Those of Heading 1503 from Canada in 2022:
- United States (242.4K tons)
- Japan (16.0K tons)
Imports of Tallow; Other than Those of Heading 1503 in Canada
In 2022, overseas purchases of tallow; other than those of heading 1503s decreased by -8.6% to 56K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +21.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 52% against the previous year.
In value terms, imports of tallow; other than those of heading 1503s skyrocketed to $105M in 2022. Over the period under review, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 115% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
| Import of Tallow; Other than Those of Heading 1503 in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 22.8 | 38.3 | 82.9 | 104 | 65.8% |
| Others | 0.4 | 0.4 | 0.4 | 1.2 | 44.2% |
| Total | 23.2 | 38.7 | 83.4 | 105 | 65.4% |
Top Suppliers of Tallow; Other than Those of Heading 1503 to Canada in 2022:
- United States (55.4K tons)
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