Australia and Oceania: Tallow Market 2024

Tallow Market Size in Australia and Oceania

The tallow market in Australia and Oceania reduced markedly to $X in 2022, which is down by -50.6% against the previous year. Overall, consumption saw a deep setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tallow Production in Australia and Oceania

In value terms, tallow production rose to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2020 with an increase of 9.7%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Tallow Exports

Exports in Australia and Oceania

In 2022, approx. X tons of tallow were exported in Australia and Oceania; increasing by 20% compared with 2021. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tallow exports surged to $X in 2022. Over the period under review, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 74% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Australia (X tons) represented the key exporter of tallow, constituting 71% of total exports. It was distantly followed by New Zealand (X tons), comprising a 29% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tallow exports from Australia stood at +2.6%. At the same time, New Zealand (+3.6%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +3.6% from 2012-2022. From 2012 to 2022, the share of New Zealand increased by +1.9 percentage points.

In value terms, Australia ($X) remains the largest tallow supplier in Australia and Oceania, comprising 73% of total exports. The second position in the ranking was held by New Zealand ($X), with a 27% share of total exports.

In Australia, tallow exports increased at an average annual rate of +8.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, increasing by 25% against the previous year. Overall, the export price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2021 an increase of 76% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.3%).

Tallow Imports

Imports in Australia and Oceania

In 2022, overseas purchases of tallow decreased by -9.8% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of 63% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tallow imports soared to $X in 2022. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 49% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

New Zealand was the largest importing country with an import of around X tons, which amounted to 46% of total imports. Samoa (X tons) ranks second in terms of the total imports with a 28% share, followed by Fiji (15%) and Papua New Guinea (9.6%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by New Zealand (with a CAGR of +6.4%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, New Zealand ($X) constitutes the largest market for imported tallow in Australia and Oceania, comprising 61% of total imports. The second position in the ranking was held by Samoa ($X), with a 15% share of total imports. It was followed by Fiji, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in New Zealand amounted to +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: Samoa (+0.9% per year) and Fiji (-9.8% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, increasing by 43% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tallow import price increased by +80.9% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Samoa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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