Benelux: Lard Market 2024

Lard Market Size in Benelux

The Benelux lard market expanded modestly to $X in 2022, increasing by 4% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Lard Production in Benelux

In value terms, lard production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, saw a slight descent. The pace of growth appeared the most rapid in 2017 when the production volume increased by 20% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Lard Exports

Exports in Benelux

In 2022, the amount of lard exported in Benelux expanded modestly to X tons, picking up by 1.6% on 2021 figures. In general, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 55% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, lard exports surged to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 31% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium represented the major exporter of lard in Benelux, with the volume of exports accounting for X tons, which was near 73% of total exports in 2022. It was distantly followed by the Netherlands (X tons), mixing up a 27% share of total exports.

Belgium was also the fastest-growing in terms of the lard exports, with a CAGR of -4.6% from 2012 to 2022. The Netherlands (-6.1%) illustrated a downward trend over the same period. While the share of Belgium (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-3.2 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Belgium, with a CAGR of -0.4%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, increasing by 19% against the previous year. Overall, the export price enjoyed a perceptible increase. The pace of growth was the most pronounced in 2021 an increase of 44% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.7%).

Lard Imports

Imports in Benelux

In 2022, purchases abroad of lard increased by 4.5% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 76%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, lard imports skyrocketed to $X in 2022. In general, imports, however, showed a mild contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 126% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X tons) represented the key importer of lard, generating 67% of total imports. It was distantly followed by Belgium (X tons), mixing up a 33% share of total imports.

The Netherlands was also the fastest-growing in terms of the lard imports, with a CAGR of -1.9% from 2012 to 2022. Belgium (-6.4%) illustrated a downward trend over the same period. The Netherlands (+11 p.p.) significantly strengthened its position in terms of the total imports, while Belgium saw its share reduced by -11.1% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) and Belgium ($X) constituted the countries with the highest levels of imports in 2022.

In terms of the main importing countries, the Netherlands, with a CAGR of +0.3%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, growing by 15% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lard import price increased by +91.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 30% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.4%).

Source: IndexBox Platform