Central Asia: Pig Fat Market 2024

Pig Fat Market Size in Central Asia

The Central Asian pig fat market expanded rapidly to $X in 2022, growing by 11% against the previous year. Overall, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Pig Fat Production in Central Asia

In value terms, pig fat production expanded slightly to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.6% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by 41%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Pig Fat Exports

Exports in Central Asia

For the fifth year in a row, Central Asia recorded decline in overseas shipments of pig fat, which decreased by -97.1% to X tons in 2022. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 5,112% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, pig fat exports dropped significantly to $X in 2022. Overall, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 8,885% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Kazakhstan (X tons) was the key exporter of pig fat in Central Asia, achieving 100% of total export.

Kazakhstan was also the fastest-growing in terms of the pig fat exports, with a CAGR of -9.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest pig fat supplier in Central Asia.

In Kazakhstan, pig fat exports decreased by an average annual rate of -7.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, dropping by -42.3% against the previous year. In general, the export price, however, continues to indicate a temperate increase. The most prominent rate of growth was recorded in 2015 when the export price increased by 72%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2022, the rate of growth in terms of prices for Kazakhstan amounted to +2.0% per year.

Pig Fat Imports

Imports in Central Asia

Pig fat imports soared to X tons in 2022, rising by 22% against the previous year's figure. Overall, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 137% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, pig fat imports expanded significantly to $X in 2022. Over the period under review, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 76% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Mongolia was the main importer of pig fat in Central Asia, with the volume of imports finishing at X tons, which was approx. 49% of total imports in 2022. Turkmenistan (X tons) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by Uzbekistan (22%) and Kazakhstan (4.6%).

Mongolia was also the fastest-growing in terms of the pig fat imports, with a CAGR of +12.2% from 2012 to 2022. At the same time, Turkmenistan (+11.7%) displayed positive paces of growth. By contrast, Kazakhstan (-19.1%) and Uzbekistan (-19.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mongolia, Uzbekistan and Turkmenistan increased by +42, +22 and +21 percentage points, respectively.

In value terms, Mongolia ($X), Turkmenistan ($X) and Uzbekistan ($X) were the countries with the highest levels of imports in 2022, together accounting for 90% of total imports.

Mongolia, with a CAGR of +8.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, waning by -7.6% against the previous year. In general, the import price recorded a mild decrease. The pace of growth was the most pronounced in 2019 an increase of 20% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+4.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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