CIS: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in CIS

The CIS rendered pig fat market soared to $X in 2021, jumping by 17% against the previous year. Overall, consumption, however, saw a deep downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Rendered Pig Fat Production in CIS

In value terms, rendered pig fat production declined to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Rendered Pig Fat Exports

Exports in CIS

In 2021, shipments abroad of lard and other pig fat (rendered) decreased by -39.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 42% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, rendered pig fat exports soared to $X in 2021. Overall, exports faced a abrupt curtailment. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Belarus prevails in exports structure, accounting for X tons, which was near 91% of total exports in 2021. It was distantly followed by Russia (X tons), achieving a 5.9% share of total exports. Armenia (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to rendered pig fat exports from Belarus stood at -13.4%. At the same time, Armenia (+84.7%) and Russia (+48.4%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +84.7% from 2012-2021. Russia (+5.9 p.p.) and Armenia (+2.9 p.p.) significantly strengthened its position in terms of the total exports, while Belarus saw its share reduced by -8.7% from 2012 to 2021, respectively.

In value terms, Belarus ($X) remains the largest rendered pig fat supplier in the CIS, comprising 94% of total exports. The second position in the ranking was held by Armenia ($X), with a 3.6% share of total exports.

In Belarus, rendered pig fat exports plunged by an average annual rate of -11.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Armenia (+84.7% per year) and Russia (+49.7% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, increasing by 109% against the previous year. Export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export 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 exporting countries. In 2021, the country with the highest price was Armenia ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+2.8%).

Rendered Pig Fat Imports

Imports in CIS

In 2021, the amount of lard and other pig fat (rendered) imported in the CIS declined markedly to X tons, which is down by -19.6% against 2020 figures. Overall, imports continue to indicate a significant curtailment. The pace of growth was the most pronounced in 2019 with an increase of 9%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, rendered pig fat imports skyrocketed to $X in 2021. Over the period under review, imports saw a sharp reduction. The growth pace was the most rapid in 2019 when imports increased by 34% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia prevails in imports structure, reaching X tons, which was approx. 97% of total imports in 2021. Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to rendered pig fat imports into Russia stood at -27.8%. Kazakhstan (-9.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Kazakhstan increased by +2.5 percentage points.

In value terms, Russia ($X) constitutes the largest market for imported lard and other pig fat (rendered) in the CIS, comprising 97% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 3.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia totaled -28.6%.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, jumping by 64% against the previous year. Over the period under review, the import price, however, saw a mild contraction. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Kazakhstan ($X per ton), while Russia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-1.0%).

Source: IndexBox Platform

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