CIS: Pig Fat Market 2024

Pig Fat Market Size in CIS

In 2022, the CIS pig fat market increased by 20% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, saw a dramatic descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Pig Fat Production in CIS

In value terms, pig fat production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable decline. The most prominent rate of growth was recorded in 2018 with an increase of 5.7% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Pig Fat Exports

Exports in CIS

In 2022, exports of pig fat in the CIS rose significantly to X tons, increasing by 5.1% on the year before. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 114% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, pig fat exports fell to $X in 2022. In general, exports recorded significant growth. The growth pace was the most rapid in 2014 when exports increased by 119% against the previous year. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

Russia dominates exports structure, finishing at X tons, which was near 97% of total exports in 2022. Belarus (X tons) followed a long way behind the leaders.

Russia was also the fastest-growing in terms of the pig fat exports, with a CAGR of +38.2% from 2012 to 2022. Belarus (-4.7%) illustrated a downward trend over the same period. While the share of Russia (+52 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belarus (-50.9 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest pig fat supplier in the CIS, comprising 97% of total exports. The second position in the ranking was held by Belarus ($X), with a 3.2% share of total exports.

In Russia, pig fat exports increased at an average annual rate of +31.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, with a decrease of -14.4% against the previous year. In general, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when the export price increased by 63% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-4.7%).

Pig Fat Imports

Imports in CIS

In 2022, overseas purchases of pig fat increased by 13% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, saw a sharp shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 49% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, pig fat imports soared to $X in 2022. Over the period under review, imports, however, saw a dramatic curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 41%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Belarus represented the main importer of pig fat in the CIS, with the volume of imports finishing at X tons, which was near 51% of total imports in 2022. Azerbaijan (X tons) ranks second in terms of the total imports with a 14% share, followed by Armenia (11%), Russia (10%), Uzbekistan (6.6%) and Moldova (6%).

Imports into Belarus increased at an average annual rate of +1.5% from 2012 to 2022. At the same time, Azerbaijan (+16.8%) and Moldova (+6.5%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +16.8% from 2012-2022. Armenia experienced a relatively flat trend pattern. By contrast, Uzbekistan (-19.4%) and Russia (-37.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Belarus, Azerbaijan, Armenia, Uzbekistan and Moldova increased by +47, +14, +11, +6.6 and +6 percentage points, respectively.

In value terms, Belarus ($X) constitutes the largest market for imported pig fat in the CIS, comprising 54% of total imports. The second position in the ranking was held by Azerbaijan ($X), with a 13% share of total imports. It was followed by Russia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Belarus was relatively modest. In the other countries, the average annual rates were as follows: Azerbaijan (+19.6% per year) and Russia (-37.8% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, surging by 6.3% against the previous year. Overall, the import price, however, recorded a mild decline. The most prominent rate of growth was recorded in 2014 when the import price increased by 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Moldova (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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