Czech Republic: Animal Fats Market 2024

Animal Fats Market Size in the Czech Republic

For the third year in a row, the Czech animal fats market recorded growth in sales value, which increased by 25% to $X in 2021. Overall, consumption posted significant growth. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Animal Fats Production in the Czech Republic

In value terms, animal fats production soared to $X in 2021 estimated in export price. Over the period under review, production showed a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 115% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Animal Fats Exports

Exports from the Czech Republic

In 2021, shipments abroad of animal fats and oils increased by 5.7% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, faced a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 92% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, animal fats exports soared to $X in 2021. Over the period under review, exports enjoyed a perceptible increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Slovakia (X tons), Hungary (X tons) and Romania (X kg) were the main destinations of animal fats exports from the Czech Republic, together accounting for 98% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +293.9%), while the other leaders experienced mixed trend patterns.

In value terms, Hungary ($X) emerged as the key foreign market for animal fats and oils exports from the Czech Republic, comprising 82% of total exports. The second position in the ranking was held by Slovakia ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Hungary amounted to +312.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-15.9% per year) and Romania (+74.9% per year).

Export Prices by Country

The average animal fats export price stood at $X per ton in 2021, picking up by 422% against the previous year. In general, the export price enjoyed a significant expansion. 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 for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+44.9%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Fats Imports

Imports into the Czech Republic

In 2021, overseas purchases of animal fats and oils increased by 3.4% to X tons, rising for the second year in a row after two years of decline. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 3,635%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, animal fats imports reached $X in 2021. Over the period under review, imports showed significant growth. The growth pace was the most rapid in 2013 with an increase of 823% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Austria (X tons) constituted the largest animal fats supplier to the Czech Republic, with a 75% share of total imports. Moreover, animal fats imports from Austria exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Austria stood at +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+100.3% per year) and the Netherlands (+45.4% per year).

In value terms, Austria ($X) constituted the largest supplier of animal fats and oils to the Czech Republic, comprising 59% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Austria stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+57.3% per year) and Slovakia (+109.7% per year).

Import Prices by Country

The average animal fats import price stood at $X per ton in 2021, growing by 8.3% against the previous year. In general, the import price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 27% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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