Eastern Europe: Lard Market 2024

Lard Market Size in Eastern Europe

The East European lard market fell modestly to $X in 2022, dropping by -1.9% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.6% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Lard Production in Eastern Europe

In value terms, lard production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, posted resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 76%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Lard Exports

Exports in Eastern Europe

In 2022, exports of lard in Eastern Europe declined to X tons, shrinking by -13.4% against the previous year. Over the period under review, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 46%. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, lard exports rose rapidly to $X in 2022. Overall, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 83%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Poland was the largest exporter of lard in Eastern Europe, with the volume of exports reaching X tons, which was approx. 55% of total exports in 2022. Hungary (X tons) held the second position in the ranking, distantly followed by the Czech Republic (X tons) and Romania (X tons). All these countries together held approx. 37% share of total exports. Ukraine (X tons), Slovakia (X tons) and Bulgaria (X tons) followed a long way behind the leaders.

Exports from Poland increased at an average annual rate of +4.7% from 2012 to 2022. At the same time, Ukraine (+245.1%), Bulgaria (+105.3%), Hungary (+20.8%), the Czech Republic (+11.7%) and Slovakia (+1.8%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +245.1% from 2012-2022. By contrast, Romania (-7.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Hungary, the Czech Republic, Ukraine and Bulgaria increased by +17, +3, +2.6 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest lard supplier in Eastern Europe, comprising 68% of total exports. The second position in the ranking was held by Hungary ($X), with a 14% share of total exports. It was followed by the Czech Republic, with a 7.3% share.

In Poland, lard exports increased at an average annual rate of +8.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hungary (+21.1% per year) and the Czech Republic (+15.6% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, with an increase of 30% against the previous year. Export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lard export price increased by +70.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 31%. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+9.5%), while the other leaders experienced more modest paces of growth.

Lard Imports

Imports in Eastern Europe

Lard imports expanded notably to X tons in 2022, picking up by 10% on the year before. Total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.8% against 2015 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 27% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, lard imports skyrocketed to $X in 2022. In general, imports saw measured growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Slovakia represented the largest importing country with an import of about X tons, which recorded 72% of total imports. Hungary (X tons) held the second position in the ranking, followed by the Czech Republic (X tons). All these countries together took near 23% share of total imports. Lithuania (X tons) followed a long way behind the leaders.

Slovakia was also the fastest-growing in terms of the lard imports, with a CAGR of +17.0% from 2012 to 2022. The Czech Republic (-2.7%), Hungary (-4.0%) and Lithuania (-5.8%) illustrated a downward trend over the same period. Slovakia (+54 p.p.) significantly strengthened its position in terms of the total imports, while Lithuania, the Czech Republic and Hungary saw its share reduced by -2%, -5.8% and -10.4% from 2012 to 2022, respectively.

In value terms, Slovakia ($X) constitutes the largest market for imported lard in Eastern Europe, comprising 56% of total imports. The second position in the ranking was held by Hungary ($X), with a 19% share of total imports. It was followed by the Czech Republic, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Slovakia amounted to +22.7%. In the other countries, the average annual rates were as follows: Hungary (+0.2% per year) and the Czech Republic (+3.6% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, jumping by 48% against the previous year. Over the period under review, the import price posted slight growth. As a result, import 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 importing countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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