Finland: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in Finland

For the fifth year in a row, the Finnish rendered pig fat market recorded decline in sales value, which decreased by -10.2% to $X in 2021. In general, consumption showed a noticeable descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Rendered Pig Fat Production in Finland

In value terms, rendered pig fat production stood at $X in 2021 estimated in export price. Overall, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 30%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Rendered Pig Fat Exports

Exports from Finland

In 2021, after three years of decline, there was significant growth in shipments abroad of lard and other pig fat (rendered), when their volume increased by 11% to X kg. Overall, exports, however, showed a precipitous descent. The growth pace was the most rapid in 2017 when exports increased by 127%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, rendered pig fat exports soared to $X in 2021. Over the period under review, exports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 100%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X kg) was the main destination for rendered pig fat exports from Finland, with a 57% share of total exports. Moreover, rendered pig fat exports to Sweden exceeded the volume sent to the second major destination, Germany (X kg), threefold. Denmark (X kg) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-56.0% per year) and Denmark (-38.6% per year).

In value terms, Sweden ($X) remains the key foreign market for lard and other pig fat (rendered) exports from Finland, comprising 87% of total exports. The second position in the ranking was held by Denmark ($X), with a 6.3% share of total exports. It was followed by Germany, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value to Sweden amounted to +54.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-29.9% per year) and Germany (-29.8% per year).

Export Prices by Country

In 2021, the average rendered pig fat export price amounted to $X per ton, increasing by 42% against the previous year. In general, the export price showed a significant increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 505% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while the average price for exports to the Czech Republic ($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 Poland (+192.6%), while the prices for the other major destinations experienced more modest paces of growth.

Rendered Pig Fat Imports

Imports into Finland

Rendered pig fat imports into Finland stood at X tons in 2021, remaining relatively unchanged against the year before. In general, imports showed a modest expansion. The pace of growth appeared the most rapid in 2014 with an increase of 145% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, rendered pig fat imports totaled $X in 2021. Overall, imports posted a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by 101% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Estonia (X tons) was the main supplier of rendered pig fat to Finland, with a 94% share of total imports. Moreover, rendered pig fat imports from Estonia exceeded the figures recorded by the second-largest supplier, France (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Estonia totaled +181.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (0.0% per year) and Denmark (+76.1% per year).

In value terms, Estonia ($X) constituted the largest supplier of lard and other pig fat (rendered) to Finland, comprising 80% of total imports. The second position in the ranking was held by France ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Estonia stood at +160.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (0.0% per year) and Denmark (+113.6% per year).

Import Prices by Country

In 2021, the average rendered pig fat import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price saw strong growth. The pace of growth appeared the most rapid in 2013 an increase of 9.1% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+17.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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