Hungary: Tallow Market 2024

Tallow Market Size in Hungary

In 2022, the Hungarian tallow market decreased by -54.2% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a abrupt decrease. Tallow consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Tallow Production in Hungary

In value terms, tallow production reached $X in 2022 estimated in export price. Overall, production saw a abrupt setback. The pace of growth was the most pronounced in 2019 with an increase of 63%. Tallow production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Tallow Exports

Exports from Hungary

In 2022, approx. X tons of tallow were exported from Hungary; with an increase of 40% compared with the year before. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 842% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, tallow exports skyrocketed to $X in 2022. Overall, exports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 846%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Austria (X tons) was the main destination for tallow exports from Hungary, accounting for a 65% share of total exports. Moreover, tallow exports to Austria exceeded the volume sent to the second major destination, Slovakia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Austria amounted to +83.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+2.9% per year) and Italy (+31.9% per year).

In value terms, Austria ($X) remains the key foreign market for tallow exports from Hungary, comprising 61% of total exports. The second position in the ranking was held by Slovakia ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Austria totaled +90.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+2.0% per year) and Italy (+22.1% per year).

Export Prices by Country

The average tallow export price stood at $X per ton in 2022, reducing by -15.5% against the previous year. Overall, the export price recorded a slight downturn. The growth pace was the most rapid in 2016 when the average export price increased by 171%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+3.6%), while the prices for the other major destinations experienced a decline.

Tallow Imports

Imports into Hungary

In 2022, overseas purchases of tallow increased by 8.9% to X tons, rising for the third consecutive year after two years of decline. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% 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 +38.5% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 38% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, tallow imports skyrocketed to $X in 2022. In general, imports saw buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Serbia (X tons) were the main suppliers of tallow imports to Hungary, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +390.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of tallow to Hungary, comprising 66% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total imports. It was followed by Poland, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +224.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+7.4% per year) and Poland (-2.5% per year).

Import Prices by Country

In 2022, the average tallow import price amounted to $X per ton, growing by 26% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tallow import price increased by +97.3% against 2015 indices. The most prominent rate of growth was recorded in 2021 an increase of 28%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+32.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :