Iraq: Pig Fat Market 2020

Pig Fat Market Size in Iraq

The revenue of the pig fat market in Iraq amounted to $X in 2018, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, pig fat consumption continues to indicate buoyant growth. The pace of growth was the most pronounced in 2013 when the market value increased by X% y-o-y. In that year, the pig fat market attained its peak level of $X. From 2014 to 2018, the growth of the pig fat market failed to regain its momentum.

Pig Fat Exports

Exports by Country

Germany (X tons) and the U.S. (X tons) represented the key exporters of pig fat in 2018, resulting at near X% and X% of total exports, respectively. Spain (X tons) occupied a X% share (based on tons) of total exports, which put it in second place, followed by Poland (X%), Canada (X%), the Netherlands (X%), Belgium (X%) and Italy (X%). Chile (X tons), Denmark (X tons), France (X tons) and Austria (X tons) took a little share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Poland, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest pig fat markets from Iraq were the U.S. ($X), Germany ($X) and Canada ($X), with a combined X% share of total exports. Spain, the Netherlands, Italy, Poland, Chile, Belgium, France, Denmark and Austria lagged somewhat behind, together accounting for a further X the main exporting countries, Chile recorded the highest growth rate of market size, over the period under review, while exports for the other leaders experienced more modest paces of growth.

Export Prices by Country

The pig fat export price in Iraq stood at $X per ton in 2018, stabilizing at the previous year. In general, the pig fat export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices for pig fat attained their maximum at $X per ton in 2013; however, from 2014 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Chile ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Chile, while the other leaders experienced more modest paces of growth.

Pig Fat Imports

Imports into Iraq

In 2012, approx. X tons of pig fat were imported into Iraq; approximately mirroring the previous year. Overall, pig fat imports continue to indicate a sharp curtailment. Iraq imports peaked at X tons in 2009; however, from 2010 to 2012, imports failed to regain their momentum.

In value terms, pig fat imports amounted to $X in 2012. In general, pig fat imports continue to indicate a sharp shrinkage. Over the period under review, pig fat imports attained their maximum at $X in 2009; however, from 2010 to 2012, imports stood at a somewhat lower figure.

Imports by Country

Russia represented the largest importer of pig fat imported in the world, with the volume of imports reaching X tons, which was near X% of total imports in 2018. Mexico (X tons) took a X% share (based on tons) of total imports, which put it in second place, followed by the Netherlands (X%), the Philippines (X%) and Ukraine (X%). Japan (X tons), Germany (X tons), France (X tons), the Czech Republic (X tons), Belgium (X tons), Italy (X tons) and South Korea (X tons) followed a long way behind the leaders.

Russia experienced a relatively flat trend pattern of pig fat imports. At the same time, South Korea (+X%), Italy (+X%), the Philippines (+X%), Japan (+X%), the Czech Republic (+X%), Mexico (+X%), Ukraine (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2018. The Netherlands experienced a relatively flat trend pattern. By contrast, Germany (-X%) and France (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Mexico, the Philippines, Ukraine, Russia, Japan, South Korea and Italy increased by +X%, +X%, +X%, +X%, +X%, +X% and +X% percentage points, while France (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported pig fat into Iraq, comprising X% of global imports. The second position in the ranking was occupied by Japan ($X), with a X% share of global imports. It was followed by the Philippines, with a X% share.

From 2007 to 2018, the average annual growth rate of value in Russia amounted to +X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+X% per year) and the Philippines (+X% per year).

Import Prices by Country

The pig fat import price in Iraq stood at $X per ton in 2018, standing approx. at the previous year. Over the period under review, the pig fat import price continues to indicate a deep deduction. Iraq import price peaked at $X per ton in 2009; however, from 2010 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Russia ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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