Italy: Lard Market 2024

Lard Market Size in Italy

The Italian lard market fell to $X in 2022, which is down by -2.5% against the previous year. Overall, consumption recorded a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Lard Production in Italy

In value terms, lard production contracted to $X in 2022 estimated in export price. In general, production recorded a abrupt downturn. The growth pace was the most rapid in 2017 when the production volume increased by 32% against the previous year. Lard production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lard Exports

Exports from Italy

In 2022, shipments abroad of lard decreased by -8.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 68%. As a result, the exports attained the peak of X tons, and then reduced in the following year.

In value terms, lard exports totaled $X in 2022. Over the period under review, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 118% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X tons), Spain (X tons) and France (X tons) were the main destinations of lard exports from Italy, together comprising 75% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +71.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lard exported from Italy were the Netherlands ($X), Spain ($X) and the UK ($X), together comprising 74% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +78.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average lard export price amounted to $X per ton, with an increase of 25% against the previous year. In general, export price indicated a slight expansion from 2012 to 2022: its price 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, lard export price increased by +62.0% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 30%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and France ($X per ton), while the average price for exports to Germany ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lard Imports

Imports into Italy

In 2022, supplies from abroad of lard decreased by -4.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +2.8% 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 +85.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 79% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, lard imports surged to $X in 2022. In general, imports, however, posted a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 76% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Switzerland (X tons) constituted the largest lard supplier to Italy, accounting for a 80% share of total imports. Moreover, lard imports from Switzerland exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was taken by Austria (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Switzerland stood at +137.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-10.7% per year) and Austria (+97.8% per year).

In value terms, Switzerland ($X) constituted the largest supplier of lard to Italy, comprising 80% of total imports. The second position in the ranking was taken by Germany ($X), with a 5.9% share of total imports. It was followed by Austria, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from Switzerland amounted to +103.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.8% per year) and Austria (+132.4% per year).

Import Prices by Country

In 2022, the average lard import price amounted to $X per ton, surging by 56% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lard import price increased by +116.6% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were France ($X per ton) and Germany ($X per ton), while the price for Austria ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :