Middle East: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in the Middle East

In 2021, the Middle Eastern rendered pig fat market decreased by less than 0.1% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, recorded a abrupt decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Rendered Pig Fat Production in the Middle East

In value terms, rendered pig fat production fell to $X in 2021 estimated in export price. In general, production continues to indicate a slight decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by 1,049% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Rendered Pig Fat Exports

Exports in the Middle East

In 2021, approx. X tons of lard and other pig fat (rendered) were exported in the Middle East; jumping by 16,804% against the previous year's figure. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rendered pig fat exports soared to $X in 2021. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Israel (X tons), together resulting at 99% of total export.

Israel experienced a relatively flat trend pattern with regard to volume of exports of lard and other pig fat (rendered). Israel (+98 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

From 2013 to 2021, the average annual rate of growth in terms of value in Israel was relatively modest.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, reducing by -69.4% against the previous year. In general, the export price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2016 when the export price increased by 70% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Israel.

From 2013 to 2021, the rate of growth in terms of prices for Israel amounted to 0.0% per year.

Rendered Pig Fat Imports

Imports in the Middle East

In 2021, overseas purchases of lard and other pig fat (rendered) increased by 44% to X tons, rising for the fourth consecutive year after five years of decline. Over the period under review, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2019 when imports increased by 123% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, rendered pig fat imports skyrocketed to $X in 2021. In general, imports, however, showed a perceptible descent. The pace of growth appeared the most rapid in 2019 when imports increased by 57%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Israel (X tons) was the key importer of lard and other pig fat (rendered), creating 58% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons), together achieving a 38% share of total imports. Oman (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to rendered pig fat imports into Israel stood at +2.6%. At the same time, Oman (+132.5%) and Saudi Arabia (+33.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +132.5% from 2012-2021. By contrast, the United Arab Emirates (-15.1%) illustrated a downward trend over the same period. While the share of Israel (+29 p.p.), Saudi Arabia (+13 p.p.) and Oman (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United Arab Emirates (-42.7 p.p.) displayed negative dynamics.

In value terms, the largest rendered pig fat importing markets in the Middle East were Israel ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined 89% share of total imports. These countries were followed by Oman, which accounted for a further 9.9%.

Oman, with a CAGR of +106.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, flattening at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2018 an increase of 33% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Oman ($X per ton), while Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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