Norway: Lard Market 2025

Lard Market Size in Norway

The Norwegian lard market skyrocketed to $X in 2022, with an increase of 266% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Lard Production in Norway

In value terms, lard production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 17% 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 Norway

In 2022, lard exports from Norway shrank remarkably to X tons, which is down by -95.3% against the year before. In general, exports showed a dramatic decrease. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined sharply in the following year.

In value terms, lard exports contracted dramatically to $X in 2022. Over the period under review, exports continue to indicate a dramatic contraction. Over the period under review, the exports hit record highs at $X in 2021, and then fell sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for lard exports from Norway, with a approx. 100% share of total exports.

From 2021 to 2022, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for lard exports from Norway.

From 2021 to 2022, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

In 2022, the average lard export price amounted to $X per ton, jumping by 98% against the previous year. Over the period under review, the export price posted a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2021 to 2022, the rate of growth in terms of prices for the United States amounted to 0.0% per year.

Lard Imports

Imports into Norway

In 2022, overseas purchases of lard decreased by -77.2% to X tons, falling for the second year in a row after seven years of growth. In general, imports faced a sharp contraction. The growth pace was the most rapid in 2020 when imports increased by 516%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, lard imports fell remarkably to $X in 2022. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 478% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell rapidly in the following year.

Imports by Country

In 2022, Poland (X tons) was the main supplier of lard to Norway, accounting for a 94% share of total imports. Moreover, lard imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-37.7% per year) and Lithuania (-8.9% per year).

In value terms, Poland ($X) constituted the largest supplier of lard to Norway, comprising 95% of total imports. The second position in the ranking was held by Germany ($X), with a 4.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Poland totaled +33.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-30.9% per year) and Lithuania (-4.2% per year).

Import Prices by Country

In 2022, the average lard import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price, however, saw prominent growth. The pace of growth appeared the most rapid in 2021 an increase of 20%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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