Puerto Rico: Animal Fats Market 2024

Animal Fats Market Size in Puerto Rico

The Puerto Rican animal fats market stood at less than $X in 2021, flattening at 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). Overall, consumption showed a relatively flat trend pattern.

Animal Fats Exports

Exports from Puerto Rico

In 2021, the amount of animal fats and oils exported from Puerto Rico stood at less than X kg, therefore, remained relatively stable against the previous year. In general, exports continue to indicate a relatively flat trend pattern.

In value terms, animal fats exports amounted to less than $X in 2021. Overall, exports recorded a relatively flat trend pattern.

Exports by Country

The shipments of the four major exporters of animal fats and oils, namely China, Belgium, Mexico and the UK, represented more than half of total export. Saudi Arabia (X tons) took a 6.7% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (less than 0.1%). Germany (X tons), Croatia (X tons), Hungary (X tons), Chile (X tons), Canada (X tons), Peru (X tons) and Australia (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +335.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest animal fats supplying countries from Puerto Rico were Chile ($X), Belgium ($X) and Mexico ($X), with a combined 38% share of total exports. These countries were followed by China, Germany, Peru, Saudi Arabia, the UK, Croatia, Hungary, Australia, Canada and Slovakia, which together accounted for a further 26%.

China, with a CAGR of +237.0%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, stabilizing at the previous year. Overall, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+39.7%), while the other leaders experienced more modest paces of growth.

Animal Fats Imports

Imports into Puerto Rico

In 2021, the amount of animal fats and oils imported into Puerto Rico amounted to less than X kg, remaining relatively unchanged against the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern.

In value terms, animal fats imports totaled less than $X in 2021. Over the period under review, imports saw a relatively flat trend pattern.

Imports by Country

Sweden was the largest importing country with an import of about X tons, which accounted for 39% of total imports. Denmark (X tons) took the second position in the ranking, followed by Hungary (X tons) and Spain (X tons). All these countries together took approx. 24% share of total imports. Saudi Arabia (X tons), Bangladesh (X tons), Latvia (X tons), Germany (X tons), the UK (X tons), Chile (X tons), Pakistan (X tons), the United States (X tons) and Romania (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to animal fats imports into Sweden stood at +69.5%. At the same time, Bangladesh (+75.2%), Denmark (+73.5%), Pakistan (+52.3%), Chile (+51.1%), Romania (+31.1%), Spain (+27.0%), Latvia (+23.2%), the United States (+15.5%), Hungary (+14.7%) and Germany (+8.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in the world, with a CAGR of +75.2% from 2012-2021. By contrast, Saudi Arabia (-3.7%) and the UK (-10.0%) illustrated a downward trend over the same period. While the share of Sweden (+38 p.p.), Denmark (+8.6 p.p.), Spain (+4.8 p.p.), Bangladesh (+2.4 p.p.), Hungary (+1.9 p.p.), Chile (+1.9 p.p.) and Pakistan (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Saudi Arabia (-7.6 p.p.) and the UK (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), the United States ($X) and Denmark ($X) constituted the countries with the highest levels of imports in 2021, with a combined 43% share of total imports. Spain, the UK, Saudi Arabia, Germany, Hungary, Romania, Latvia, Chile, Bangladesh and Pakistan lagged somewhat behind, together accounting for a further 26%.

Bangladesh, with a CAGR of +50.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, flattening at the previous year. Overall, the import price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while Pakistan ($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 UK (+12.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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