SADC: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in SADC

In 2021, after three years of decline, there was significant growth in the SADC rendered pig fat market, when its value increased by 48% to $X. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Rendered Pig Fat Production in SADC

In value terms, rendered pig fat production fell to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 262%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Rendered Pig Fat Exports

Exports in SADC

In 2021, overseas shipments of lard and other pig fat (rendered) increased by 8.1% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 1,546% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, rendered pig fat exports declined slightly to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 1,429%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, South Africa (X tons) was the major exporter of lard and other pig fat (rendered), constituting 68% of total exports. It was distantly followed by Swaziland (X tons), making up a 31% share of total exports.

Exports from South Africa increased at an average annual rate of +6.1% from 2012 to 2021. At the same time, Swaziland (+20.6%) displayed positive paces of growth. Moreover, Swaziland emerged as the fastest-growing exporter exported in SADC, with a CAGR of +20.6% from 2012-2021. While the share of Swaziland (+19 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-18.3 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest rendered pig fat supplier in SADC, comprising 70% of total exports. The second position in the ranking was taken by Swaziland ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at -3.0%.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, shrinking by -9.5% against the previous year. Overall, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by 34% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was South Africa ($X per ton), while Swaziland amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Swaziland (+15.3%).

Rendered Pig Fat Imports

Imports in SADC

In 2021, after three years of decline, there was significant growth in supplies from abroad of lard and other pig fat (rendered), when their volume increased by 28% to X tons. In general, imports, however, showed a slight slump. The pace of growth appeared the most rapid in 2017 with an increase of 29% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, rendered pig fat imports soared to $X in 2021. Total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.6% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 77% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, South Africa (X tons), Namibia (X tons) and Zambia (X tons) was the key importer of lard and other pig fat (rendered) in SADC, achieving 85% of total import. It was distantly followed by Botswana (X tons), mixing up a 9.3% share of total imports. The following importers - Lesotho (X tons), Angola (X tons) and Mozambique (X tons) - each finished at a 5.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Zambia (with a CAGR of +27.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rendered pig fat importing markets in SADC were Namibia ($X), South Africa ($X) and Botswana ($X), together accounting for 70% of total imports.

In terms of the main importing countries, Botswana, with a CAGR of +45.3%, recorded the highest growth rate of the value of imports, 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 SADC stood at $X per ton in 2021, increasing by 15% against the previous year. Import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rendered pig fat import price increased by +31.0% against 2017 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by 37%. Over the period under review, import prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (+18.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform