United Arab Emirates: Tallow Market 2024

Tallow Market Size in the United Arab Emirates

The tallow market in the United Arab Emirates was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption saw a prominent expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Tallow Exports

Exports from the United Arab Emirates

In 2022, approx. X tons of tallow were exported from the United Arab Emirates; rising by 64% on 2021. Overall, exports showed a pronounced expansion. The pace of growth was the most pronounced in 2019 with an increase of 1,374%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, tallow exports surged to $X in 2022. Over the period under review, exports saw a resilient increase. The growth pace was the most rapid in 2019 when exports increased by 717%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Iran (X tons) was the main destination for tallow exports from the United Arab Emirates, with a 50% share of total exports. Moreover, tallow exports to Iran exceeded the volume sent to the second major destination, Iraq (X tons), threefold. Kuwait (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran stood at +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+623.5% per year) and Kuwait (+56.6% per year).

In value terms, Oman ($X) remains the key foreign market for tallow exports from the United Arab Emirates, comprising 71% of total exports. The second position in the ranking was taken by Iran ($X), with a 10% share of total exports. It was followed by Kuwait, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Oman totaled +68.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-3.5% per year) and Kuwait (+21.7% per year).

Export Prices by Country

The average tallow export price stood at $X per ton in 2022, with a decrease of -22.2% against the previous year. Overall, the export price, however, saw a prominent expansion. The pace of growth was the most pronounced in 2018 an increase of 181%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+22.1%), while the prices for the other major destinations experienced mixed trend patterns.

Tallow Imports

Imports into the United Arab Emirates

In 2022, overseas purchases of tallow were finally on the rise to reach X tons after two years of decline. In general, imports posted measured growth. The pace of growth was the most pronounced in 2015 when imports increased by 486% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, tallow imports fell slightly to $X in 2022. Over the period under review, imports continue to indicate resilient growth. The growth pace was the most rapid in 2015 when imports increased by 761%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Iran (X tons) constituted the largest supplier of tallow to the United Arab Emirates, accounting for a 44% share of total imports. Moreover, tallow imports from Iran exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Brazil (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iran stood at +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+43.1% per year) and Brazil (+10.1% per year).

In value terms, India ($X), Iran ($X) and Brazil ($X) were the largest tallow suppliers to the United Arab Emirates, with a combined 70% share of total imports.

India, with a CAGR of +41.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tallow import price amounted to $X per ton, dropping by -21.2% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tallow import price increased by +20.8% against 2019 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 47% against the previous year. The import price peaked at $X per ton in 2021, and then declined markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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