Beef, sheep or goat fat market in Southern Asia

Earlier Report Observations

The market for beef, sheep, and goat fats in Southern Asia began the period at 772.7 thousand tonnes in 2018, a level supported by rising incomes and urbanization which increased meat consumption and production in the region. Market volume then experienced a slight adjustment to 759.3 thousand tonnes in 2019 and a more pronounced contraction to 701.0 thousand tonnes in 2020.

A sustained recovery and growth phase followed from 2021, with the market expanding to 826.0 thousand tonnes that year and reaching 900.6 thousand tonnes by 2023. This upward trend was underpinned by significant government initiatives to bolster the livestock sector, including a substantial funding scheme for sustainable livestock health and production aimed at raising farmer incomes, alongside expanded vaccination campaigns against major animal diseases. These measures enhanced herd health and productivity, leading to increased meat output and a corresponding rise in the supply of animal fats.

Concurrently, regulatory updates from the Food Safety and Standards Authority of India (FSSAI) introduced clearer standards and labeling requirements for meat products, including fat content disclosure, which improved market transparency. The growth of the meat processing industry, catering to both domestic demand and exports, further ensured a steady supply of fats as a by-product of primary meat production.

Production beef, sheep or goat fat in Southern Asia

In kind, 2017-2020, K t

Top producers of beef, sheep or goat fat, 2017-2020

World map of production of beef, sheep or goat fat, 2017-2020

In 2020, Southern Asia produced 687.7 thousand tons of beef, sheep, or goat fat, marking an 8.8% decrease compared to 2019. Over the period from 2017 to 2020, production declined by 9.4%, which translates to an annualized rate of 3.2%. The largest increase occurred in 2019, with a modest rise of 0.6%.

Annual dynamics of production in Southern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the output of beef, sheep, or goat fat in Southern Asia was valued at 624.1 million US dollars, reflecting a significant year-over-year decline of 12.5%. From 2017 to 2020, production decreased by 6.9%, equating to an annualized rate of 2.4%. The minimum value was recorded in 2018 at 611.1 million US dollars, while the maximum value peaked in 2019 at 713.2 million US dollars. The largest increase was observed in 2019, with a substantial rise of 16.7%.

Annual dynamics of production in Southern Asia in value, 2017-2020, M $ US

Exports beef, sheep or goat fat from Southern Asia

Exports in kind, t

Southern Asia's exports of beef, sheep, or goat fat have increased for the third consecutive year. In 2020, the region exported 30 596 tons, showing a notable year-over-year increase of 44.1%. Between 2017 and 2020, exports grew by 72.2%, which corresponds to an annualized rate of 19.9%.

Annual dynamics of product's exports from Southern Asia in kind, 2017-2020, t

From 2017 to 2020, exports of beef, sheep, or goat fat from Southern Asia were not concentrated on a few key markets. Iraq accounted for 3.9% of exports in kind, the United Arab Emirates for 1.1%, and Azerbaijan for 0.7%. Together, these three countries represented only 5.7% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Southern Asia in kind, 2017-2020

Exports in value, K $ US

Cross-border shipments of beef, sheep, or goat fat from Southern Asia have increased for the second consecutive year. In 2020, exports amounted to 27 768 thousand US dollars, reflecting a sharp year-over-year improvement of 38.3%. Over the period from 2017 to 2020, exports increased by 76.8%, with a compound annual growth rate of 20.9%. The minimum value was recorded in 2018 at 15 679 thousand US dollars, and the largest decline occurred in 2018 with a slight drop of 0.1%.

Annual dynamics of product's exports from Southern Asia in value, 2017-2020, K $ US

From 2017 to 2020, the country structure of exports in value terms remained highly diversified. Iraq accounted for 8.9% of exports in value terms, the United Arab Emirates for 2.8%, and Azerbaijan for 1.9%. Collectively, these three markets represented only 13.6% of total flows, while a long tail of smaller markets made up the remaining 86.4%.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Southern Asia in value, 2017-2020

Imports beef, sheep or goat fat to Southern Asia

Imports in kind, t

After a two-year decline, cross-border shipments of beef, sheep, or goat fat to Southern Asia increased. In 2020, imports reached 43 856 tons, equivalent to a steep uptick of 65.4% compared to the previous year. Over the period from 2017 to 2020, imports decreased by 8.1%, with a compound annual growth rate of 2.8%. The minimum value was recorded in 2019 at 26 518 tons, and the largest decline occurred in 2019 with a drop of 37.2%.

Annual dynamics of product's imports to Southern Asia in kind, 2017-2020, t

From 2017 to 2020, imports of beef, sheep, or goat fat to Southern Asia were spread across many countries. Australia accounted for 10.4% of imports in kind, Saudi Arabia for 4.2%, and New Zealand for 3.7%. Together, these three countries represented only 18.3% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Southern Asia in kind, 2017-2020

Imports in value, K $ US

Volatility characterized the market behavior during these years. Volumes reached their maximum in 2017 and dropped to a minimum in 2019, showing a two-fold shift. In 2020, Southern Asia's volume of beef, sheep, or goat fat imports stood at 34 695 thousand US dollars, which is 98.6% higher compared to 2019. The minimum value was recorded in 2019 at 17 473 thousand US dollars, and the largest decline occurred in 2019 with a drop of 43.3%.

Annual dynamics of product's imports to Southern Asia in value, 2017-2020, K $ US

From 2017 to 2020, the role of Australia, Saudi Arabia, and New Zealand as suppliers of beef, sheep, or goat fat to Southern Asia was notable but not dominant. Australia accounted for 9.8% of imports in value terms, Saudi Arabia for 3.7%, and New Zealand for 2.9%. Their joint share reached only 16.4% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Southern Asia in value, 2017-2020