Lard and poultry fats market in ASEAN

Earlier Report Observations

The ASEAN lard and poultry fats market opened the period at 41 058 t in 2018, a level supported by strong regional demand for meat products driven by population growth, urbanization, and rising disposable incomes. However, the market size then contracted over the following years, falling to 32 053 t by 2023, a decline of 22% over the five-year period.

This reduction was primarily due to a sustained drop in domestic production, which decreased from 36 356 t in 2018 to 28 929 t in 2023. Import volumes showed considerable volatility, peaking at 6 407 t in 2021 before falling back to 3 396 t in 2023, insufficient to offset the decline in local output.

Production lard and poultry fats in ASEAN

In kind, 2017-2020, t

Top producers of lard and poultry fats, 2017-2020

World map of production of lard and poultry fats, 2017-2020

ASEAN's production of lard and poultry fats declined for the second year in a row. In 2020, the region produced 29 739 tonnes, marking a significant 10.2% drop compared to 2019. Looking at the period from 2017 to 2020, production fell by 16.2%, which translates to an average annual decrease of 5.7%. The highest production level was recorded in 2018 at 36 356 tonnes, with the largest year-on-year increase of 2.4% also occurring that year.

Annual dynamics of production in ASEAN in kind, 2017-2020, t

Exports lard and poultry fats from ASEAN

Exports in kind, t

The market showed noticeable fluctuations during this period. The lowest export volume was recorded in 2018 at 12 tonnes, while the peak occurred in 2017, creating a 7.7-fold difference between these two years. In 2020, exports from ASEAN reached 71 tonnes, representing a 61.8% increase compared to the previous year. The largest decline was observed in 2018 at 87.0%, followed by the biggest jump in 2019 with a 261.5% rise.

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

From 2017 to 2020, Japan, Hong Kong, and South Korea were the top buyers of lard and poultry fats from ASEAN. Japan accounted for 39.5% of exports in volume, Hong Kong for 26.4%, and South Korea for 15.7%. Together, these three markets represented 81.5% of ASEAN's total exports in this category.

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

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

Exports in value, K $ US

The market displayed an unstable trend throughout the period. The lowest export value was recorded in 2018 at 22 thousand US dollars, while the highest came in 2019 at 218 thousand US dollars, resulting in a 9.8-fold difference between these years. In 2020, ASEAN exported 113 thousand US dollars worth of lard and poultry fats, which was 48.4% lower than the previous year. The largest decline occurred in 2018 at 85.7%, while the most substantial increase was in 2019 with a dramatic 877.9% surge.

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

Between 2017 and 2020, Japan and South Korea remained the leading buyers of lard and poultry fats from ASEAN in value terms. Together, they accounted for 83.2% of total export value, with other countries making up the remaining share.

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

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

Imports lard and poultry fats to ASEAN

Imports in kind, t

The data reveals irregular changes, indicating a volatile market environment. The lowest import volume was recorded in 2017, while the highest occurred in 2020, showing a 2.6-fold difference between these years. In 2020, ASEAN imported approximately 4 862 tonnes of lard and poultry fats, marking a 123.1% increase compared to 2019. The largest decline was in 2019 at 53.8%, while the biggest increase happened in 2018 with a 155.9% rise.

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

From 2017 to 2020, Germany, France, and Hong Kong formed the core group of markets for ASEAN's imports in volume. Germany contributed 22.3% of imports, France 18.4%, and Hong Kong 15.7%. Collectively, these three countries represented 56.4% of total import flows.

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

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

Imports in value, K $ US

There were noticeable fluctuations in market performance during this period. The lowest import value was recorded in 2017, while the highest was in 2018, reflecting a 2.3-fold gap. In 2020, ASEAN's imports of lard and poultry fats amounted to 3 717 thousand US dollars, which was 52.3% higher than the previous year. The peak value occurred in 2018 at 4 795 thousand US dollars. The largest decline was in 2019 at 49.1%, while the most significant increase was in 2018 with a 129.4% jump.

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

Over the period from 2017 to 2020, France, Germany, and Australia were the biggest contributors to ASEAN's imports in value terms. France accounted for 32.9% of import value, Germany for 19.9%, and Australia for 13.5%. Together, these three countries represented 66.3% of total import flows.

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

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