Lard and poultry fats market in Australia

Earlier Report Observations

Australian lard and poultry fats production and market volume declined in 2019 but recovered steadily through 2020 and 2021. Production reached 33 200 t in 2021, with the market volume at 33 425 t, surpassing pre-2019 levels.

In 2022, the market stabilized at around 33 000 t as feed cost volatility, driven by spikes in corn and soybean prices, and avian influenza outbreaks constrained poultry production. By 2023, production expanded to 35 000 t, driving the market volume to over 35 300 t.

Production lard and poultry fats in Australia

In kind, 2018-2021, t

Between 2018 and 2021, Australia ranked as the 24th largest producer of lard and poultry fats globally.

Top producers of lard and poultry fats, 2018-2021

World map of production of lard and poultry fats, 2018-2021

Australia's production of lard and poultry fats grew for the second year in a row. In 2021, the country produced 33 200 tonnes, marking a moderate increase of 5.7% compared to 2020. Over the 2018-2021 period, production rose by 4.4%, which translates to an average annual growth rate of 1.4%. The lowest production level was in 2019, at 29 900 tonnes, when output fell by 6.0%.

Annual dynamics of production in Australia in kind, 2018-2021, t

Exports lard and poultry fats from Australia

Exports in kind, t

Export volumes of lard and poultry fats from Australia showed significant fluctuations during this period. The lowest point was in 2018, while the peak occurred in 2019, with a 3.1-fold difference between these years. In 2021, exports totaled 159.8 tonnes, reflecting a sharp decline of 18.0% from the previous year. The highest export volume was recorded in 2019 at 459.5 tonnes. The largest drop happened in 2020, with a decrease of 57.6%, while the biggest increase was in 2019, surging by 214.1%.

Annual dynamics of product's exports from Australia in kind, 2018-2021, t

From 2018 to 2021, South Korea and New Caledonia were the dominant destinations for Australia's lard and poultry fats exports, together accounting for 83.5% of total shipments. Other countries held much smaller shares.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Australia in kind, 2018-2021

Exports in value, K $ US

In 2021, the value of Australia's lard and poultry fats exports reached 255 thousand US dollars, showing a solid improvement of 14.1% over the prior year. However, between 2018 and 2021, export values decreased by 29.5%, averaging an annual decline of 11.0%. The lowest value was in 2020 at 223 thousand US dollars, while the highest was in 2019 at 600 thousand US dollars. The largest decline occurred in 2020, falling by 62.8%, and the biggest increase was in 2019, rising by 66.1%.

Annual dynamics of product's exports from Australia in value, 2018-2021, K $ US

During 2018-2021, South Korea, Switzerland, and New Caledonia formed the core markets for Australia's lard and poultry fats exports in value terms. South Korea accounted for 39.6% of export value, Switzerland for 24.7%, and New Caledonia for 21.8%, together representing 86.1% of total flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Australia in value, 2018-2021

Imports lard and poultry fats to Australia

Imports in kind, t

Australia's imports of lard and poultry fats increased for the second consecutive year. In 2021, imports amounted to 385.2 tonnes, up 8.7% from the previous year. Over the 2018-2021 period, imports grew by 15.4%, with a compound annual growth rate of 4.9%. The lowest import volume was in 2019 at 331.8 tonnes, when imports declined by 0.6%.

Annual dynamics of product's imports to Australia in kind, 2018-2021, t

From 2018 to 2021, Canada was the leading source for Australia's lard and poultry fats imports, holding a 76.0% share of total volumes. Other markets combined accounted for the remainder.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Australia in kind, 2018-2021

Imports in value, K $ US

The value of Australia's lard and poultry fats imports rose for the second year in a row. In 2021, imports totaled 1 292 thousand US dollars, a sharp increase of 29.1% from the year before. Between 2018 and 2021, import values increased by 48.3%, averaging an annual growth rate of 14.0%. The lowest value was in 2019 at 836 thousand US dollars, when imports fell by 4.0%.

Annual dynamics of product's imports to Australia in value, 2018-2021, K $ US

Throughout 2018-2021, Canada and France were the principal sources for Australia's lard and poultry fats imports in value terms, together accounting for 90.5% of total flows. Other partners each held significantly smaller shares.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Australia in value, 2018-2021