HS Code:
The 'Animal fats and oils and their fractions' category, classified under HS Code 1501 to 1506, includes products such as lard, tallow, fish oil, and other animal-derived fats and oils. These products are primarily used in food processing, animal feed, cosmetics, and industrial applications like biodiesel production. This category is a significant part of global agricultural trade, influenced by dietary trends, livestock production, and sustainability concerns.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 2.1 billion
16.8% of total trade of total trade
Increasing
USD 1.8 billion
14.4% of total trade of total trade
Stable
USD 1.3 billion
10.4% of total trade of total trade
Increasing
USD 0.9 billion
7.2% of total trade of total trade
Decreasing
USD 0.7 billion
5.6% of total trade of total trade
Stable
Average Rate
5.2%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU internal trade or USMCA)
Rising demand for sustainable and traceable animal fats
Increased certification requirements and shift towards eco-friendly sourcing, impacting smaller exporters
2021-2022
Growth in biodiesel production using animal fats
Higher demand for tallow and other fats in industrial applications, driving prices up
2020-2022
Decline in traditional food use in developed markets
Reduced consumption of lard in favor of plant-based oils, affecting exporters reliant on food markets
2019-2022
The European Union introduced stricter traceability and sustainability requirements for animal fats and oils to combat deforestation and ensure ethical sourcing.
June 2023
Exporters from non-compliant regions may face reduced access to the EU market, one of the largest importers.
The United States reported a 20% increase in tallow exports driven by demand for renewable diesel production in North America and Europe.
March 2023
Positive for US producers, but raises concerns over supply shortages for traditional uses like animal feed.
Norway invested in sustainable aquaculture practices, increasing fish oil output to meet growing demand in health supplements.
September 2022
Strengthens Norway’s position in the global market, particularly in high-value sectors like nutraceuticals.