Tallow Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Tallow in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Price Trend for Tallow in Q1 2025
Asia
In the first quarter of 2025, tallow prices in Asia remained elevated, driven largely by strong demand from the biofuel sector, particularly in countries like China and South Korea. These regions continued to rely heavily on imported tallow for biodiesel production, and with global supply constrained, prices stayed high.
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While there was also demand from the food sector, it was the biofuel industry that remained the key driver, pushing up the cost of tallow in the Asian market.
Europe
Similar to Asia, tallow prices in Europe stayed elevated in Q1’25. The European market had increasingly shifted towards using tallow for biofuel production, particularly in countries with aggressive renewable energy policies. As demand for biofuels grew, so too did the competition for tallow, keeping prices above historical averages. Although there was some level of local tallow production, Europe remained reliant on imports, adding further upward pressure on prices during the quarter.
North America
In North America, the first quarter of 2025 saw tallow prices remaining high, primarily due to the ongoing demand for biofuels in both the U.S. and Canada. The use of tallow in biofuel production had been increasing, with industries in both countries working to meet renewable energy goals. Given the global competition for tallow, especially from biofuel sectors in the U.S., prices stayed strong. Domestic production struggled to keep up with demand, which further elevated the cost of tallow in the North American market.
Analyst Insight
According to Procurement Resource, the future outlook for Tallow prices remains bullish, with strong demand from the biofuel industry likely to continue driving prices higher, while limited supply may keep the market tight through 2025.
Tallow Price Trend for the Year 2024
Asia
In 2024, tallow prices in Asia remained elevated, driven by strong demand from biofuel industries, particularly in countries like China and South Korea. Although these countries' demand made up a smaller portion of Australia’s exports, their contribution to the overall price trend was still notable.
The biofuel sector in Asia continued to grow, with tallow being a key ingredient for the production of biodiesel. As a result, importers in the region were paying higher prices throughout the year, as global tallow supply remained tight. While the food sector's demand for tallow was relatively stable, the biofuels boom kept prices above historical averages, resulting in a higher cost of tallow for Asian manufacturers.
Europe
Europe saw a similar upward trend in tallow prices in 2024, with the biofuel market also driving demand. The growing interest in sustainable energy sources pushed the demand for animal by-products like tallow, which is used in the production of biofuels. European countries, particularly those with advanced renewable energy policies, became major players in the market. Prices in Europe reflected the global scarcity and strong international competition for tallow. As demand surged, especially in biofuel production, the price of tallow rose significantly compared to previous years, impacting the cost structure for industries reliant on this product.
North America
In North America, tallow prices also surged in 2024, largely due to the increasing demand from the biofuels sector. The U.S. and Canada were key importers of Australian tallow, with biofuel production in both countries expanding rapidly. The U.S., in particular, showed a growing interest in converting tallow into various biofuels such as diesel and jet fuel, contributing to a steady rise in prices. This growth in demand led to a competitive market for tallow, which pushed prices to levels significantly above historical norms. The high price environment was especially evident in the latter half of the year, as domestic supply struggled to meet the soaring demand.
Analyst Insight
According to Procurement Resource, Tallow prices are expected to remain high, supported by strong biofuel demand globally. As countries continue to shift towards sustainable energy solutions, tallow will likely maintain its value as a key biofuel ingredient, keeping prices above historical averages for the foreseeable future.
Tallow Price Trend for the Second Half of 2023
Asia
The Asian tallow market started on a lower note as the demands were feeble in the summer months. However, steadily, the market started picking up. Since the queries from the international markets also increased, the pricing outlook for the domestic Asian markets inclined. The price trend was able to maintain this trajectory in the fourth quarter as well; India was the biggest tallow exporter to the USA.
Europe
The tallow market trends in the European region were relatively weaker than the global markets. In July the consumption was at record low levels. The inventories were already running high because of subdued downstream movement. However, soon after that, the rush in the global tallow markets started impacting the trade in the European region as well. As the fourth quarter arrived, the demands started surging, and because of limited supply, the upstream costs also picked up. Overall, a fluctuating price trend was observed.
North America
The tallow price trend was mostly mixed with a majorly positively inclined price graph during the said period of H2’23. Since the tallow is extracted from beef, the beef prices largely influence the prices for tallow. During the third quarter, the prices began on a high note despite a fall in inflation in the region, primarily because of supply constraints.
The inventories were repeatedly running out, and because of this high demand, the suppliers were making money. This inclining trajectory continued well into the fourth quarter as well; the market continued to grow. However, it was only in the latter months of the final quarter that the prices finally dipped after the supply and demand disparity started to reduce. The holiday season is also attributed to the decline in demand.
Analyst Insight
According to Procurement Resource, the market projections for Tallow look positive for the coming months since the supply chains are curtailed globally, the prices are expected to surge further.
Tallow Price Trend for the First Half of 2023
Product | Category | Region | Price | Time Period |
Tallow | Agriculture, Farming and Commodity | Europe | 1740 USD/MT (CIF) | January 2023 |
Tallow | Agriculture, Farming and Commodity | Europe | 1824 USD/MT (CIF) | April 2023 |
Stay updated with the latest Tallow prices, historical data, and tailored regional analysis
Asia
Asian Tallow fat market observed mixed price trend throughout the said period, as the market demands from downstream pharma, cosmetics, and aviation industries were high. The existing stocks were running low, so as the demand exceeded supply, prices rose steadily throughout the first quarter. But the second quarter observed reverse market behaviour as the tallow prices declined. The producers paced up the production, churning products at much faster rates leading to stockpiling of products in the market as the demand turned bearish.
Europe
Following the Asian market trend, Tallow prices in the European region rose steadily till the middle of the second quarter (April). Tallow prices averaged around 1740 USD/MT (CIF) in January in the German domestic market and rose to about 1824 USD/MT (CIF) in April 2023 with an inclination of about 4%. But as the market started getting saturated with excess supplies, prices were set on a declining trajectory from April onwards and regularly plummeted in the last two months of the second quarter.
North America
Tallow prices constantly fluctuated in the American market throughout the said time period. Prices rose regularly in the first quarter because of high demands and then declined during the initial months of Q2 owing to a momentary decline in demands. But the mid-Q2 again witnessed a surge in queries in the American market. As the market is primarily import-dependent for the product, supplies were delayed causing the prices to incline till the end of Q2.
Analyst Insight
According to the Procurement Resource, the prices are expected to continue similar fluctuating patterns given the erratic supply-demand dynamics.
Procurement Resource provides latest prices of Tallow. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Tallow is the procured form of beef or mutton fat. It is made up of triglycerides. Tallow can be stored for longer periods, without the need of a refrigerator, keeping the fact in mind that it is stored in an airtight container so that its oxidation can be prevented. Tallow is characterised as tasteless and odourless.
Report Features | Details |
Product Name | Tallow |
Synonyms | 61789-97-7 |
Industrial Uses | Soap, Food and Beverages, Emollient in Cosmetics, Animal Feed, Biodiesel, Aviation Fuel, Printing, Lubrication, Medicine |
Supplier Database | Cargill Inc, Wilmar International Ltd, Bunge Limited |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In order to produce Tallow Fat, the process of rendering takes place. The tallow fat is rendered from mutton or beef. The mutton or beef are chopped into small pieces and the tallow fat is then rendered-off in a container at around 100°C temperature. It takes around hour and a half for the whole process to complete.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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