For the Quarter Ending December 2025
APAC
• In India, the Tallow Oil Price Index fell by 8.0% quarter-over-quarter, driven by excess inventories.
• The average Tallow Oil price for the quarter was approximately USD 981.84/MT, based on volumes.
• Tallow Oil Spot Price eased as Price Index readings showed oversupply from imports during December.
• Tallow Oil Demand Outlook weakened as soap manufacturers shifted to palm stearin, causing lower offtake.
• Tallow Oil Production Cost Trend remained subdued as rendering throughput and logistics costs remained stable.
• Tallow Oil Price Forecast indicates mild near-term declines as Price Index momentum faces inventory headwinds.
• Tallow Oil Price Index pressure intensified from increased Oceania exports and eased freight, compressing offers.
• Sellers offered discounts to clear elevated inventories, maintaining pressure on Tallow Oil Spot Price levels.
Why did the price of Tallow Oil change in December 2025 in APAC?
• Import surge from Oceania increased availability, raising inventories and significantly reducing near-term domestic price support.
• Downstream substitution to cheaper palm stearin weakened demand, prompting buyers to defer fresh procurement activity.
• Stable rendering and fluid ports kept logistics costs low, removing cost-driven upward pressure on prices.
Europe
• In Germany, the Tallow Oil Price Index rose by 2.4% quarter-over-quarter, amid tighter feedstock and biodiesel demand.
• The average Tallow Oil price for the quarter was approximately USD 1132.67/MT, reflecting FOB Hamburg trade.
• Tallow Oil Spot Price tightened in December as biodiesel offtake absorbed available FOB volumes, pressuring prompt offers.
• Tallow Oil Price Forecast indicates modest early-year gains as restocking follows year-end compliance-driven purchases by European markets.
• Tallow Oil Production Cost Trend remained elevated due to high electricity and rendering expenses, limiting producers' expansion.
• Tallow Oil Demand Outlook shows firm near-term biodiesel demand counterbalanced by subdued oleochemical and food-grade purchasing activity.
• Tallow Oil Price Index movements were influenced by lower Hamburg tank inventories and robust export inquiries from neighboring countries.
• Producers maintained disciplined offers while resellers discounted selectively to clear accumulated volumes ahead of year-end audits.
Why did the price of Tallow Oil change in December 2025 in Europe?
• Reduced livestock slaughter volumes tightened feedstock availability, constraining prompt supply and supporting higher FOB offers in December.
• Year-end biodiesel blending compliance elevated buying urgency, outbidding oleochemical users for limited prompt tonnage and tightening availability.
• Sustained energy and rendering costs increased production margins, limiting discretionary output despite smoother port logistics in December.
MEA
• In the United Arab Emirates, the Tallow Oil Price Index fell by 7.84% quarter-over-quarter, reflecting softness.
• The average Tallow Oil price for the quarter was approximately USD 1007.00/MT delivered into Jebel Ali.
• Tallow Oil Spot Price softened as Oceania and Indian cargo inflows increased availability, pressuring CFR offers.
• Tallow Oil Price Forecast points to mild declines into early Q1, with gradual recovery through restocking.
• Tallow Oil Production Cost Trend remained stable as energy subsidies and steady utilities limited cost pressures.
• Tallow Oil Demand Outlook shows cautious procurement from soap, oleochemical, and biodiesel sectors given comfortable inventories.
• Tallow Oil Price Index movements were influenced by normalized logistics, port throughput, and limited domestic rendering.
• Export re-sales and inventory management prompted selective discounts, capping upside and maintaining subdued spot market liquidity.
Why did the price of Tallow Oil change in December 2025 in MEA?
• Abundant Oceania and Indian arrivals increased supply, pressuring landed CFR offers and reducing sellers' leverage.
• Downstream users maintained inventories and delayed restocking, dampening spot buying despite the holiday season demand uptick.
• Stable currency peg and energy subsidies contained production cost increases, while freight stayed high but non-disruptive.
North America
• In North America, the Tallow Oil Price Index rose quarter-over-quarter, reflecting tighter import availability and sustained biofuel-driven demand.
• Tallow Oil market conditions remained import-led, with European and regional supplies supplementing domestic production to meet biodiesel requirements.
• Tallow Oil Spot Price firmed in December as biofuel offtake absorbed prompt cargoes, limiting spot flexibility for oleochemical buyers.
• Tallow Oil Price Forecast points to modest near-term firmness, supported by restocking following year-end renewable fuel compliance activity.
• Tallow Oil Production Cost Trend for importers remained elevated, reflecting higher rendering, energy, and logistics costs embedded in export offers.
• Tallow Oil Demand Outlook remained firm, driven by renewable diesel and biodiesel demand, while oleochemical and food-grade usage stayed selective.
• Tallow Oil Price Index movement reflected tighter distributor inventories and steady import enquiries, limiting price softness.
• Importers and resellers maintained disciplined offers, while selective discounting occurred to align inventories ahead of year-end audits.
Why did the price of Tallow Oil change in December 2025 in North America?
• Limited prompt import availability tightened supply, supporting firmer spot pricing.
• Year-end renewable fuel compliance increased buying urgency from biodiesel producers.
• Elevated rendering and energy costs constrained discretionary output, sustaining price support.
For the Quarter Ending September 2025
APAC
• In India, the Tallow Oil Price Index rose by 4.0% quarter-over-quarter, driven by export demand.
• The average Tallow Oil price for the quarter was approximately USD 943.21/MT among domestic participants.
• Tallow Oil Spot Price firmed as exporters drew inventories and monsoon delays constrained domestic deliveries.
• Tallow Oil Price Forecast suggests modest corrections ahead as restocking slows and export momentum moderates.
• Tallow Oil Production Cost Trend remained muted because feedstock prices stayed stable and efficiencies improved.
• Tallow Oil Demand Outlook stays supportive driven by soap, oleochemical and biodiesel sectors maintaining purchases.
• Tallow Oil Price Index gains were balanced by softer FOB cues and elevated freight charges.
• Producers increased runs to fulfill export contracts while distributors cautiously rebuilt stocks, supporting market stability.
Why did the price of Tallow Oil change in September 2025 in APAC?
• Export-driven inventory drawdowns tightened domestic availability, elevating prices despite steady production and regional shipping constraints.
• Monsoon-related logistics disruptions, higher freight elevated landed costs, prompting exporters and sellers to lift quotations.
• Robust downstream procurement and proactive restocking ahead of production cycles supported firmer domestic pricing momentum.
Europe
• In Germany, the Tallow Oil Price Index rose by 1.84% quarter-over-quarter, driven by logistics constraints.
• The average Tallow Oil price for the quarter was approximately USD 1106.00/MT according to survey data.
• Persistent port congestion kept the Tallow Oil Spot Price firm despite steady output and reduced flows recently.
• The Tallow Oil Price Forecast anticipates modest upside in near term as logistics gradually normalize over summer.
• Rising freight surcharges increased the Tallow Oil Production Cost Trend, squeezing margins for exporters and traders materially.
• Downstream restocking supported the Tallow Oil Demand Outlook, particularly from oleochemical and personal care manufacturers regionally.
• Inventory declines at exporters tightened immediate availability, reinforcing a firmer Tallow Oil Price Index in spot trades internationally.
• Major exporters maintained stable runs, limiting supply flexibility and keeping export pricing momentum relatively supported by distributors.
Why did the price of Tallow Oil change in September 2025 in Europe?
• Rhine low water levels and port congestion reduced barge capacity, constraining export volumes and availability.
• Buyers accelerated restocking amid shipping uncertainty, increasing short-term demand despite unchanged domestic manufacturing output levels.
• Freight surcharges and higher logistic costs raised landed costs, translating into firmer export offers and pricing.
North America
• In the USA, the Tallow Oil Price Index declined quarter-over-quarter, reflecting ample import availability and moderate downstream consumption.
• Tallow Oil Spot Price softened through the quarter as strong South American and Australian shipments increased supply to Gulf Coast terminals.
• Tallow Oil Price Forecast indicates limited near-term upside, with moderate restocking and steady biofuel blending demand expected to balance the market.
• Tallow Oil Production Cost Trend remained largely stable as lower global freight rates and consistent currency conditions offset minor energy cost fluctuations.
• Tallow Oil Demand Outlook stayed modest, supported by consistent usage in biodiesel and oleochemical sectors but restrained by accumulated inventories.
• Tallow Oil Price Index mirrored steady import arrivals and cautious procurement behavior among refiners and traders.
• Major U.S. buyers maintained adequate stock levels, while improved logistics and timely deliveries helped keep supply chains balanced.
• Competitive offers from overseas suppliers and subdued export opportunities limited any significant price rebound throughout the quarter.
Why did the price of Tallow Oil change in September 2025 in North America?
• Strong import flows from South America and Oceania increased local availability, reducing upward price pressure across U.S. terminals.
• Softer procurement activity in the biodiesel and oleochemical industries limited restocking urgency, leading to a mild price decline.
• Stable currency conditions and reduced freight rates contained landed costs, keeping the overall market under moderate downward pressure.
MEA
• In the United Arab Emirates, the Tallow Oil Price Index fell 2.701% quarter-over-quarter due to imports.
• The average Tallow Oil price for the quarter was approximately USD 1092.67/MT, reflecting port arrivals.
• Tallow Oil Spot Price weakened as ample imports and competitive offers pressured Jebel Ali levels.
• Tallow Oil Price Forecast indicates modest recovery if downstream restocking tightens supply relative to imports.
• Tallow Oil Production Cost Trend remained stable due to steady USD-Dirham parity and contained inflation.
• Tallow Oil Demand Outlook is subdued as soaps, oleochemicals and feed sectors maintain replenishment strategies.
• Tallow Oil Price Index movements mirrored comfortable inventories, smooth logistics and restrained buying across traders.
• Major operators reported normal operations, limiting disruptions and enabling suppliers to clear accumulated port stocks.
Why did the price of Tallow Oil change in September 2025 in MEA?
• Improved Indian imports increased port stocks, reducing upward pressure on local spot and contract pricing.
• Subdued downstream procurement from soaps and oleochemicals lowered buying urgency, depressing spot demand and prices.
• Stable USD-Dirham parity and smooth logistics contained landed costs, reinforcing local price softness during September.
For the Quarter Ending June 2025
North America
• In April 2025, the Tallow Oil Price Index in the USA registered a notable rise, supported by strong domestic demand from soap, oleochemical, and lubricant manufacturers, alongside tightening global supply conditions.
• Warmer temperatures led to concerns over product degradation during transport, prompting importers and distributors to advance procurement cycles, pushing spot prices upward as inventory coverage was reinforced.
• Limited vessel availability, elevated container rates, and longer transit times contributed to a higher product production cost trend, as suppliers passed on logistics-related increases to downstream buyers.
• In May 2025, the Price Index showed a steady uptrend as industrial activity remained robust across key manufacturing hubs, sustaining offtake from sectors such as biodiesel blending, candles, and personal care products.
• U.S. importers responded to persistent global tightness by securing forward contracts at higher premiums, further elevating spot prices and reflecting confidence in a firm product demand outlook.
• By June 2025, the Tallow Oil Price Index saw its sharpest quarterly gain, driven by robust industrial offtake and intensified restocking efforts in anticipation of continued tightness in global supply pipelines.
• Downstream sectors maintained healthy consumption, and improved macroeconomic indicators encouraged processors to secure material in advance, aligning with an optimistic product price forecast for early Q3.
• Strategic inventory drawdowns and higher warehouse turnover rates were observed in key U.S. coastal regions, with distributors operating under leaner stock positions by the end of June.
• In July 2025, the Tallow Oil Price Index is likely to increase, as ongoing strength in personal care and oleochemical sectors, coupled with reduced inventory carryovers and import-side delays, supports a bullish short-term product price forecast.
APAC
• In April 2025, the Tallow Oil Price Index in India rose by 4.17%, with the spot price increasing from USD 867/MT to USD 890/MT, fueled by robust domestic demand and seasonal supply tightness.
• Price increases in April were supported by India's fastest industrial growth since mid-2024, driving higher consumption in soaps, oleochemicals, and lubricants, as buyers stockpiled ahead of summer-induced stability risks.
• Concerns around heat-related degradation during storage and transit led to faster turnover rates and contributed to a tighter market—impacting both product demand outlook and product production cost trend.
• In May 2025, the Price Index climbed another 2.67% to INR 79,000/MT, driven by rising input and energy costs, which increased tallow oil production cost trends, forcing manufacturers to revise pricing structures.
• Manufacturing remained stable in May, but elevated feedstock costs (animal fats) constrained margin flexibility, discouraging price discounting and keeping spot prices on an upward trajectory.
• Downstream sectors like biodiesel, soaps, and animal feed continued to demonstrate strong demand in May, with buyers replenishing inventories to hedge against expected cost escalation—reinforcing a positive product demand outlook.
• In June 2025, the Price Index surged 3.90%, pushing the spot price to INR 80,000/MT, as industrial production hit a 14-month high, leading to aggressive inventory drawdowns and supply-side tightness.
• Declining CPI (to 2.10%) improved purchasing power in June, sustaining demand from personal care, oleochemical, and export-linked sectors—further tightening availability and reinforcing bullish pricing conditions.
• Export growth in June diverted supply toward Southeast Asia and the Middle East, intensifying competition for limited domestic stocks and lending support to a stronger tallow oil price forecast for early Q3.
• In July 2025, the tallow oil Price Index is likely to rise further due to continued strong offtake from personal care, soap, and oleochemical sectors, coupled with inventory depletion in June, which left thinner stocks across distribution networks.
Europe
• In April 2025, the Tallow Oil Price Index in Germany rose by +0.90% to USD 1120/MT FOB Hamburg, supported by strong US demand driven by a temporary suspension of import tariffs.
• The tallow oil spot price surge was amplified by limited outbound logistics due to holiday-related slowdowns and congestion at ports like Hamburg and Antwerp, tightening regional supply.
• The tallow oil demand outlook strengthened in April as personal care and oleochemical sectors in the US rushed to procure before tariffs potentially resumed.
• In May 2025, the Price Index dropped by -5.71% to USD 1056/MT, reflecting weaker fresh orders and saturated inventories after April’s frontloaded buying spree.
• Despite stable output, oversupply emerged in May as tallow oil production cost trend remained unchanged, but storage built up due to logistical delays and cautious procurement behavior.
• In June 2025, the Price Index rebounded by +2.46% to USD 1082/MT as continued port congestion and low Rhine water levels delayed exports, tightening short-term supply.
• Industrial buyers in June advanced purchases amid rising uncertainty, sustaining demand from sectors like lubricants and specialty oleochemicals without large-volume orders.
• The tallow oil price forecast for July 2025 points to a likely price increase due to robust seasonal demand in food preservation, pulp & paper, and water treatment segments.
• Although German production remains steady, supply chain constraints—especially inland transport bottlenecks—are expected to limit immediate product availability.
• Moderate restocking patterns driven by risk mitigation amid delayed freight will continue to support tallow oil spot price stability heading into July.
MEA
• The Tallow Oil Price Index in the UAE rose by +0.98% in May, after a sharper +5.05% increase in April, before declining -2.20% in June, indicating a Q2 price correction after initial inflationary pressures.
• The tallow oil spot price averaged USD 1135/MT in May, supported by high import costs from India and persistent summer-related storage and transit precautions.
• In April, price escalation was driven by elevated import costs, forward procurement, and rising handling expenses linked to refrigerated shipping methods, directly influencing the UAE’s production cost trend.
• Demand outlook remained robust in April and May from personal care, industrial lubricants, and cleaning sectors amid heatwave-related demand for cooling and hygiene products.
• June witnessed improved import availability and normalized inventory levels, reducing urgency among buyers and triggering price moderation in the local spot market.
• A stable USD-Dirham exchange rate in June cushioned importers from escalating feedstock prices in India, softening UAE landed costs.
• Downstream industries followed cautious restocking strategies in May and routine purchases in June, reflecting evolving tallow oil demand outlook.
• Rising inflation to 2.37% in May added marginal warehousing and distribution costs, shaping the overall price forecast sentiment cautiously.
• While high temperatures encouraged additional logistics precautions in Q2, adequate port operations enabled consistent inbound flows from India.
• In July 2025, prices are likely to increase slightly, as strong seasonal demand from food preservation, pulp & paper, and water treatment sectors globally may elevate import pressure and tighten UAE availability.
For the Quarter Ending March 2025
North America
During Q1 2025, Tallow Oil prices in the U.S. experienced fluctuating trends influenced by supply chain dynamics, import costs, and changing demand. January saw a modest price increase as importers rushed to secure shipments amid anticipated challenges, such as rising energy costs and disruptions in transportation. Tight supply chains, compounded by weather-related delays and logistical constraints, put upward pressure on prices. Additionally, uncertainty in the global market contributed to heightened procurement activity.
In February, Tallow Oil prices declined due to more stable supply conditions. Reduced shipping rates and improved availability from major suppliers helped ease the pressure on prices. However, weak demand from downstream industries, coupled with ample inventories, suppressed any significant price recovery.
By March, prices showed signs of recovery, driven by renewed buying activity and expectations of tighter supply. The firming market sentiment was supported by geopolitical uncertainties and shifts in the oil market, which prompted cautious purchasing ahead of potential supply disruptions. Overall, Q1 demonstrated a volatile but resilient pricing environment shaped by external factors impacting both supply and demand dynamics.
Asia Pacific
In Q1 2025, Tallow oil prices in India witnessed significant fluctuations, largely influenced by market conditions and external factors. January saw a sharp price increase, driven by strong demand from downstream industries like food processing, cosmetics, and bio-lubricants, along with a booming manufacturing sector. The depreciation of the Indian Rupee further boosted export demand, fueling price growth. However, February brought stability to the market, as concerns over a bird flu outbreak in Maharashtra led to more cautious buying. Despite this, demand from industries such as oleochemicals, biofuels, and animal feed remained solid, maintaining price stability. In March, Tallow oil prices rose again due to firm demand across sectors, a tightening domestic supply, and increasing exports, especially to the Middle East. India’s manufacturing activity continued to expand, contributing to higher demand. As exports grew, particularly to the UAE, domestic availability tightened, pushing prices upward. The overall Q1 trend showed a mix of strong industrial demand, export activity, and some external disruptions, leading to fluctuating yet generally upward-moving Tallow oil prices.
Europe
In the first quarter of 2025, Tallow oil prices in Germany displayed a fluctuating trend. January saw a moderate price increase, fueled by improved business morale and heightened demand from the food processing, biofuel, and oleochemical sectors. Inflationary pressures, largely due to rising energy costs, also played a role in this price hike. February experienced price stability, driven by balanced supply and demand, despite a stronger Euro impacting exports. The political uncertainty surrounding February's elections led to a cautious market stance, but steady demand from key industries supported stability. March, however, saw a significant drop in Tallow oil prices. Weak demand, coupled with oversupply across Europe, caused the downward trend. Additionally, global trade uncertainties, particularly new U.S. tariffs on beef tallow, disrupted trade flows, amplifying pressure on German exporters. A stronger Euro further dampened foreign demand, leading to price reductions as suppliers sought to offload inventories. This shift reflected a challenging end to the quarter for the German Tallow oil market.
MEA
In Q1 2025, Tallow Oil prices in the UAE followed a downward trend in January and February, with a notable rebound in March. January saw a modest decline driven by weak global demand from sectors like biofuels, food, cosmetics, and pharmaceuticals. Sluggish downstream activity and easing inflationary pressures led to cautious purchasing, with buyers reducing volumes and deferring procurement in anticipation of further price drops. Ample inventories carried over from December further minimized the need for immediate orders. The stability of the UAE Dirham against the US dollar also helped maintain import costs, contributing to the downward trend.
February continued the decline, supported by the Dirham’s appreciation against the US dollar, which made imports more affordable. Stable prices in India, a key supplier, and weak demand from downstream sectors further pressured prices. Geopolitical uncertainties and oil sector dynamics also dampened market sentiment. However, in March, Tallow Oil prices rebounded with a notable increase. The market shift may reflect changes in sentiment or external factors, suggesting the possibility of price recovery in the near term.
