Butter Market - New Zealand’s Butter Exports Increased by 18% in 2014

Vegetable And Animal Oils And Fats October 18, 2015
Author: Svetlana Sitkova
Head of Industrial Research Department

butter market

New Zealand continued its dominance in the global butter trade. In 2014, New Zealand exported 307 thousand tonnes of butter totaling 1,181 million USD, 18% over the previous year. Its primary trading partner on the global butter market was China, where it supplied 15% of its total butter exports in value terms, accounting for 76% of China's total imports.

From 2007 to 2014, New Zealand was a net exporter of butter. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, the difference was more pronounced.

The Netherlands and Ireland were among the other main global suppliers of butter in 2014. However, the fastest growing exporters from 2007 to 2014 were the U.S. (+13% per year) and Belarus (+13% per year). New Zealand significantly strengthened its position in the global export structure.

In 2014, New Zealand's top 5 trading partners were China, Iran, Egypt, Azerbaijan and Australia, with a combined 44% share of New Zealand's butter exports. The share of China increased significantly (+11 percentage points), while the share of Iran illustrated negative dynamics (-1 percentage points).

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Source: World: Butter - Market Report. Analysis And Forecast To 2020