Price for Butter and Other Fats and Oils Derived from Milk in Bulgaria - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Bulgaria (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Bulgaria (FOB) - 2023
- Imports of Butter and Other Fats and Oils Derived from Milk in Bulgaria
- Exports of Butter and Other Fats and Oils Derived from Milk in Bulgaria
Price for Butter and Other Fats and Oils Derived from Milk in Bulgaria (CIF) - 2023
In November 2023, the average import price for butter and other fats and oils derived from milk amounted to $6,344 per ton, rising by 9.8% against the previous month. In general, the import price, however, continues to indicate a slight descent. Over the period under review, average import prices hit record highs at $7,405 per ton in November 2022; however, from December 2022 to November 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was Serbia ($8,146 per ton), while the price for Belarus stood at $7,983 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Poland (-0.3%), while the prices for the other major suppliers experienced a decline.
Price for Butter and Other Fats and Oils Derived from Milk in Bulgaria (FOB) - 2023
In November 2023, the average export price for butter and other fats and oils derived from milk amounted to $5,846 per ton, picking up by 10% against the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.8%. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 39% month-to-month. As a result, the export price attained the peak level of $6,550 per ton. From January 2023 to November 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was the UK ($15,283 per ton), while the average price for exports to Mali ($5,916 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Butter and Other Fats and Oils Derived from Milk in Bulgaria
In 2022, overseas purchases of butter and other fats and oils derived from milk decreased by -2.7% to 8.8K tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +1.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 6.6%. As a result, imports attained the peak of 9.1K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of butter and other fats and oils derived from milk skyrocketed to $57M in 2022. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +12.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Bulgaria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 24.0 | 23.6 | 27.6 | 31.4 | 9.4% |
| Netherlands | 6.4 | 4.5 | 7.1 | 9.6 | 14.5% |
| Italy | 1.6 | 1.7 | 3.4 | 2.9 | 21.9% |
| France | 1.6 | 1.3 | 2.0 | 2.8 | 20.5% |
| Greece | 1.6 | 0.7 | 0.6 | 2.4 | 14.5% |
| Poland | 2.9 | 2.2 | 1.7 | 2.1 | -10.2% |
| Lithuania | 0.7 | 2.3 | 2.0 | 1.5 | 28.9% |
| Others | 2.0 | 2.6 | 2.0 | 4.5 | 31.0% |
| Total | 40.8 | 38.7 | 46.5 | 57.2 | 11.9% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Bulgaria in 2022:
- Germany (4.4K tons)
- Netherlands (1.3K tons)
- Greece (0.9K tons)
- Italy (0.5K tons)
- France (0.4K tons)
- Poland (0.3K tons)
- Lithuania (0.3K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Bulgaria
In 2022, exports of butter and other fats and oils derived from milk from Bulgaria soared to 995 tons, jumping by 64% against the previous year's figure. Overall, exports showed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of butter and other fats and oils derived from milk soared to $5.6M in 2022. In general, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | 2,063 | 1,667 | 2,229 | 3,483 | 19.1% |
| Greece | 341 | 59.2 | 154 | 1,416 | 60.7% |
| Netherlands | 6.8 | 7.4 | 20.0 | 158 | 185.4% |
| Iraq | 148 | N/A | N/A | 147 | -0.2% |
| United Kingdom | 115 | 15.6 | 90.4 | 145 | 8.0% |
| France | N/A | 6.1 | 63.7 | 58.4 | 209.4% |
| Germany | 7.4 | 17.0 | 54.1 | 53.5 | 93.4% |
| Italy | 130 | 47.3 | 2.3 | 0.8 | -81.7% |
| Others | 57.2 | 113 | 141 | 141 | 35.1% |
| Total | 2,869 | 1,933 | 2,755 | 5,603 | 25.0% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Bulgaria in 2022:
- Romania (661.4 tons)
- Greece (208.4 tons)
- Netherlands (26.9 tons)
- Iraq (20.2 tons)
- France (18.6 tons)
- Germany (18.4 tons)
- United Kingdom (18.0 tons)
- Italy (0.2 tons)
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This report provides an in-depth analysis of the global butter and ghee market.
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