Price for Butter and Other Fats and Oils Derived from Milk in Canada - 2024
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Canada (CIF) - 2022
- Price for Butter and Other Fats and Oils Derived from Milk in Canada (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Canada
- Exports of Butter and Other Fats and Oils Derived from Milk in Canada
Price for Butter and Other Fats and Oils Derived from Milk in Canada (CIF) - 2022
In 2022, the average import price for butter and other fats and oils derived from milk amounted to $6,147 per ton, increasing by 40% against the previous year. Over the period under review, the import price recorded strong growth. The pace of growth appeared the most rapid in 2017 when the average import price increased by 62%. As a result, import price reached the peak level of $9,397 per ton. From 2018 to 2022, the average import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($6,514 per ton), while the price for the United States stood at $5,935 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in Canada (FOB) - 2022
The average export price for butter and other fats and oils derived from milk stood at $3,757 per ton in 2022, with a decrease of -5.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 33%. As a result, the export price attained the peak level of $5,597 per ton. From 2020 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($4,375 per ton), while the average price for exports to Australia amounted to $2,336 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tunisia (+18.6%), while the prices for the other major destinations experienced a decline.
Imports of Butter and Other Fats and Oils Derived from Milk in Canada
Imports of butter and other fats and oils derived from milk into Canada rose significantly to 32K tons in 2022, surging by 12% compared with the year before. The total import volume increased at an average annual rate of +9.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
In value terms, imports of butter and other fats and oils derived from milk soared to $194M in 2022. In general, imports saw buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 46.1 | 39.0 | 68.7 | 119 | 37.2% |
| New Zealand | 68.0 | 55.9 | 47.7 | 71.8 | 1.8% |
| Ireland | 4.3 | 4.5 | N/A | N/A | 4.7% |
| Others | 2.9 | 4.6 | 7.2 | 2.9 | 0.0% |
| Total | 121 | 104 | 124 | 194 | 17.0% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Canada in 2022:
- United States (20.0K tons)
- New Zealand (11.0K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Canada
In 2022, overseas shipments of butter and other fats and oils derived from milk decreased by -5.9% to 1K tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 156% against the previous year. As a result, the exports attained the peak of 4.1K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of butter and other fats and oils derived from milk fell to $3.8M in 2022. Overall, exports faced a precipitous decline. The pace of growth was the most pronounced in 2020 when exports increased by 67%. As a result, the exports reached the peak of $15M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Butter and Other Fats and Oils Derived from Milk in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 7.6 | 12.9 | 3.4 | 3.1 | -25.8% |
| Australia | 1.3 | 1.7 | 0.4 | 0.6 | -22.7% |
| China | N/A | 0.2 | 0.2 | N/A | 0.0% |
| Others | 0.1 | 0.3 | 0.2 | 0.1 | 0.0% |
| Total | 9.0 | 15.0 | 4.2 | 3.8 | -25.0% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Canada in 2022:
- United States (706.9 tons)
- Australia (257.6 tons)
- China (6.7 tons)
676
This report provides an in-depth analysis of the butter and ghee market in Canada.
1485
This report provides an in-depth analysis of the ghee market in Canada.
1233
This report provides an in-depth analysis of the butter market in Canada.
422
This report provides an in-depth analysis of the dairy produce market in Canada.
359
This report provides an in-depth analysis of the market for butter and dairy spreads in Canada.
369
This report provides an in-depth analysis of the dairy spread market in Canada.
2152
This report provides an in-depth analysis of the global butter and ghee market.
2882
This report provides an in-depth analysis of the global ghee market.
3296
This report provides an in-depth analysis of the global butter market.
964
This report provides an in-depth analysis of the global dairy produce market.
7946
Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
2901
Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
6376
Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
6811
In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
1054
The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
2812
The market of butter and ghee fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015. Over the last year, the market dropped by X% in value terms.
1780
New Zealand seized control of the butter and ghee market. In 2014, New Zealand exported X thousand tons of butter and ghee totaling X USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total but
1601
New Zealand continued its dominance in the global ghee trade. In 2014, New Zealand exported X thousand tons of ghee totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total ghee
142
The butter market is projected to experience steady growth over the next seven years, driven by increasing demand worldwide. Market performance is expected to see a CAGR of +1.8% in volume and +3.5% in value from 2023 to 2030.
951
This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
