Price for Butter and Other Fats and Oils Derived from Milk in Denmark - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Denmark (FOB) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Denmark (CIF) - 2022
- Exports of Butter and Other Fats and Oils Derived from Milk in Denmark
- Imports of Butter and Other Fats and Oils Derived from Milk in Denmark
Price for Butter and Other Fats and Oils Derived from Milk in Denmark (FOB) - 2023
In November 2023, the average export price for butter and other fats and oils derived from milk amounted to $6,355 per ton, flattening at the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 10% against the previous month. Over the period under review, the average export prices hit record highs at $7,173 per ton in December 2022; however, from January 2023 to November 2023, the 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 Iraq ($9,962 per ton), while the average price for exports to the Philippines ($5,764 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 Mexico (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in Denmark (CIF) - 2022
The average import price for butter and other fats and oils derived from milk stood at $6,506 per ton in 2022, growing by 36% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for butter and other fats and oils derived from milk increased by +61.7% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 67%. The import price peaked in 2022 and is likely to continue growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($6,808 per ton), while the price for the UK ($3,432 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Butter and Other Fats and Oils Derived from Milk in Denmark
Exports of butter and other fats and oils derived from milk from Denmark skyrocketed to 63K tons in 2022, picking up by 18% against the year before. The total export volume increased at an average annual rate of +5.7% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained 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 $427M in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +12.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.9% against 2020 indices. 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 Denmark (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 36.3 | 19.4 | 37.4 | 61.7 | 19.3% |
| Belgium | 3.7 | 4.7 | 2.8 | 39.8 | 120.7% |
| United Kingdom | 33.1 | 28.5 | 32.0 | 35.8 | 2.6% |
| Germany | 28.3 | 29.0 | 30.1 | 33.4 | 5.7% |
| Saudi Arabia | 32.5 | 30.3 | 21.1 | 27.4 | -5.5% |
| United Arab Emirates | 17.1 | 17.3 | 17.2 | 24.1 | 12.1% |
| Italy | 7.7 | 6.5 | 6.2 | 22.0 | 41.9% |
| France | 6.3 | 1.9 | 1.2 | 21.7 | 51.0% |
| Sweden | 15.5 | 16.4 | 19.6 | 18.7 | 6.5% |
| Malaysia | 5.0 | 8.6 | 12.4 | 11.0 | 30.1% |
| Qatar | 8.1 | 7.6 | 7.5 | 9.2 | 4.3% |
| Greece | 6.8 | 8.2 | 9.1 | 8.6 | 8.1% |
| Poland | 5.8 | 5.4 | 8.2 | 6.8 | 5.4% |
| Others | 90.4 | 88.1 | 95.7 | 107 | 5.8% |
| Total | 296 | 272 | 301 | 427 | 13.0% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Denmark in 2022:
- Netherlands (9.0K tons)
- United Kingdom (6.3K tons)
- Belgium (5.4K tons)
- Germany (5.3K tons)
- Saudi Arabia (3.7K tons)
- United Arab Emirates (3.3K tons)
- Sweden (3.3K tons)
- Italy (3.0K tons)
- France (3.0K tons)
- Malaysia (1.6K tons)
- Greece (1.5K tons)
- Poland (1.3K tons)
- Qatar (1.3K tons)
Imports of Butter and Other Fats and Oils Derived from Milk in Denmark
For the fourth year in a row, Denmark recorded growth in supplies from abroad of butter and other fats and oils derived from milk, which increased by 63% to 28K tons in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +19.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of butter and other fats and oils derived from milk soared to $184M in 2022. In general, imports posted significant growth. 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 Denmark (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 15.0 | 10.5 | 14.0 | 65.9 | 63.8% |
| New Zealand | 12.7 | 7.3 | 16.6 | 62.4 | 70.0% |
| Germany | 18.9 | 10.4 | 17.2 | 22.0 | 5.2% |
| Belgium | 11.8 | 21.4 | 11.2 | 17.6 | 14.3% |
| Sweden | 7.9 | 7.4 | 9.5 | 3.6 | -23.0% |
| Turkey | N/A | N/A | N/A | 2.8 | 0% |
| Others | 9.6 | 11.1 | 14.5 | 9.7 | 0.3% |
| Total | 75.9 | 68.2 | 83.0 | 184 | 34.3% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Denmark in 2022:
- Netherlands (10.2K tons)
- New Zealand (9.2K tons)
- Germany (3.3K tons)
- Belgium (2.9K tons)
- Turkey (0.5K tons)
- Sweden (0.5K tons)
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This report provides an in-depth analysis of the butter and ghee market in Denmark.
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This report provides an in-depth analysis of the ghee market in Denmark.
901
This report provides an in-depth analysis of the butter market in Denmark.
548
This report provides an in-depth analysis of the dairy produce market in Denmark.
388
This report provides an in-depth analysis of the market for butter and dairy spreads in Denmark.
489
This report provides an in-depth analysis of the dairy spread market in Denmark.
2171
This report provides an in-depth analysis of the global butter and ghee market.
2927
This report provides an in-depth analysis of the global ghee market.
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This report provides an in-depth analysis of the global butter market.
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This report provides an in-depth analysis of the global dairy produce market.
7991
Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
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Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
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Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
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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.
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The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
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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.
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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
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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
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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.
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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.
