Price for Butter and Other Fats and Oils Derived from Milk in New Zealand - 2024
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in New Zealand (FOB) - 2024
- Price for Butter and Other Fats and Oils Derived from Milk in New Zealand (CIF) - 2022
- Exports of Butter and Other Fats and Oils Derived from Milk in New Zealand
- Imports of Butter and Other Fats and Oils Derived from Milk in New Zealand
Price for Butter and Other Fats and Oils Derived from Milk in New Zealand (FOB) - 2024
The average export price for butter and other fats and oils derived from milk stood at $5,399 per ton in December 2023, approximately reflecting the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2023 an increase of 4.5% against the previous month. The export price peaked at $5,900 per ton in January 2023; however, from February 2023 to December 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In December 2023, the countries with the highest prices were China ($6,023 per ton) and the United States ($5,781 per ton), while the average price for exports to the Philippines ($4,957 per ton) and Canada ($4,985 per ton) were amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.0%), while the prices for the other major destinations experienced a decline.
Price for Butter and Other Fats and Oils Derived from Milk in New Zealand (CIF) - 2022
In 2022, the average import price for butter and other fats and oils derived from milk amounted to $7,474 per ton, picking up by 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2017 an increase of 24% against the previous year. As a result, import price reached the peak level of $7,740 per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($10,351 per ton), while the price for India ($6,273 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+24.0%), 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 New Zealand
In 2022, shipments abroad of butter and other fats and oils derived from milk was finally on the rise to reach 451K tons after two years of decline. In general, exports, however, saw a relatively flat trend pattern.
In value terms, exports of butter and other fats and oils derived from milk skyrocketed to $2.8B in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +6.9% 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 +50.1% 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 New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 415 | 386 | 528 | 762 | 22.5% |
| Australia | 165 | 150 | 144 | 208 | 8.0% |
| Saudi Arabia | 99.6 | 109 | 110 | 143 | 12.8% |
| Indonesia | 74.7 | 59.0 | 71.6 | 143 | 24.2% |
| Philippines | 162 | 123 | 129 | 142 | -4.3% |
| Mexico | 115 | 80.9 | 77.1 | 140 | 6.8% |
| United States | 139 | 97.2 | 48.9 | 110 | -7.5% |
| Egypt | 80.0 | 74.1 | 102 | 102 | 8.4% |
| Malaysia | 79.4 | 67.4 | 87.5 | 101 | 8.4% |
| Taiwan (Chinese) | 68.9 | 56.0 | 70.1 | 90.0 | 9.3% |
| South Korea | 33.7 | 26.3 | 44.4 | 70.9 | 28.1% |
| Netherlands | 3.9 | 1.0 | 2.8 | 65.9 | 156.6% |
| Thailand | 41.0 | 39.4 | 51.0 | 58.0 | 12.3% |
| Others | 827 | 605 | 578 | 678 | -6.4% |
| Total | 2,304 | 1,874 | 2,045 | 2,813 | 6.9% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from New Zealand in 2022:
- China (121.5K tons)
- Australia (35.1K tons)
- Saudi Arabia (23.2K tons)
- Philippines (22.2K tons)
- Mexico (22.1K tons)
- Indonesia (21.4K tons)
- United States (17.9K tons)
- Egypt (16.4K tons)
- Malaysia (16.0K tons)
- Taiwan (Chinese) (14.4K tons)
- South Korea (11.9K tons)
- Netherlands (11.1K tons)
- Thailand (9.1K tons)
Imports of Butter and Other Fats and Oils Derived from Milk in New Zealand
In 2022, imports of butter and other fats and oils derived from milk into New Zealand soared to 724 tons, picking up by 18% against the previous year's figure. The total import volume increased at an average annual rate of +13.3% 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 2020 with an increase of 44%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of butter and other fats and oils derived from milk surged to $5.4M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +18.0% 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 +64.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Butter and Other Fats and Oils Derived from Milk in New Zealand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1,283 | 1,646 | 1,342 | 2,746 | 28.9% |
| Ireland | 361 | 244 | N/A | 1,285 | 52.7% |
| Denmark | 486 | 656 | 719 | 694 | 12.6% |
| Australia | 584 | 683 | 1,425 | 559 | -1.4% |
| Fiji | 158 | 163 | 115 | 106 | -12.5% |
| France | 355 | 361 | 263 | 0.3 | -90.5% |
| Others | 66.8 | 817 | 71.8 | 21.4 | -31.6% |
| Total | 3,294 | 4,570 | 3,936 | 5,411 | 18.0% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to New Zealand in 2022:
- India (437.7 tons)
- Ireland (124.1 tons)
- Denmark (90.8 tons)
- Australia (55.0 tons)
- Fiji (12.0 tons)
- France (0.1 tons)
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This report provides an in-depth analysis of the global butter and ghee market.
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This report provides an in-depth analysis of the global ghee market.
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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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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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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.
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The global trade in butter amounted to X million USD in 2015, fluctuating wildly over the period under review. A significant drop in 2009 was followed by a recovery over the next two years, until exports decreased again
